Energy reform will have no 'significant' effect on consumer prices: Official

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.

Join ST's Telegram channel and get the latest breaking news delivered to you.