Spain's Endesa in antitrust probe, headquarters searched

The logo of Spanish power company Endesa is seen on a banner inside their headquarters in Madrid·Reuters
Reuters
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MADRID (Reuters) - Spain's antitrust watchdog CNMC has launched an investigation of Endesa and searched its headquarters in recent days, a spokesperson for the electricity utility said on Thursday.

"We are collaborating with the investigation and awaiting further developments," the spokesperson said, without disclosing the object or nature of the CNMC's probe.

Endesa is controlled by Italian power giant Enel.

The spokesperson's comments confirmed a report published by Spanish news website El Confidencial.

CNMC declined to comment.

Following the volatility in energy prices triggered by the fast post-COVID recovery and the war in Ukraine, CNMC has launched several investigations of local firms.

Last year it said it was investigating oil companies and in April it launched an investigation of 35 electricity retailers over potential abuses in the wholesale electricity market.

(Reporting by Inti Landauro and Jesus Aguado; editing by Jason Neely)