Spain/Portugal: Portuguese regulator reveals “suspicions” over shared energy market manipulation

Portugal’s energy regulator, ERSE, has revealed certain “suspicions” of price manipulation in the wholesale electricity market that the country shares with its neighbor, Spain, through the Iberian Electricity Market (MIBEL). The regulator has expressed these doubts before the European Agency for the Cooperation of Energy Regulators (ACER), as well as Spain’s CNMC.

The government of Portugal has informed ACER of “suspicions of a potential violation” of the European Regulations that oversee the integrity and transparency of the wholesale energy market, including prohibitions to “manipulation … of wholesale markets …”

Within the CNMC, sources have confirmed that, “given that the supervision of the Iberian market is carried out in a coordinated manner by both regulators in the field of MIBEL”, ERSE has informed the Spanish regulator “of the opening of this procedure”. “Regardless of the opening of this case by the Portuguese regulator, as usual, both authorities continue to monitor the evolution of the market price and analyzing the existence of possible anomalous behavior,” said the CNMC.

Full Content: El Diario

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