Italian utilities apply for gas and oil subsidies as renewables boost Italian electricity.

Central and southern Italy is deriving nearly all its electricity needs from renewables at present. Italy is on track to meet its EU quota of 26% of total electricity output from renewable sources by 2020. FT: “These fast-moving developments, unforeseen by big industry, have been driven by a collapse in demand due to Italy’s double-dip recession and a four-fold increase in solar energy capacity over the past year. As a result major utilities have lobbied to win subsidies known as “capacity payments” for their conventional and semi-idle thermal power stations after over-investing in new plants.”