The idea of ​​a rescue from Spain distresses the intervened Portugal

The idea of ​​a rescue from Spain distresses the intervened Portugal

The worsening of the Spanish recession worries the Portuguese more than Greece

Sandwiched between the crises of Spain and Greece, the geographical neighbor and the partner in the euro’s caboose, Portugal exhibits the scars of more than a year under the mandate of the troika, the IMF, the EU and the European Central Bank. In this period, which coincided with the first twelve months in the power of the conservative Passos Coelho, unemployment skyrocketed, poverty re-emerged, the middle class declined and emigration was once again a solution.

So much suffering to fulfill the commitments does not even allow to see light at the end of the tunnel. And now the possible rescue of Spain anguishes the Portuguese, because it reminds them of their immediate past, while they feel that it would be a new complication.

“How will it not affect us that Spain falls, if there are even foreigners who think that Portugal is part of Spain?”, Said Bruno and Miguel, two young people of 24 years sitting at the door of the São Bento station of Oporto, whose lobby impresses with its tile frescos. One works in a warehouse and another in a store. They claim to have been lucky against the scourge of unemployment, which affects more than a third of young people entering the labor market.

Since the international intervention, unemployment has skyrocketed in a Portugal in which historically it never reached the double digits. From the unemployment rate of 12.4% in the first quarter of 2011 to 14.9% twelve months later. The April partial figure reached 15.2%, which has led the Government to revise its forecasts upwards. The troika itself has acknowledged its fear of escalation.

Another of the wonders of Oporto is the Lello bookshop, with its two wooden floors and its large spiral staircase. Its owner, Antero Braga, points out that Spain is the main trading partner, the destination of a quarter of exports, so that a worsening of the Spanish recession would be felt. “I hope Spain will hold on, because it’s big,” says the bookseller, who claims that Portugal returns to itself and reactivates its fisheries, its agriculture and its industry.

The Lello bookstore is next to the Clérigos tower, in a zone of traditional commerce that has been run down, overflowing with pessimism. After the counter of a jeweler Marlene and Marilia confess to having saudade (morriña) of the shield. “Salaries gave for much more,” they say. Manuel Rodrigues, owner of a bar, complains about the fall of the clientele and the rise in the VAT of the hotel trade, which this year stood at 23%, which paradoxically caused a sharp drop in revenue.

The global decadence of traditional commerce was worsened in Portugal at the end of the last century by the great proliferation of shopping centers, the exponent of the consumption on credit that contributed to indebt families. The symbol was the Colombo de Lisboa, a huge mass of more than 400 stores, located next to the Benfica stadium. In the temple of the Portuguese consumption some closed store is seen, but few. And there are announcements of some openings. The influx of people has been reduced and consumption has decreased. The Banco de Portugal has detected a historical contraction in domestic demand.

In the armchairs of one of the squares of Colombo, Silvia and Rui, two young nurses, relate the difficulties that many of their compatriots are going through. In any case, they argue that with or without intervention, Portugal needed to change, because it was living beyond the possibilities of its economy.

“The situation is terrible, but this has been going on for many years,” says Isabel, a housewife, who points out several shops closed.
“Especially suffer the stores that have a clientele of middle and low class, as unemployment and the reduction of wages are noticed. The upper class still has money and now has more business options, for example the price of housing has fallen, “explains César Marco who has a perfumery. Considers that a possible rescue of Spain would be even worse for Portugal, since it is the only country with which it has borders.

Economists say that the Portuguese business fabric itself, atomized into thousands of small companies, increases its exposure to the contagion of the Spanish recession, since these firms lack the size to export to other continents.

“Once we have fallen, it was good that at least the Spaniards endured and that the two countries were not in the hands of the troika,” says Maria da Luz, owner of a small jewelry store. Like many Portuguese, as these days continue the news about the Spanish debt has perceived many parallels with the process that Portugal lived a year ago. But in that vision lusa always incorporates a size allusion, because the Portuguese have a distorted perception of the real dimension of Spain.

On the streets of Portugal the role of the troika is omnipresent. On Saturday the newspaper Público joked that Paulo Bento, the football coach, can make substitutions without asking permission from the troika. “For me it is no longer a matter of sovereignty, but of dignity, of being able to decide what we do without being imposed,” says João Martins, a salesman who sees all of Europe in danger.

