In
a
research
note
on
European
utilities,
Renewable
subsidies:
a
double-edged
sword,
Credit
Suisse
argues
that
renewables
are
becoming
unaffordable.
The
cost
of
subsidies
has
risen
to
€32bn
($40.8bn)
per
year
across
the
five
largest
EU
power
markets,
and
the
growing
impact
on
public
finances
means
they
“should
be
considered
a
problem
alongside
the
eurozone
crisis”,
it
says.
It
adds
that
the
buildout
of
renewables
has
reduced
margins
by
€4-9
per
MWh.
Utilities
are
still
dependent
on
their
traditional
power
business,
so
while
their
renewables
activities
are
showing
healthy
rates
of
return,
their…
