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Spain: National Court strikes down €22.6 million Repsol fine

By  |  August 28, 2017
Spain: National Court strikes down €22.6 million Repsol fine

Spain’s National Assembly has annulled a fine of €22.6 million euros (US$27 million) imposed on energy giant Repsol in 2015 by the National Commission on Markets and Competition (CNMC) due to breaches in price formation and discount application. The Assembly’s decision comes after it determined that there was a defect in the case presented by the CNMC against the oil company.

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    Specifically, Repsol appealed the fine on the grounds that the CNMC mistakenly attributed responsibility for anti-competitive conduct to Repsol SA, since it exercised influence in the decision-making of its subsidiary companies, in this case Repsol Comercial de Productos Petrolíferos, a company where Repsol owns 99.78% of shares.

    In its appeal against the initial ruling, the oil company claimed that the attribution of the crime is contrary to the principles of personal responsibility and guilt enshrined in European Community legislation. He adds that Repsol S.A. does not carry out activities in the fuel distribution markets through service stations, an activity carried out by Repsol Comercial de Productos Petrolíferos.

    The judgment, which did not make assessments as to whether the sanctioned behaviors were or were not uncompetitive, the Assembly emphasized that in the field of competition law “it is clear” that there is a distinction between the perpetrator and the person responsible for actions taken by the subsidiary.

    Full Content: ABC News

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