Spain govt working on decree to change power price auctions -source

MADRID Fri Dec 20, 2013 7:02am EST

MADRID Dec 20 (Reuters) - Spain's Industry Ministry is working on an urgent decree to change the way quarterly auctions of wholesale electricity prices are carried out, a source with knowledge of the plans said on Friday.

"A decree with urgent measures is being prepared and will likely be presented in the last weekly cabinet meeting of the year," the source said. The meeting will take place on Dec. 27.

The Industry Ministry declined to comment.

However, Industry Minister Jose Manuel Soria said on Friday in a radio interview that the time had come to review the way electricity prices are set in Spain.

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