Saturday, May 14, 2011

60 million to power by obstructing competition

The National Competition Commission (CNC) has fined 60 million euros to the five major energy companies, Iberdrola, Endesa, Gas Natural Group, Hydro of Biscay and E. ON , for obstructing the change of free-market and have agreed prices.

The presiding body Luis Berenguer believes that electric grouped coordinated Unesa acted in the months prior to July 2008, when the sector was liberalized, to strengthen their market power.

The council accuses CNC electrical data have refused "to make it difficult for independent marketers access to customer data that the law provides, and coordinate among them cutting operations management applications changes in contract to seek offers its services on the open market.

In a statement, the agency also convinced that the power "would have agreed within Unesa , prices and other trading conditions for large customers when they left the market, "coinciding with the disappearance of the regulated rate for nearly three years.

Having noted the contents of the indictment, has advanced Unesa appeal the decision of the CNC to the courts.

This penalty is imposed after examining a dossier opened an investigation following the CNC began in June 2009 in response to a request from the Association of Independent Power Marketers (ACIE).

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