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Spanish regulator fines Enet Energy €1m for gas market manipulation attempt

Installation of Natural Gas Gas pipeline of Natural Gas in the roof of the Physics Faculty. Complutense University of Madrid.
Photo: Quim Llenas/Cover/Getty Images

CNMC reminds us that even an attempt to manipulate is a breach of REMIT. We compare the case with recent fines and look at ACER guidance on market manipulation.

The Spanish energy regulatory authority, Comisión Nacional de los Mercados y la Competencia (CNMC), has levied a €1m ($1.15m) fine on Enet Energy S.A. for attempting to manipulate the national organized gas market, MIBGAS. 

The CNMC’s decision follows an investigation into the company’s trading practices across eight