Profitable robberies. Vignette of 30/07/2023 in CTXT
The Comisión Nacional de los Mercados y la Competencia (CNMC) has imposed a fine of 6 million euros on Naturgy's subsidiary, Naturgy Generación, which must also pay compensation of 35.5 million euros for manipulating the price of electricity.
This, for the company, is peanuts. In 2021, it earned 1,214 million euros and in 2022 it pocketed 1,649 million.
Naturgy closed the first half of 2023 with an EBITDA of 2,849 million euros, 39% more than the previous year
You know, for theft to be profitable, always make sure you steal a lot more money than you will be asked for having done it.
Press release. The CNMC sanctions Naturgy Generación S.L.U. with 6 million for manipulating the price in the electricity market of technical restrictions.
Resolution of the sanctioning procedure initiated against Naturgy generación, S.L. for making bids at excessive prices in the technical restrictions market to manipulate the price of adjustment services (PDF).
