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Tuesday, January 31, 2023
HomeLatest NewsThe CNMC fines two gas traders for not informing Enagás of their...

The CNMC fines two gas traders for not informing Enagás of their changes

Date: January 31, 2023 Time: 02:44:55

The National Commission for Markets and Competition (CNMC) has fined RWE Supply & Trading GMBH with 3.6 million euros and Total Gas & Power Limited with 1.2 million euros for failing to comply with the stipulated deadlines for notifying Enagás, the technical manager of the system (GTS), “important” modifications in its liquefied natural gas (LNG) supply programs in Spain.

In June 2021, the CNMC detected breaches in the use of flexibility mechanisms for the unloading of LNG at regasification plants located in Spain, which are approved by Circular 8/2019, as reported by the agency this Thursday.

Specifically, the new regulatory framework for access, designed by the CNMC in Circular 8/2019, allows the trader to modify the ship unloading date, the unloading plant and the size of the ship to be unloaded, provided that these changes communicate with a minimum advance of five days.

During the investigation of the files, the CNMC has verified that the two companies had breached their obligation to inform of the modification of their supply and consumption programs at least five days in advance. These modifications correspond to cancellations of unloading of Liquefied Natural Gas (LNG) vessels and represent a serious infraction provided for in article 110 p) of Law 34/1998, of the Hydrocarbons Sector.

In the assessment of the fines, as explained by the CNMC, the economic graduation established in the regulations in force for serious infractions (maximum penalty of 6 million), the degree of non-compliance, the average premiums reached in the auctions of LNG unloading capacity for the period in which they would take place (1.33 million euros per unloading) and the business volume of the sanctioned companies.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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