Spain Starts Trial Into Iberdrola’s Alleged Price Manipulation
Hydrogen storage tanks at an Iberdola green hydrogen plant in Puertollano, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
A Spanish court is set to probe allegations that a unit of Iberdrola SA and and four of its executives manipulated electricity prices a decade ago.
Prosecutors are seeking a €85 million ($89.6 million) in fines from Iberdrola Generacion SA and two years of jail time for the executives from the Madrid court. A private complaint from consumer rights group Facua seeks three years in prison and a penalty of €107.5 million.