The troika is especially present these days, because a mission of the IMF, the EU and the ECB has moved to Lisbon to conduct the quarterly review of public accounts, which depends on the payment of a new loan term of 78,000 million euros . Everything indicates that Portugal will pass the test, despite its difficulties in reaching the deficit target, despite the efforts of the Government of Passos Coelho, a coalition of the conservative PSD and the right-wing CDS. On Tuesday marks one year of his victory. The polls indicate a deterioration of PSD of Passos and a recovery of the Socialists, although at the moment the current majority would not be in danger, although it faces a delicate scandal of espionage that can take its toll.

Although a Greek exit from the euro would put Portugal back on the spur, for the Portuguese the Greek crisis now seems very far away. Instead, they feel Spain closer than ever.

The Representation in Spain of the European Commission, concerned about unemployed youth

The Representation in Spain of the European Commission, concerned about unemployed youth

The Economic Counselor of the Representation in Spain of the European Commission, Paz Guzmán, on Wednesday expressed the “concern” of the EU institutions for the “almost lost generation” of young people in unemployment in the current context of crisis and for the almost 20 percent of workers who want to work and can not.

He has informed the Cortes de Aragón about the 2016 European Semester, the EU’s economic and budgetary policy coordination system.

In a joint session of the Commissions of Economy and Finance, Guzmán has exposed that the economic, financial and debt crisis “has been very strong, has left Europe marked,” especially to the countries of the Euro Zone, compared to what Member States have reacted by developing the banking union and reinforcing the European Semester.

He highlighted the “blow” suffered by the labor market and the fall in investment, although “we are growing again” and, in fact, the Spanish economy has done it almost twice as much as the other countries in the Euro Zone. , leaving behind the “critical situation” of 2012.

Guzmán has defended the social character of the EU, observing that “social Europe is one of the main projects and the raison d’être of the EU”, adding that “it is a dream that inspires us on a daily basis”.

In December 2016 and January 2017, the Commission, the Parliament and the European Council will agree on a medium-term strategy to “launch the policy umbrella” next year and in February the Country Report of each Member State will be presented, with an analysis in depth of economic imbalances.

The economic adviser has relied on Spain to take effective actions to reduce the deficit and not freeze the structural funds, highlighting the “common interest” to avoid it. The European Commission takes into account that the Government is in place and expects that the budget plan will be presented afterwards, updated according to “the objectives set”.

He commented that the regional funding has a “hot” interest that the European Commission follows closely and that it talks about it with the Ministry of Finance, AIREF and the Bank of Spain. He has called on all administrations to improve the quality of public spending and fight against corruption, which “has a cost for Spanish citizenship”.


The European Semester now covers more policies, specifically financial, fiscal and macroeconomic imbalances, always with the objective of Member States “working side by side” within the framework of a “vision of Europe as a whole”. Now, the supervision of the economy of each country has been improved, new measures of stability and “structural effort” have been implemented in the medium term, and specific recommendations have been articulated for each country, with mechanisms to correct the excessive deficit and excessive imbalances. .

“There is a virtuous triangle”, deepen fiscal responsibility and “structural reforms 2.0”, relaunch investment and improve labor markets, products and services, said Guzman, noting that it is not only to optimize competitiveness since wages, but also with training and technology.


The economic counselor has defended the Juncker Plan for the encouragement of private investment in the EU, prepared after verifying that it fell “brutally”, rising since 2014 always below historical levels.

He explained this drop in investment due to the crisis of investor confidence due to “bad expectations”, and also due to the high levels of indebtedness in both the public and private sectors, as well as the limitations of access to credit.

The Juncker Plan contemplates measures to make strategic investments, with a ‘window’ of 25 percent for SMEs, to which is added a portal of European investment projects, “something that many foreign investors asked us”, a European center for investment advice, which also informs about the instruments of the European Investment Bank.

This plan includes the improvement of the investment framework, so that the legislation is “predictable and makes sense” both in each country and in the EU, in order to deepen the single market by promoting a “true union” of the energy, digital, services and capital.

It also aims to “leverage the public funds that we have, which are few, to generate the maximum amount of private investment,” said Guzmán, who has relied on generating investments worth 127,000 million euros.

In Spain, more than 10 operations of a total of 115 have been signed throughout the EU and another 209 financing agreements for 290,000 SMEs and companies with fewer than 3,000 employees.

In terms of fiscal responsibility, the economic advisor continued, the Stability and Growth Pact continues to be applied, which allows implementing measures to reduce the excessive deficit and public debt.

Spain is among the countries with the highest public deficit, along with Croatia, France and Portugal. Thus, the European Commission opened the procedure for excessive deficit in 2009, making recommendations in 2012, 2013 and 2016. For this year the target set for Spain is 4.6 percent and in 2017 of 3.1 percent, down to 2.2 in 2018.


