Spain’s Supreme Court ordered the
government to raise the price of power for consumers to cover
more of the costs of delivery.
The ruling follows appeals by Iberdrola SA (IBE) and Endesa SA (ELE)
against the government’s decison to freeze power prices in
January, according to the court ruling.
The increase will be backdated to the start of January and
may raise revenue by at least 900 million euros ($1.2 billion),
Cinco Dias reported earlier today.
To contact the reporter on this story:
Ben Sills in Madrid at
To contact the editor responsible for this story:
Reed Landberg at
Press spacebar to pause and continue. Press esc to stop.