Iberdrola appeals the fine of 435 million from the Mexican regulator

MADRID, 18 Jun. (EUROPA PRESS) -

Iberdrola has filed an appeal against the record fine of 9,145 million pesos (about 435 million euros) imposed by the Mexican Energy Regulatory Commission (CRE) on its subsidiary Iberdrola Energía Monterrey (IEM) for the sale of electricity produced under the self-supply scheme.

The company has requested protection from the Third District Court in Administrative Matters, Specialized in Economic Competition, Broadcasting and Telecommunications based in Mexico City and jurisdiction throughout the country to claim the discussion, approval and issuance of the fine announced last 25 of May. This is the highest fine imposed so far by the CRE, followed far behind by the one imposed in 2017 for 112 million pesos.

Iberdrola questions the amount of the penalty imposed for the sale of energy to the more than 500 partners it has at the Dulces Nombres de Pesquería plant, in Nuevo León, under the self-supply formula.

Iberdrola alleged that the use of the invoices provided by the Tax Administration Service (SAT) to demonstrate the alleged illicit violation of its fiscal secrecy, but the allegation was rejected.

Now the company requests protection, but the specific accusation indicates that the economic sanction is not only for IEM, but for other partners of the Dulces Nombres plant, according to the Mexican newspaper 'La Jornada'.

Iberdrola presented last Monday another request for protection against another CRE resolution for the sale of energy produced at the Querétaro plant operated by Iberdrola Energía Bajío for intending to include 519 partners in the project. The application has been admitted for processing.