The deputy of the PP, Ricardo Oliván, recalled the contribution of the EU to the development of Spain and the improvement of the quality of life, emphasizing that “we forget that being part of a club entails rights and obligations”, criticizing who reject the Juncker Plan and then “dismiss investments” for cities such as Madrid, Barcelona and Zaragoza.

The socialist parliamentarian, Leticia Soria, has opined that “one of the main priorities must be to reduce economic, social and territorial inequalities”, hence the importance of cohesion policy. “We believe that a social Europe is possible,” he stressed.

The deputy of Podemos, Hector Vicente, has stated that “from the Europe of solidarity and rights has been passed to the austerity and cuts”, so that “today’s EU moves away from the European dream that in its day we build. ” Román Sierra also intervened on behalf of the purple formation, stating that “European policies have brought great suffering to the people we represent in this chamber”, alluding to the “scourge” of social inequality and the “loss of rights” .

From the PAR, Elena Allué has warned that the breaches of Spain on the recommendations of the EU “in the end will affect the autonomy” and has lamented the “lack of budgetary resources”, which has produced a deficit in the cost of the social services that were transferred.

On behalf of C’s, Javier Martínez has warned that “expansive policies, when they are not done well end up being explosive,” which is “what happened in Spain.” He has stated that “the duties that were not done when the situation was good now we have to make them worse off”.

Gregorio Briz has made clear that from CHA “we do not share from the first to the last page” of the stability policies, throwing in face to the European Commission that “they have deepened the crisis”. The fiscal consolidation is “impossible”, has considered.

The deputy of IU, Patricia Luquin has criticized the “publicity” of the Juncker Plan, lamenting that the EU “has only been concerned with rescuing companies or banks”, transferring private debt to the public sector, and that it has abandoned “its social character” .

The Bank of Spain confirms that the Euribor fell in May to -0.127%

Economy / Finance.- The Bank of Spain confirms that the Euribor fell in May to -0.127%ep como cambiarcondicionesuna hipoteca calculadoracasajuguete How to change the conditions of a mortgage. Calculator and toy house. PIXABAY


The Bank of Spain has confirmed that the Euribor, the index to which most of the Spanish mortgages are referenced, closed the month of May at historical lows in the monthly rate, standing at -0.127%, compared to -0.119% in April .

Thus, the Euribor experienced a decrease of 0.114 points in the last twelve months. With these values, the mortgages of 120,000 euros to 20 years with a differential of Euribor + 1% to those who review them will have a reduction of about 72.84 euros in their annual fee or, which is the same, 6.07 euros per month.

The data corresponding to the month of May also shows a decrease, to -0.127%, of the Mexican peso, the interbank rate at one year that served as an official reference for the mortgage market for transactions carried out prior to January 1, 2000.

The Euribor entered in February of last year in negative territory for the first time in history before the ultraexpansive policy of the European Central Bank (ECB) to prop up the recovery in the euro zone.

The index remains sunk below 0% – current level of interest rates in Europe – about to meet fifteen consecutive months, although it is true that the falls are slowing.

These reference indices for the mortgage market are valid as of their publication in the Official State Gazette (BOE), which normally occurs a few days after its dissemination by the supervisor.


In the opinion of XTB analyst Gustavo Martínez, this interest is “increasingly negative” and will remain so “as long as the monetary stimulus continues”.

“Let’s think that, if there is an excess of money supply in banks without there being a real demand for bank credit, it is normal that they are willing to charge an interest to demand money they do not need,” he told Europa Press.

According to the analyst, lending money and paying for it “will continue to be the general tone if the European Central Bank (ECB) does not put an end to these stimuli allowing demand for credit and money supply to adjust.”

“The reality is that, in the face of this imbalance of monetary equilibrium, inflation is a fact and, as a consequence, the ECB will not only have to withdraw stimuli, but it will have to cool the economy with interest rate increases making it more attractive and fluid supply of credit than in the current situation, “added the expert.

If this were to occur, the situation would normalize “with a consequent increase in the volume of interbank credit and an increase in the volume of credit in the real economy”, that is, consumer loans and mortgages and, therefore, a increase in the Euribor that will make the indebtedness, mainly variable rate mortgages and consumer loans, “become inexorably expensive”.

