Wednesday, 25 May 2011

Electricity companies fined for anti-competition activity

SPAIN (Agencies) The Comisión Nacional de Competencia (CNC, National Competition Commission) recently fined the main electricity companies to the tune of over €60,000,000 for making it difficult for customers to change supplier and for trying to fix prices for large clients after the system was deregulated. Endesa was fined 42.6 million; Iberdrola, 21.6; Gas Natural Fenosa, 8.8; HC, 1.8 and E.On Spain, €1.42 million. All of them for "infringing the laws defending consumers." Also fined with €900,000 was the industry's federation,Asociación Española de la Industria Eléctrica (Unesa), because the commission believed that not only was it agreed among the association's members to make it difficult to change suppliers, but also to fix prices for large clients. Various consumer organizations, including the Organización de Consumidores y Usuarios (OCU) and the Asociación General de Consumidores (ASGECO) have applauded the measure. (Note: Endesa's latest income report amounts to €8.363 million, i.e. well over €8billion. Forty two million is small change to this dismal company with which we appear to be stuck in this area, as the image taken recently in the Campo de Gibraltar would illustrate if it were true that we took it.)

No comments: