FACUA finds ridiculous the fine imposed to Iberdrola for manipulating the price of electricity
The association considers that the 25 million Euros penalty imposed by the CNMC does not have a deterrent effect to prevent frauds of this magnitude from happening again.
FACUA.org
España-30/11/2015
FACUA-Consumers in Action finds absolutely ridiculous the 25 million Euros fine imposed by the National Commission on Markets and Competition (CNMC, according to its initials in Spanish) to the company Iberdrola Generación for manipulating the price of electricity.
The organisation considers outrageous that such a serious offense is settled this way, since this penalty does not have a deterrent effect to prevent frauds of this magnitude from happening again.
Specifically, this fine refers to Iberdrola’s actions regarding the price increase of the offers of the hydroelectric plants of the Duero, Tajo and Sil rivers, between the 30 November and 23 December 2013. Due to the suspicions that the company had manipulated the market, the Government decided to change t
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