The CNMC fines Naturgy with 6 million for manipulating the price in the electricity market of restrictions

It also forces him to return 35.5 million for the benefit obtained from the infringement and the company will file an appeal

The National Commission for Markets and Competition (CNMC) has imposed a penalty of six million euros on Naturgy Generación for offering adjustment services for electricity generation, specifically in the market for technical restrictions, at excessive prices and disparate, with respect to their offers in the daily electricity market, without justification, in order to increase their income, reported the regulator.

In addition, in order to compensate for the extra costs caused, a compensatory contribution of 35.5 million is imposed on the settlements of the system operator, to compensate for the damage caused by reducing the costs of the acquisition of energy by the demand. This amount will be distributed among the claim in a number of months equal to those that the action lasted, that is, a total of 22 months.

Company sources told Europa Press that they will appeal this sanction to the courts. Naturgy may file a contentious-administrative appeal against the resolution before the National Court within a period of two months from the day following its notification.

Initially, it was estimated that the contribution for these benefits from the infringing conduct should amount to 43.2 million euros, although in the allegations provided by the company this amount was reduced to 35.5 million euros.

In its allegations, Naturgy Generación defended that the plant had "consistently formulated (and not only in the analyzed period) its restricted offers seeking to reasonably recover -if not succeeding- its total costs based on the best and imperfect estimate of competitive conditions in every moment."

Likewise, regarding the benefits derived from the infringing conduct, Naturgy Generación highlighted that, in the last ten years, the plant has obtained a generally negative Ebitda".

Specifically, the sanction imposed by the regulator on the energy company refers to the actions carried out in the market segment of technical restrictions by its combined cycle plant 'Sabón 3', in the electrical zone of Galicia, during the period from 23 March 2019 to December 31, 2020.

According to the CNMC, 'Sabón 3' took advantage of situations in which competition in the restrictions market was low to increase its offers in the technical restrictions market and thus obtain higher income.

In this sense, article 65.33 of Law 24/2013, of the Electricity Sector, determines as a serious infraction "manipulation of the price of adjustment services by a market agent by making offers at excessive prices, which are disparate in an unjustified manner from the prices offered by it in other segments of the production market".

Likewise, article 69.1.b) of the same Law establishes that "when it is not possible to restitute things or restore them to their natural state, indemnify irreparable damages for an amount equal to the value of the destroyed goods or the deterioration caused, as well as as well as the damages caused, within the period established".

In this way, the body chaired by Cani Fernández indicated that it is appropriate to apply, in addition to actions of a punitive nature, other additional measures of a compensatory nature, which allow the claim to be compensated for the damage caused by this illegal conduct.