Italy's antitrust agency (AGCM) has fined six energy providers including Eni's Plenitude and Enel a total of more than 15.6 million euros ($16.3 million) for raising their charges during a ban on unilateral price hikes.
ROME, Nov 15 (Reuters) - Italy’s antitrust agency (AGCM) has fined six energy providers including Eni’s (ENI.MI) Plenitude and Enel (ENEI.MI) a total of more than 15.6 million euros ($16.3 million) for raising their charges during a ban on unilateral price hikes.
The billing took place between August 2022 and June 2023, when the government banned unilateral price increases for gas and electricity supplies, AGCM said in a statement on Wednesday.
Enel said it had acted in full compliance “by limiting itself to merely renewing the expiring economic conditions, without proceeding to any unilateral variation of the contract”.
Iberdrola’s (IBE.MC) Italian unit was fined 25,000 euros for threatening to cut off customers unless they accepted a new contract under “worse economic conditions”, AGCM said.
In a statement, Iberdrola reiterated its “compliance with current regulations” and said it might take further action after analysing the antitrust decision.
Edison (EDNn.MI) was fined the minimum amount of 5,000 euros because, while it raised prices when it was not supposed to, it later reimbursed customers and its conduct affected a “marginal” number of people, the regulator said.
The original article contains 311 words, the summary contains 183 words. Saved 41%. I’m a bot and I’m open source!
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ROME, Nov 15 (Reuters) - Italy’s antitrust agency (AGCM) has fined six energy providers including Eni’s (ENI.MI) Plenitude and Enel (ENEI.MI) a total of more than 15.6 million euros ($16.3 million) for raising their charges during a ban on unilateral price hikes.
The billing took place between August 2022 and June 2023, when the government banned unilateral price increases for gas and electricity supplies, AGCM said in a statement on Wednesday.
Enel said it had acted in full compliance “by limiting itself to merely renewing the expiring economic conditions, without proceeding to any unilateral variation of the contract”.
Iberdrola’s (IBE.MC) Italian unit was fined 25,000 euros for threatening to cut off customers unless they accepted a new contract under “worse economic conditions”, AGCM said.
In a statement, Iberdrola reiterated its “compliance with current regulations” and said it might take further action after analysing the antitrust decision.
Edison (EDNn.MI) was fined the minimum amount of 5,000 euros because, while it raised prices when it was not supposed to, it later reimbursed customers and its conduct affected a “marginal” number of people, the regulator said.
The original article contains 311 words, the summary contains 183 words. Saved 41%. I’m a bot and I’m open source!