The CNMC authorizes in the first phase the purchase by Repsol of 50% of CHC Energía

2023-07-14 14:03:21

The National Commission for Markets and Competition (CNMC) has authorized the purchase by Repsol of 50.01% of CHC Energía in the first phase. The organization chaired by Cani Fernández thus gives its approval, perceiving that there are no problems for competition in an operation that will allow Repsol to reach two million electricity and gas customers in the Iberian Peninsula, thus achieving the objective set in its plan strategic 2021-2025 and consolidating itself as the fourth market operator in Spain in number of electricity customers.

Last May, the general meeting of shareholders of CIDE Servicios Comerciales, owner of 100% of CHC Energía, already approved the acquisition, by Repsol, of 50.01% of the electricity supplier. With this acquisition, the multi-energy company acquires one of the main electricity and gas distributors in Spain, with a broad position in rural areas and small municipalities. In addition, the management of the retailer will be shared and the team led by Mariola Martínez Herrera, as general director of CHC Energía, will remain. In this sense, there will be a distribution in the board of directors in equal parts and the independence of the operating systems and the ‘back office’ is ensured.

Since the acquisition of Viesgo’s assets in 2018 and its entry into the electricity business, the oil company led by Josu Jon Imaz has been increasing its client portfolio in this market, both through its commercial strategy and purchases in the sector. Thus, in 2021 it acquired the majority of the electricity and gas trading company Gana Energía, owned by Angels -Juan Roig’s investment company-, or in 2022 it acquired Capital Energy’s portfolio of 25,000 residential electricity customers and SMEs. In addition, also last year, it reached an agreement with Grupo Dominio to acquire and supply the nearly 100,000 energy customers of Alterna, which was the electricity supplier of the Basque firm.