Álvaro Nadal says that “there was no money in the world to rescue Spain”at its most critical moment

Economy.- Álvaro Nadal says that “there was no money in the world to rescue Spain” at its most critical moment

The director of the Economic Office of the Presidency, Álvaro Nadal, has indicated that “there was no money in the world to rescue Spain” when in 2012 the country’s economy went through its most critical moment. “Not even taking away financial aid to developing countries would have been money to rescue Spain: we needed more than a trillion euros,” he said.

Nadal took part last night in the delivery of prizes to the 100 best financiers of the year that grant the magazine Actualidad Económica and KPMG. Along with the winners, the president of KPMG in Spain and the company’s global vice president, John Scott, and the director of Actualidad Económica, Miguel Ángel Belloso attended the event.

The head of Moncloa’s economic strategy drew a parallel between the work of the financial directors of private companies and the execution of an economic plan carried out by the Government, which, as he has argued, has made Spain, for the first time, been able to grow “for what we produce and export, but not for what we are indebted.”

In a speech marked by the proximity of the general elections – “there has never been so much divergence between the different economic proposals,” he said – Nadal said that if you continue on this path “we will be close to full employment and growing with balance.” But if we invest and do not give prominence to the economic team of the Government, we will have serious problems, “he warned.

He also recalled that “Spain has 22 months with inflation lower than Germany and generating employment on a continuous basis” and insisted that the Spanish economy is the one that has grown the most in exports with respect to its GDP. He has also made a defense of the restructuring and reorganization of the financial sector, which was supported by European funds: “Banks do not lend their money, but that of savers, it’s them we rescue,” he said.

However, he warned that there is a risk that unproductive decisions will be made as has happened in the last decade. As an example, he pointed out the construction of the Ciudad Real airport, which he recalled, “cost around 450 million euros and can now be sold for 10,000 euros, the business has been spectacular,” he said ironically.


During the event, Scott referred to the report of KPMG Global CEO Outlook, based on a survey of more than 1,200 top managers in the world, the position of CFO will be for most of the respondents (53%) the most relevant within a company for the next three years.

Scott noted that “financial managers now occupy one of the most important positions in a company and will be an important part of the transformation process in which they are immersed.” In his opinion, innovation will be the great axis on which this process of change revolves and, as Spanish executives have indicated, technology and, in particular, cybersecurity are two elements that generate great concern in the medium term.

Paypal launches a new free personal payment service to settle small debts in Spain and France

Paypal launches a new free personal payment service to settle small debts in Spain and France



Paypal has presented on Thursday two new personal payment features, free for users within the euro zone, which allow to pay off small debts between friends and family, as well as create a common fund to facilitate the collection of amounts for gifts or dinners.

The users with a Paypal account will be able to avoid the commissions when making small payments, one of the main barriers of the debtors when paying to friends or relatives through the online payment systems, as long as the operation does not entails a change of currency.

The company is committed to personal and collective personal payments

The company is committed to personalized and collective personal payments, while seeking to expand its user base through its application, whose main advantages, as it has underlined, are security in simple and free shipping, in addition to the possibility to claim the money owed to other users in this way.

As explained during the presentation by the general director of Paypal in Spain and Portugal , Raimundo Sala , although “money is changing” thanks to new technologies and mobile payment, “debts do not”. This is clear from the study on small debts in different generations commissioned by the company to Kantar Millward Brown.

According to the report, there is a small gap between those who claim that they owe a small amount of money and those who are their debtors (37% vs. 13%). There is also a differentiated perception between the amount owed and borrowed (36 euros versus 24). 36% of users also consider that the main obstacle when it comes to paying off debts is commissions.

The most common situations that cause small debts among Spaniards are, therefore, the acquisition of birthday gifts (64%), not having cash (62%) and lending cash at a specific time (61%). The main excuse for not returning the money is, according to 68% of the respondents, the forgetting of the debt, something that the application promises to solve.


For generations, the ‘millennials’ are the group with the smallest debts generated by the couple, with 52%, compared to 35% of generation X and 26% of baby boomers. However, family debts are the most common among all of them (67%), followed by the usual friends (65%) and the couple (40%), the average amount to be paid being 36 euros.

The baby boomers are, nevertheless, the ones who owe more money to their co-workers (48% compared to the Spanish average of 40%). The data of the study denote a proportional relationship with the purchasing power of each generation, so that the average debt of the oldest (42 euros) is 24% above that of the ‘millennials’ (32 euros).

The data agrees with the amount that most often these two groups owe: while 25% of baby boomers tend to accumulate debts between 51 and 100 euros, 44% of millennials move between 5 and 20 euros.

