The Spanish government plans to increase a cap set on how much companies can invest in power grids through 2030 and expects investments tied to the trunk network worth 13.59 billion euros ($15.94 billion), Energy Minister Sara Aagesen said on Friday.

A massive blackout that hit Spain and Portugal on April 28 reignited a debate about investment needs in the country’s power networks.

Under Spanish rules, the amount of money energy companies can pour into networks every year is limited to a small percentage of the country’s gross domestic product, since consumers ultimately bear the cost with their bills.

Aagesen added that the country expects 27.7 GW of new demand in the transport grid through 2030.

The massive increase in renewable power generation in the past few years paved the ground for the new planning, whose pillar will be new demand, she said.

The government will set up a committee to work on optimising the use of its networks, Aagesen said, adding that the country granted access to the power networks to some 43 GW of new demand between 2020 and 2024.

Source: Globalbankingandfinance