Spain’s Supreme Court Orders Government to Raise Power Prices

March 14 (Bloomberg) -- 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 and Endesa SA 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.

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