The Socialist government, in power since April, was granted an extension until August 1 to present a plan to Brussels for reducing its greenhouse emissions under the Kyoto Protocol.

In a reference to Madrid's delay in addressing climate change issues, Narbona said that Spain "would finally make progress on this hitherto uncharted path in our country."

Spain's greenhouse emissions rose 39 percent in 2000 and soared 41 percent in 2003, compared with the 1990 base year.

To be in compliance with Kyoto, Spain secured the right to cap to 15 percent the increase of emissions of CO2 (carbon dioxide) and five other gases contributing to the greenhouse effect between 1990 and 2012.

Narbona called this goal "feasible" given Spain's rich sources of renewable energies such as solar power and natural gas.

On Monday the Spanish government released its preliminary plan to reduce greenhouse emissions.

This week's meetings with top industrialists are meant to finalize the numbers and quotas outlined in the plan.

The scheme indicates that from 2008-2012, Spain would mostly use the future carbon emissions market to meet its Kyoto obligations.

The future carbon emissions market allows industrialized, signatory countries of the Kyoto Protocol to buy and sell allocations of carbon emissions in order to meet their obligations. While Spain's plan would target emissions from big industries such as the electricity sector, it would also aim to reduce emissions in such sectors as transportation, agriculture and building construction.

The plan, which puts a ceiling on Spain's greenhouse emissions from the electricity sector at 88 tons per year until 2008, "would certainly have an effect on electricity prices," said Honorato Lopez Isla, the director general of Union Fenosa, the country's third largest electricity operator. "This number is not exactly what we wanted, but it's close," he said.

Endesa, the electricity sector leader, claimed it was "reasonably satisfied by that goal, underlinging that it had already reduced CO2 emissions by 32% between 1990 and 2003, compared with a 14% reduction for the sector as a whole.

Narbona promised that the government would "minimise" the effects of the emissions reduction plan on consumers.

The Kyoto protocol was signed as a framework agreement in 1997 under which rich industrialised countries would curb emissions of "greenhouse" gases -- including carbon pollution from the burning of fossil fuels that scientists say is dangerously affecting Earth's fragile climate system.

The Kyoto Protocol requires wealthy industrialised countries to make an overall cut of 5.2 percent in emissions of carbon dioxide gases by 2012.

Since Washington turned its back on the Kyoto Protocol in 2001, its ratification by Russia is now essential for the deal to become an international treaty.

Russia has been dragging its feet on ratification, holding out for further concessions from the European Union, Kyoto's champion.

SPACE.WIRE