Spain Hits Endesa, Others With €60M Antitrust Fines

Law360, New York (May 16, 2011, 2:27 PM EDT) -- Spain's antitrust watchdog fined the country's five biggest electric utilities more than €60 million ($85 million) Friday for agreeing to fix rates for large customers and make it harder for consumers to change providers.

Endesa SA and Iberdrola SA bore the brunt of the penalties from the Spanish Competition Commission, or CNC, with fines of €26.6 million and €21.6 million respectively in the two-year-old antitrust investigation into claims that the utilities were trying to set electric rates for major customers and block access to key information...
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