⚖️💶 CNMC fines Repsol €20.5 million for anti-competitive practices

Oneliner

The CNMC has fined Repsol, Solred, and Campsa €20.5 million for anti-competitive practices during the 2022 energy crisis. The regulator found that Repsol engaged in an "abusive margin squeeze" that harmed independent service stations by raising wholesale prices while offering discounts at its own stations. In addition to the fine, the companies are barred from public contracts for six months. Repsol plans to appeal the decision, claiming the CNMC's investigation was flawed.

Key points

• Repsol fined €20.5 million for abusive margin squeezing during the 2022 energy crisis.
• The company is barred from participating in public contracts for six months.
• The CNMC's ruling highlights significant anti-competitive practices affecting independent service stations.
• Repsol plans to appeal the decision, citing methodological errors in the CNMC's investigation.

Links

• 20minutos: La CNMC multa con 20,5 millones a Repsol, Solred y Campsa por pactar precios de gasolinas
• El Mundo: La CNMC multa con 20,5 millones a Repsol por los descuentos en sus gasolineras durante la crisis energética de 2022
• RTVE: La CNMC multa con 20,5 millones a empresas del grupo Repsol y les prohíbe participar en contratos públicos
• ABC: Multa de la CNMC a empresas del Grupo Repsol por prácticas que perjudicaron a gasolineras rivales
• Cadena SER: Competencia multa con más de 20 millones de sanción a Repsol por subir precios a sus competidores en plena guerra de Ucrania
• Público: La CNMC multa con 20,5 millones a varias empresas de Repsol y les prohíbe optar a contratos públicos

Facts

• Repsol fined €20.5 million for anti-competitive practices.
• The CNMC's ruling prohibits Repsol from public contracts for six months.
• The investigation began in late 2022 after complaints from industry associations.
• The margin squeeze practices occurred between April and December 2022.
• Repsol held a dominant position in the wholesale market for automotive fuels.

Quotes

• The conduct is particularly serious because the competitors were low-cost service stations, which helped to energise the market in areas of high demand — Cani Fernández, CNMC Chair.
• We are convinced that the courts will rule in our favour — Repsol spokesperson.

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