2023-10-20 22:38:57
Iberdrola Generación, one of the former subsidiaries of the Iberdrola group, and four of its senior officials have faced the first of the seven weeks that their trial for alleged manipulation of the price of electricity is scheduled to last, the first of its kind that it has faced. a company in the sector. To date, a dozen company executives, including defendants and witnesses, have paraded through the courtroom located on the top floor of the building that the National Court has in San Fernando de Henares (Madrid). And, without nuances, they have all defended the same version: the maneuvers attributed to them by the Anti-Corruption Prosecutor’s Office to artificially inflate the price of electricity in 2013 and achieve a multimillion-dollar profit to the detriment of consumers never existed.
“There is no conduct attributable to Iberdrola, which acted consistently in a liberalized market. There has been no manipulation,” said the director of Iberdrola Spain’s legal services from the bench, who intervened on behalf of the electricity company. To support this thesis, those involved took cover behind the “mathematical models” used by the teams in their charge to set offers to the wholesale electricity market and avoided pointing out any specific manager as the one ultimately responsible for giving the definitive ‘yes’. to the offers. Much less the company’s leadership, who was placed outside of “executive” decisions.
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