Industry begins reform talks with power companies

This is a key week for power companies. The Ministry of Industry is prepared to start a series of talks with the industry's biggest companies. The Secretary of State of Energy, Fernando Martí, has planned to meet individually with the CEOs of Spain's top power companies with the intention of opening a dialogue about major energy reforms.

The executive council of Gas Natural Fenosa, Rafael Villaseca, is likely to kick off the meeting series, but his company has refused to provide any comments about this matter. Why such secrecy? The Spanish government has asked the companies to uphold a maximum level of discretion until nailing down the finer points of this second round of cutbacks.

José Luis San Pedro, Director of Business and Operations for Iberdrola, will meet with the Ministry today, also, but he will not be acting officially as general counsel. That said, rumors have been spreading for the past couple of weeks that Iberdrola will promote internally one of its ejectives to this role.

Lastly, Endesa's general counsel, Andrea Brentan, will meet with the Ministry this Friday. She has been on official business in Argentina to discuss power tariffs there, but returns to Spain today.