Spain: Iberdrola inflated price of electricity, says Civil Guard

The Central Operative Unit (UCO) of Spain’s Civil Guard have announced their discovery of Iberdrola emails, internal communications and Excel files that underpin the accusation against the power company for allegedly inflating the price of electricity during the fall of 2013.

The result was a very high price for electricity, leading to the opening of an investigation by the National Commission for Markets and Competition (CNMC). The agency determined in November 2015 that Iberdrola had reaped a profit of €21.5 million (US$26 million) and had caused a negative impact equivalent to a furth…

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