Spain’s competition authority, the CNMC, announced Tuesday it is launching an investigation into the pricing patterns of energy firm Iberdrola to investigate possible price-manipulation, reports say.
Iberdrola confirmed the probe and said it will focus on hydraulic installation projects that occurred late last year. The company denied any wrongdoing.
Sharp hikes in energy costs lead officials to overrule the results of wholesale power auctions last December. While the investigation is not reported to be related to the auctions, officials have kept a close eye on energy prices since the price increases.
Full content: Reuters
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