Credits for microbusinesses by crowdlending in Spain

Microenterprises, despite being the weakest business link in the economy of Spain, have a great importance in the economic base of our country. This is due to the fact that these micro-enterprises represent almost 95% of the total number of companies in Spain.

What are micro-enterprises?

A microenterprise is a small company. Micro-enterprises are part of small and medium-sized enterprises (SMEs).

In the European Union, a micro-enterprise is considered to be any company with less than ten salaried workers and an annual turnover (amount of money received) or a balance of less than 2 million euros.

In addition, it is usually the first step that an entrepreneur takes when developing his own business plan.

Micro loans

There are many reasons why SMEs decide to apply for online loans for micro-businesses through alternative funding for crowdlending. Among the most important reasons, there are 5 compelling reasons why it is convenient to apply for a loan for microenterprises.

Credits for agile and simple microenterprises

Getting credit for micro-businesses through crowdlending platforms such as MytripleA is very easy. Being an online service, those who have a microenterprise will not have to waste time on trips or long procedures. It is an agile and simple process, thanks to which, in approximately 48 hours, the entrepreneur can obtain his credit for micro-enterprises from completing the application.

Micro loans without additional products or services

Everyone knows the condition of contracting additional products or services in the form of insurance, cards or pension plans, when you need a credit for micro-enterprises through the most traditional financial institutions. These products increase the price of the product that is actually requested – the credits for micro-enterprises – indirectly. Thanks to the crowdlending platforms, it is no longer necessary to contract additional products, only credits for micro-businesses.

Credits for micro-enterprises with free amortizations

Thanks to the credits for micro-businesses through crowdlending, if at any given time the employer wants to make a partial or total amortization, you can do it without any cost. As MytripleA CEO Jorge Antón says: “One of the most important characteristics of MytripleA flexible financing is that the loan can be repaid free of charge”

Credits for micro-enterprises with the possibility of reducing interest on credit

Through crowdlending platforms, micro-enterprises have the possibility of reducing the interest rate on their credit. MytripleA sets a maximum interest rate that may be reduced by investors who reduce their own profitability. Who does not have friends or relatives who want to collaborate with their microenterprise to help them boost their business?

Credits for microenterprises that do not consume CIRBE

Credit for micro-businesses through crowdlending platforms does not consume CIRBE. The CIRBE is the acronym of Risk Information Center of the Bank of Spain, which records all debts owed, among others, by microenterprises. The credits granted through other financing entities such as banks are registered in said Central; something that does not happen with the credits granted by crowdlending platforms such as MytripleA.

Crowdlending in Spain: data and situation

El crowdlending en EspañaBoth the way of investing and financing in Spain has undergone a change in the last decade. Crowdlending is the modality of alternative financing which more followers have achieved in this period. Crowdlending has revolutionized the financial sector, modernized it and transformed it into a record time.

The success of crowdlending is due to a sum of factors that have coexisted in Spain in recent years. We tell you the factors that have given rise to this new financial scenario, as well as the evolution and current data.

What is the reason for the crowdlending settlement?

Crowdlending is the way of collective financing through loans to companies (or individuals) that are funded through the investment of other individuals.

Its origins are due to the sum of different variables that coexisted in the period of crisis in Spain. On the one hand, the strict conditions that banks began to establish for the granting of financing, and on the other hand, the development of technology that made possible the emergence of accessible online platforms. To this last factor, we can add the confidence of people to carry out part of their financial operations telematically.

For all this, the Fintech have achieved that crowdlending has more followers every day. Then we leave you the keys that have originated the new financial scenario.

  • Collaborative economy We are in the boom of collaborative companies. Society is changing its way of consuming and relating. Every day there are more businesses dedicated to the mediation of P2P supply and demand. The collaborative economy has also settled in the world of financing. Companies get more ethical financing thanks to multiple investors, who in turn receive a reward in the form of interest for their money. Both parties get better conditions.
  • Technology The Fintech have allowed to reduce the terms of the financing, in addition they make it possible to carry out all the online procedures. Benefit both for who requests financing and for the investor.
  • Better conditions Companies manage to finance their projects without small print and without the need to purchase additional products. On the other hand, investors can access higher returns.
  • More possibilities Both parties (investors and companies) can benefit from diversification. As a company you can diversify your debt to have a healthier financial structure and as an investor you can diversify your investment to reduce risks.

Below we show you in data the situation in which crowdlending is found in Spain.


