Spain Antitrust Regulator Opens Probe Against Energy Cos

Posted by SARTRE at 1:13 PM

MADRID (Dow Jones)--Spain's antitrust regulator, the CNC, said Monday it had opened a probe to investigate Spanish electricity companies Iberdrola SA (IBE.MC), Endesa SA (ELE.MC) and Gas Natural SDG SA (GAS.MC) among others, for possibly abusing their dominant market positions.

In a press release, the regulator said the companies changed the sources of electricity in order to charge higher prices and boost revenue.

The CNC also believes that Iberdrola could have altered the wholesale electricity market in the second half of 2006 to provoke an artificial increase in the limitations of the network.

The probe also affects Germany's E.ON AG (EOAN.XE), Hidrocantabrico, Electrabel, Aceca, Elcogas and Nueva Generadora del Sur.

Company Web site: www.iberdrola.com; www.endesa.com

-By Juan Montes, Dow Jones Newswires, +34-91-395-8136, juan.montes@dowjones.com

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