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Spain: Regulator fines Iberdrola over hydro power prices

By  |  December 1, 2015

A Spanish regulator said on Monday it would fine a subsidiary of power company Iberdrola 25 million euros ($26 million) over the price it charged for electricity from several hydroelectric plants in late 2013.

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    The case involved prices charged for power produced from hydroelectric plants on the Duero, Sil and Tajo rivers between Nov. 30 and Dec. 23, 2013, Spain’s National Markets and Competition Commission said in a statement.

    The regulator said that, by reducing supply from the plants, Iberdrola had brought about an increase of about 7 euros per megawatt hour in the estimated daily market price of electricity. But Iberdrola Generacion denied any wrongdoing and said it would appeal against the fine to Spain’s High Court.

    Full content: Reuters

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