Spain increases electricity bills to trim deficit
Spain said power prices would rise by 7 percent to help contain an accumulated 24 billion euro (20 billion pounds) deficit due to utilities selling electricity below nominal costs. Industry Minister Jose Manuel Soria said on Friday the increase would have been 30 percent if consumers alone had been required to pay to keep the “tariff deficit” within legal limits for this year, and to eliminate it next year. But utilities would also contribute by Continue reading Spain increases electricity bills to trim deficit