The National Commission for Markets and Competition (known by the acronym CNMC in Spanish) has closed the inquiries that it opened in 2011 against Iberdrola, Gas Natural and E.ON for alleged price tinkering. Despite signs that this happened, the CNMV was not able to prove it.
Clearly, the investigation points to cracks in the system that needs to be repaired. It seems like this project was effective given the Ministry of Industry will change the law to eradicate legal loopholes that power companies use to fool with prices.
