Spain: Fine on electric companies overturned

Spain’s National Assembly has officially overturned a series of fines imposed by the CNMC on five electric companies accused of price-fixing and obstructing free competition.

The CNMC’s report included personal e-mails between company executives, which revealed a strategy meant to hamper the Government’s planned changes to the sector.

The Assembly’s decision to overturn the fine hinges on a previous decision by the Supreme Court, which annulled the findings of a 2009 inspection to one of the accused companies.

The companies involved have also been accused of engaging in information exchanges, allowing them to divide customers and raise local electricity prices.

Full content: El Confidencial

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