The Spanish energy giant iberdrola agreed to pay a fine of 200,000 euros ($218,000) for a “deceptive business practice” in 2021, the anti-fraud service announced Thursday in France.
“The facts are due to a difference in rates between the prices shown and those applied, and also of duration in a period in which the prices were blocked”, indicated the General Directorate of competition, consumption and fraud repression (DGCCRF, according to its acronym in French).
These practices, carried out between July 7 and October 6, 2021, “constitute a crime of deceptive business practice”, specified this organization, linked to the French Ministry of Economy.
“With the agreement of the Nanterre prosecutor’s office (on the western outskirts of Paris), a transactional fine of about 200,000 euros, proportional to the seriousness of the facts, was proposed to Iberdrola and they accepted it,” he added.
The Spanish company, specialized in the production and distribution of gas and electricity, had a net profit of 4,340 million euros (4,743 million dollars) in 2022, a year marked by the increase in energy prices due to the war from Ukraine.
Source: Gestion
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