Crowdlending in Spain

According to the study “Participatory financing in Spain, annual report 2017” crowdlending platforms are the ones with the highest volume of capital managed by all types of crowdfunding with more than 35 million euros financed in 2017.

Geographically, according to Statista data, 72% of Fintech companies are located between Madrid and Catalonia.

Fintech companies have also multiplied in recent years, doubling the number of companies in a year and establishing about 300 companies.

Now we focus on our specific data, we show you the market data of MytripleA.

The data of MytripleA

In MytripleA the intermediated volume has doubled from 2016 to 2017 with a growth of 189%. During the first half of 2018 we have already reached 35 million euros intermediated. Every day more private investors opt for MytripleA. Currently there are more than 4000 registered investors in our platform.

Regarding the geographical distribution of the companies that have been financed through MytripleA, Madrid is the Autonomous Community with the most volume financed with 40% of the total of the national territory with 135 loans. Followed by Catalonia (15%) and in third place Cantabria (14%).

Perspectives of crowdlending in Spain

The sources of alternative financing have already revolutionized the investment and financing of companies and individuals. Crowdlending continues with an unstoppable growth, and the positive trend suggests that it will continue along the same path.

What is happening in Spain with self-consumption and the change of Government?

¿Qué está pasando en España con el autoconsumo y el cambio de Gobierno?After the change of Government and the appointment of Teresa Ribera as the new Minister of Ecological Transition (Ministry that integrates Energy and Environment) opens a hopeful future for the renewable sector. The self-consumption and the derogation of the famous “sun tax” is on everyone’s lips, in the media and on the streets. Now we are going to analyze in what point we are and what are the expected changes in both the short and medium term.

What can we expect from Teresa Ribera regarding Self-consumption?

Some of the clues given by the new Minister of the Government of Pedro Sanchez make us glimpse where the energy policy of our country will turn. In the first place, it is committed to smart and renewable energy consumption, which makes SotySolar a success. In its first statements, it has emphasized the compensation cuts suffered by renewable energies due to the previous executive, has imposed as a priority the updating of the pricing system of the electricity bill, and regarding its opinion on the closure of nuclear power plants clearer the water : “I do not believe that the cost of closing the nuclear power plants is greater than that we continue to generate more nuclear waste or because we have to deal with more security for its maintenance and extension over time.”

To achieve his goals during his term, he intends to:

  • Develop a Law on Climate Change and Energy Transition in order to reduce harmful emissions with actions such as the prohibition of fracking, the repeal of the sun tax and the regulation of regulated gas and electricity costs.
  • Modify the current Public Procurement Law to include the new environmental and climatic requirements that will be applicable to all contractors and suppliers.
  • Create a Green Fund financed by the CO2 tax and that favors sustainable mobility with electric vehicles, the energy energetic transition towards self-consumption and distributed generation and the implementation of energy efficiency measures in all areas and sectors.
  • Develop a State Plan for Sustainable Rehabilitation of Housing and Urban Regeneration with the objective of rehabilitating more than 200,000 homes a year compared to the 23,000 currently rehabilitated. This Plan will generate more than 200,000 jobs.




What will happen to the Sun Tax?

Everything points to its repeal, that is clear, the important thing will be to know when. But first let’s talk about where we are now.

In January 2017, the attempt to overthrow the Sun Tax was paralyzed in Congress after the opposition of Citizens and the Popular Party. That was a long time ago and the situation has turned 360º.

Teresa Ribera has declared clearly that one of its main objectives is to repeal the tax on the sun and for that it is already working on a bill. One month before its landing in the government, the opposition parties with the exception of the Coalition Canary Islands once again rescue the Proposed Law of Urgent Measures for the Promotion of Electric Self-Consumption.

But, what is the Sun Tax?

The sun tax or backup toll as it is called in the self-consumption RD 900/2015 is a toll that regulates the technical and economic conditions of the different modes of self-consumption :

  • The tax does not apply to self-consumption facilities with power below 10 kW, so it does not affect the majority of domestic dwellings.
  • In self-consumption installations of more than 10 kW of installed power if this tax must be satisfied and there are modalities according to whether it sells the surplus energy or not.

In the next months, we will have news about it. But the idea seems clear. Self-consumption without any surcharge, with a net balance and with a simplified administrative record.

Shared self-consumption and Neighborhood Communities

Another of the main objectives is to give green light to shared self-consumption. The Constitutional Court repealed the articles of RD 900/2015 that regulated shared self-consumption in neighborhood communities. Nowadays there is a legal vacuum. The Autonomous Communities are responsible for regulating shared self-consumption but are waiting for the Central Government to express its opinion in this regard.

