A PYMNTS Company

Spain’s Antitrust Regulator Raids Power Firms

By  |  June 28, 2023

Spain’s antitrust watchdog CNMC has conducted a series of raids at major power utilities, including the most recent one last Friday. These raids are part of an investigation into suspected abuse of dominant position and other anti-competitive practices, as stated by the CNMC on Wednesday.

The CNMC stated that the alleged illegal practices had an impact on the markets of equipment and meter installation, electricity trading, and auto-consumption operations.

Related: Spain’s CNMC Approves Bank Acquisition With Conditions

The regulator conducted raids from April 24-28 and then from June 19-23 on “relevant companies in the electricity sector,” as stated in a press release. The names of the firms were not disclosed.

Last week, power utility Endesa, a subsidiary of Italy’s Enel, announced that its headquarters had been searched by CNMC as part of an investigation, without providing details on the reasons.