Iberdrola Generacion, a subsidiary of Spanish power company Iberdrola, is being fined €25 million (US$26 million) for the price it charged for power from several hydro facilities in late 2013.
Spain’s La Comision Nacional de los Mercados y la Competencia (CNMC), or National Commission on Competition and Markets, said in late November that by reducing supply from its Duero, Sil and Tajo river hydropower plants between Nov. 30 and Dec. 23, 2013, the utility had increased the estimated daily market price of electricity by about €7 (US$7.65) per megawatt-hour.
-- Duero: 810-MW Aldeadavila I, 433-MW Aldeadavila II, 113-MW Castro II, 251-MW Saucelle I, 269-MW Saucelle II, and 119-MW Villalcampo II
-- Sil: 263-MW San Esteban
-- Tajo: 200-MW Azutan, 500-MW Cedillo, 957-MW Jose Ma Oriol, 132-MW Torrejon, and 249-MW Valdecanas
Iberdrola Generacion has denied doing anything wrong and said it will appeal the fine to Spain’s High Court.