Legal teams at electric companies are now preparing to deal with Spain's energy reform, which will affect their accounts by at least 1.083 billion dollars.
The CEO of Iberdrola was the first to raise his voice, asking that the new tax burdens and premiums get spread evenly in order to avoid restrictions to competition. Another worrisome aspect is that the bailout will reduce earnings for the companies. Job cuts would also be possible.
The bill is starting to go through the parliamentary procedure and will get an opportunity to smooth out the rough edges and avoid later appeals, which could distort the reform's purpose: getting rid of the tariff deficit.
