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.”
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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI