Spain Adds $32 Billion Power-System Bailout to Rescue of Banks

Spain Adds $32 Billion Power-System Bailout to Rescue of Banks

Angel Navarrete/Bloomberg

Power companies such as Iberdrola SA and Gas Natural SDG SA booked more revenue than they received from their clients for most of the past decade - the difference between government-set prices for buyers and sellers - with the shortfall booked as receivables on their balance sheets.