The National Commission for Markets and Competition (CNMC) is investigating possible abusive practices by 35 small and medium-sized electricity resellers within the framework of the Iberian exception mechanism. According to the complaints received by the competition regulator, the 35 investigated could have acted in concert to profit in the intraday energy purchase market to sell it later at a higher price in the French market.
The disciplinary procedure was opened on March 16 after OMIE, the electricity market operator, detected anomalous behavior with regard to the European operating rules and the transparency of the Remit market.
In which the group of companies investigated could have coordinated through their market manager to enter orders close to market closure and purchase cheaper electricity in the Spanish market, to then sell it again for export to France at a considerably higher value.
The CNMC assures that it is a minor technical evaluation. “As its name "Remit sanction procedure" indicates, it addresses a minor technical issue related to the electricity market and has nothing to do directly with the gas cap. Currently, it is under investigation, so the CNMC, as it does with the rest of its investigations, cannot offer more details in this regard. The maximum period to resolve the file, in accordance with sectoral regulations, is 18 months ”, explain sources from the organization chaired by Cani Fernández.
The CNMC has identified the list of companies subject to this investigation on its website.
