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Spain Q3 retail electricity prices to rise 1.5 pct

Source: Reuters - Thu 30th Jun 2011

Spanish small-scale consumers will have to pay 1.5% more for their electricity in the third quarter if they choose regulated over free market rates, the Industry Ministry said on Thursday.

The rise will affect about 20 million out of 27 million consumers entitled to the fixed or "last resort" rates. Spain's electricity market has been deregulated for all but small consumers.

Regulated retail rates are based on the outcome of a quarterly power futures auction, the latest of which was held on Tuesday.

The new rates will influence revenues at utilities including Iberdrola , Endesa , Gas Natural and Hidrocantabrico.

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