national audience It decided to temporarily postpone the payment of the fine of 8.13 million euros imposed by the National Markets and Competition Commission on the electricity company Audax Renovables (CNMC) Given that it has been proven that the company has for years resorted to “acts of deception and confusion” to attract electricity and gas customers who have contracts with its competitors.
Supervisor appointed in 2022 Fine of six marketing companies of the Audax Group for a total of 9.25 million As part of the same case, however, the National Court ruled on only the largest of the sanctions approved so far, affecting the company’s main subsidiaries.
CNMC thinks Audax marketers have proven this They attracted customers by posing as other companies; They announced price updates or renewals and offered so-called discounts that would keep them stuck with their usual company; or they claimed that the marketing company was forced to change due to the disappearance of the company they had a contract with.
The judges of the Court’s Disputed Chamber heard the Audax Group’s request to immediately suspend the implementation of the sanctions imposed by Competition, which include financial fines as well as a ban on contracting with Public Administrations.I expect the court to analyze and decide on the company’s objection later. Energy to overthrow the entire CNMC file.
The court also suspended the ban on Audax Renovables from entering into contracts with the Administration.However, such a veto has not yet come into force because the Public Procurement Advisory Board under the Ministry of Finance has not yet decided on the duration and scope of the CNMC sanction.
Weakness of independent electric companies
Audax defended immediate stay of execution of sentence facing payment would mean “serious harm” to the company’s viability and developed an argument regarding the difficult situation experienced by small electricity companies due to price fluctuations in the energy markets, which caused the closure of many marketing companies.
Audax argued that the weakness of small electricity companies in the midst of the energy crisis was that the majority of contracts with customers provided for supply at a pre-agreed fixed price and that energy on wholesale markets was rising above agreed rates for supply. caused companies to suffer huge losses.
In fact, Audax emphasized in its appeal before the National Court: The disadvantage of independent power companies amid the energy crisis Compared to large groups such as Iberdrola, Endesa, Naturgy, EDP or Repsol, which compensate for losses in marketing work with increased revenue from their own electricity production. However, Audax is also committed to the development of renewable energy facilities for the production of green electricity.
Audax Renovables is controlled by its own company. President Jose EliasThe company owns 75% of its capital. They also have a significant position in the shareholding of the energy company through direct participation and financial instruments. BNP Paribas (with 6.3%), Domínguez de Gor family, mayor owners (with 5.88%) and Goldman Sachs (with 4.99%).