Watchdog will not investigate Iberdrola’s merger with Scottish Power

Dec 22, 2006 01:00 AM

Spain's energy sector watchdog CNE has decided not to investigate Iberdrola's planned merger with Scottish Power, a CNE spokesperson said.
The 9-member committee met and unanimously voted against taking up the option in article 14 of its regulations which allows the CNE to probe operations which could affect regulated activities in Spain.

Endesa had asked the regulator to investigate the Iberdrola-Scottish Power deal, stating that the operation could “put at risk or have a negative effect” on regulated businesses and “could affect the security and the quality of (energy) provision”.
Endesa has also requested it be granted access to information on the merger because it jointly runs several nuclear power plants with Iberdrola, considered “strategic” assets by the CNE.

Source / AFX
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