Spain's competition regulator probes possible abuse of dominance in energy markets

The inspection

Spain's National Markets and Competition Commission (CNMC) is investigating possible anticompetitive practices in the country's energy markets. In a statement, the regulator described the suspected conduct as a possible discriminatory market foreclosure that limits the ability of third-party operators to act. Between 26 and 29 October 2026, it inspected the headquarters of a business group active in Spain's energy sector. The company has not been named, and the regulator has given no further details on the specific activity involved. The inspection took place under a reserved information file opened after a preliminary investigation by the Competition Directorate.

What is being examined

The CNMC is assessing whether the conduct amounts to an abuse of dominant position. If confirmed, the practices would breach article 2 of the Competition Law (LDC) and article 102 of the Treaty on the Functioning of the European Union (TFEU). The authority stressed that the inspection is only a preliminary step in the process.

“The inspections do not prejudge the outcome of the investigation or the guilt of the entity.”

If the inspection reveals signs of prohibited practices, the CNMC will open a formal sanctioning file. It classes abuse of dominant position as a 'very serious' infringement of competition law, punishable by fines of up to 10% of the total turnover of the offending companies in the financial year before the fine is imposed.

Earlier probes this year

La Vanguardia reports that the announcement is the third investigation the CNMC has opened this year into energy companies. In May, the regulator opened an ex officio probe into possible anticompetitive practices in energy markets, linked to excessive prices and denial of access to energy infrastructure. ABC reports that the May inquiry was only identified in October as concerning Exolum, a company active in the logistics of transporting and storing hydrocarbons. Around the anniversary of the 2025 blackout, the CNMC also opened several sanctioning files against companies in the sector.

Separately, at the government's request, the CNMC is monitoring prices at petrol stations after a sharp rise in fuel prices that followed the war in Iran. El País also reports that the regulator has scrutinised the six largest Spanish banks over their mortgage lending.

Leadership and open questions

The CNMC is chaired by Juan José Ganuza, according to ABC and El País. The identity of the inspected company and the sector-specific activity under review remain undisclosed. Its statement offers no timetable for a decision on whether a formal file will follow.