By John Smith • 29 May 2020 • 13:06
THE European Union has reportedly confirmed that it has approved the volume of subsidies granted by Spain to electricity suppliers who operate in the Balearics, the Canary Islands, Ceuta and Melilla.
This financial support falls under the terms of the EU Service of General Economic Interest (SGEI) and is granted in order to keep the electricity prices in these areas similar to those charged in mainland Spain.
These subsidies may continue until 2029 except for the Balearics as a new underwater connection with the mainland is due to go into service in 2025.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
Currently he is acting as Editorial Consultant for the paper helping to shape its future development.
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