España: CNMC celebra reunión de lucha contra cárteles de la Red Internacional de Competencia

Spanish Competition Watchdog To Lower The Financial Burden On Electricity Traders

Spanish competition watchdog CNMC will lower the financial burden on around 300 smaller Spanish electricity traders and direct electricity consumers when depositing collateral payments in an attempt to help them stay afloat, the regulator said on Monday.

The CNMC said it was adopting these measures, like adjusting the calculation of guarantees to use the most accurate measurement, to reduce the impact of high prices on the financial solvency of these companies.

Those measures come at a time when European financial regulators are examining relief measures to defuse a crisis for energy suppliers, as power prices surge following Moscow’s slashing of supplies.

Energy firms sought to buffer themselves from price rises through derivatives tied to the future cost of energy.

In order to keep these contracts open, the companies must post a “margin” in cash but that has ballooned with rising prices following Russia’s invasion of Ukraine.

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