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Spain: CNMC fines Portugal’s Galp over unfair sales strategy

By  |  May 30, 2016

Spanish regulator CNMC has fined Portuguese energy company Galp Energía 400,000 euros. The company is accused of entering gas and electricity supply contracts without full consent from their customers, using “abusive or fraudulent sales strategies, pretending to be a different company, or through deceit.”

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    The case dates back to between May 2012 and 2013, a period in which CNMC authorities received 38 similar complaints. These complaints were deemed by the Super-regulator to “undeniably represent a common pattern.” And while 38 complaints may seem like a small number, the agency has pointed out that they have “never received such a large number of complaints against a single agent in such a brief period of time.”

    The fine, which was split through the middle with 200,000 euros for gas contracts and an equal amount for electricity, represents a mere 0.0091% of the company’s 2014 sales. Galp stepped out of the retail gas and power market last October, after transferring its roughly 230,000 customers to Spanish rival Endesa, in a 35 million euro transaction.

    Full Content: El Economista

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