Allowing self-consumption in neighborhood communities means that the vast majority of the more than 25 million homes in our country would benefit directly from this measure. Currently, the owners who live in neighborhood communities are limited in terms of self-consumption since they can only install solar panels to save on the costs of community lighting.

Imagine a scenario where all citizens could enjoy self-consumption. Green employment would skyrocket. With this new ministry, it seems possible.

Installation of self-consumption and average savings

In the Report on the Situation of Residential and Commercial Solar Self-consumption in Spain published a few months ago, we indicated that the average bill for Spanish households was 127 euros and that with a self-consumption facility with current legislation the average saving was 34 % with an average investment of € 3,885 with an amortization of between 7-8 years.

This makes that currently, self-consumption is a real and profitable option but …

How would the net balance affect the amortization of solar panel installations?

If we take into account that:

  • the prices of photovoltaic will continue to fall, – in the period 2010-2017 the price of photovoltaic solar energy has fallen by 76% – and today is one of the cheapest options for generating energy,

and if we assume that

  • the net balance is implanted in our country with which the surplus of energy poured into the network is justly paid,
  • and that the installations of solar panels are encouraged

amortizations would be less than 5 years and would have a triple function: curbing climate change, generating employment and boosting the economy.

The net balance will arrive. It’s a matter of time.

Self-consumption is in luck

The objective is clear: we aspire to a 100% renewable future. But how? First, we must have confidence in the new Government. The words are not facts but everything indicates that there is the will in our country to decarbonize completely and finally bet on cleaner and more efficient energies. And this is where self-consumption with solar panels comes into play.

It’s time to say goodbye to coal and nuclear power. And although the farewell will be staggered, the time has come to bet on renewables being self-consumption the center of the new energy model.

In a time horizon of 15-20 years we can reach renewable generation quotas of 70% where solar, wind and geothermal energy will play a lesser role.

For this, as we have seen throughout the article should reform the energy policy, encourage shared self-consumption in conjunction with distributed generation, promote the net balance and sustainable mobility with the electric car being an essential element in family life

Now we just have to wait. The next months will be decisive. The past was black as coal but the future of ours is children will be green, of that there is no doubt.

Is self-consumption shared in Spain a reality?

El autoconsumo compartido en España, ¿es ya una realidad?As we mentioned in this blog, a couple of months ago, shared self-consumption is already a reality in Spain. Recently, the Constitutional Court repealed articles 19, 20, 21 and 22 of RD 900/2015, which finally opened its doors.

Specifically, the following section ceased to have effect “In no case can a generator be connected to the internal network of several consumers” (section 3, article 4), because it understands that it prevents the autonomous communities from exercising their powers to promote this type of facilities. “

But do not sing victory prematurely since this is only the first step towards self-consumption among neighbors, towards the net balance and towards the democratization of energy.

How does this modification affect the current situation of shared self-consumption?

The things clear and the chocolate thick. Although in some media it has been emphasized that this change completely opened its doors, I regret to tell you that the reality is not exactly like that, but it is the first stone on the road. Let’s go, then, to the heart of the matter.

The article repealed by the TC, all it did was to highlight what the rule does not allow. There is no term that defines the shared neighborhood network or any other similar name that might have so that in effect practices, this repeal of the TC has no consequence. We are facing a legal vacuum.

If we continue to investigate in legal matters, RD 1699/2011 and RD 1955/2000, as well as the Law of the Electricity Sector, maintain that it is forbidden to request a single connection point for several consumers that share a facility if they want to pour the surplus into a network .

What can we do to remedy it and make it a reality?

The ideal would be a reform at the state level that would allow us to adapt to the needs of consumption and the evolution of technologies, but it is an option that does not make sense in a short-term way. Therefore, it is necessary that the autonomous communities with powers in energy matters come into play and feel precedent. The ball is now on its roof.

Catalonia has taken the lead and in Barcelona recently the first shared installation has been carried out in a community of neighbors.

On the other hand, we must put ourselves in the worst scenario. As you all know, electric companies will not be able to do anything easily and probably try to delay self-consumption for neighborhood communities . Therefore, carrying out an installation of solar panels of this type without a defined regulatory framework can have consequences, since they could include charges that had to be paid retroactively. Personally, I am of the opinion that the current RD 900/2015 – the famous sun tax – will be the most unfavorable regulations that we will see.

