A PYMNTS Company

Spain: Energy prices concern competition watchdog

 |  June 17, 2014

Spain’s competition authority, the CNMC, announced Tuesday it is launching an investigation into the pricing patterns of energy firm Iberdrola to investigate possible price-manipulation, reports say.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Iberdrola confirmed the probe and said it will focus on hydraulic installation projects that occurred late last year. The company denied any wrongdoing.

    Sharp hikes in energy costs lead officials to overrule the results of wholesale power auctions last December. While the investigation is not reported to be related to the auctions, officials have kept a close eye on energy prices since the price increases.

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.