Spanish Competition Authority begins a disciplinary proceeding to Iberdrola due to energy tariffs manipulation

Spanish National Commission on Financial Markets and Competition (CNMC, according to its initials in Spanish) has decided to begin a disciplinary proceeding to Iberdrola Generación due to its actions previous to last December’s energy bid that the Government nullified to avoid an 11%  rise of energy price.

According to CNMC’s website, Iberdrola can be fined based on Article 60, Section 15, of the valid Energy Act at that time. It establishes that «fraudulent manipulation leading to a change in the price» is «a very serious infraction«.

FACUA-Consumers in Action expects that, if the very serious irregularities are proved, CNMC will fine with the maximum penalty fixed by the law for this kind of infractions.

The association warns