There are unknowns that have not been totally clear. Facilities larger than 10 kW must pay the corresponding tolls, but in the case of shared self-consumption, to what or to whom does the limitation of 10 kW apply? That is to say, the total size of installation of solar panels must be 10 kW or each neighbor of the community will be entitled to enjoy 10 kW without charges and in this way the size of installation allowed would be 10kW for the number of neighbors.

A better future is feasible and it is getting closer

Despite the stagnation in the negotiations between Citizens and Government to repeal the famous Royal Decree, we must not lose hope. Europe pushes.

European regulations allow the sharing of facilities for both urbanizations and neighborhood communities and the net balance. The net balance is a form of use and payment of energy . The consumer generates his own electricity and can compensate for the excess of photovoltaic energy discharged to the network, so that he can dispose of that excess at another time. Pay for the energy you pour into the network! Currently in Spain, you can pour energy but without any kind of remuneration, nonsense.

Will 2018 be the year of solar energy and electric self-consumption?

It is a question that I dare not answer, but one day will come a day in which we can generate and share our energy and the net balance become a reality. It is imperatively necessary to break with the current centralized energy model.

In the future, the installations of solar panels relocated within the same municipality will be allowed. What does this mean? Well, if a municipality has a public building with a lot of space on the roof, it can be made available to interested neighbors to take advantage of this solar energy installation. However, they must pay a small toll for the transport of energy from the roof to the point of consumption

We are heading to a future where energy will be free and of all. It is a slow process, and from SotySolar we will continue to close our shoulders to accelerate this future. It is only necessary to remember that the sun is our main asset to be energy independent as a state, and it is the best tool we have to comply with our environmental commitments.

Spain will triple the MW of self-consumption without the "sun tax"

España triplicará los MW de autoconsumo sin el “impuesto al sol”

The days of the sun tax have come to an end

The days of the sun tax have come to an end for a double reason:

Europe has just approved the new renewable directive and in it, it is prohibited to apply charges to energy self-consumption until December 2026. Thereafter, it can be reviewed by the states after justification.

Spain, with the new Government and through the Ministry of Ecological Transition has confirmed that this tax will be repealed.

How has this great change come about?

The role of Spain has been decisive. The triumvirate of the new minister Teresa Ribera, MEP José Blanco and Commissioner for Energy and Climate Miguel Arias Canete have joined forces to end the backup toll levied own consumption in our country.

According to this Directive, any self-consumption installation of less than 25 kW of installed power will not pay any costs associated with the production and discharge of energy. In 2026, the states will be able to revise it and may impose a toll if solar installations of less than 25 kW represent more than 8% of the total installed power of a country.

We are talking about excellent news but it does not help the photovoltaic industry in the short term, since it will come into force in the year 2020.

However, what if you have an immediate effect it is the repeal of tax or toll backup sun appears the RD 900/2015 since the parliamentary groups of the PSOE and United We Can already processed the bill measures urges to promote electric selfconsumption. This will arrive at the congress at the end of September 2018.

NO to sun tax, NO to administrative obstacles and YES to shared self-consumption

The regulations still in force have been an economic, psychological and administrative obstacle. Despite efforts to curb self-consumption, it is more alive than ever.

With the Proposition of Law, previously mentioned, we will have a regulation that will eliminate the barriers and the brakes imposed on self-consumption in Spain. It will mean a drastic change in energy and it is only the first step.

  • The economic barrier will disappear with the elimination of the sun tax . It is worth advancing that the closure to the net balance opens. An owner will be able to install solar panels to generate more electricity than his house needs to sell the surplus to the electric network at market price.
  • The administrative barrier will also be a thing of the past. With the ipso facto approval of the access and connection RD to the transport networks and administrative conditions of self-consumption, all the procedures will be simplified.
  • Shared self-consumption will be possible. All citizens regardless of where they live can enjoy the benefits of solar energy. A community of owners can put solar panels on the roof of their building and each of the neighbors of the block can benefit from the photovoltaic production with the consequent savings on their bill.

All media in this country will echo these changes as they are introduced. The general perception of the citizens will suffer a change and the fears and insecurities present in the majority of consumers will disappear.

Growth of self-consumption

According to the SotySolar data, in 2017 135 photovoltaic MW were installed. Growth forecasts improve substantially in this 2018, with an estimated increase of around 250-300%, and this upward trend will continue to be seen over the next few years.

In summary, the sun tax disappears, administrative procedures will be much simpler and collective self-consumption will be allowed. Fill in your numbers, if with the current regulations self-consumption was already profitable, what do you think will happen when these measures come into force for self-consumption?