MADRID (REUTERS) - An overhaul of Spain's energy market, set to be passed later on Friday, will not have a significant effect on consumer prices, Economy Secretary Fernando Jimenez Latorre said.

Asked whether the reform will lead to an increase in consumers' power bills, Latorre said at news conference: "I don't forecast that it will have a significant impact on the (consumer price index)." Five sources said earlier on Friday that the cost of the reform, which will aim to close a multi-billion-euro gap created by years of mismatched regulated prices and costs, is expected to be taken on by Spain's main utilities and consumers.