The CNMC, Spain’s antitrust watchdog, has initiated an inquiry into Endesa and conducted a search of its headquarters in the past few days, according to a spokesperson for the electricity utility, on Thursday.
The spokesperson stated that they are cooperating with the investigation and are awaiting updates. The object or nature of the CNMC’s investigation was not disclosed. Endesa is currently under the control of Enel, an Italian power company, reported Reuters.
The CNMC has initiated investigations of local companies in response to energy price fluctuations caused by the post-COVID recovery and the conflict in Ukraine.
The organization conducted investigations into both oil companies and electricity retailers, with a focus on potential abuses in the wholesale electricity market.
