The EU Commission fines a former ethanol producer €20 million in a cartel settlement (Abengoa)

Antitrust: Commission fines former ethanol producer Abengoa € 20 million in cartel settlement* The Commission has fined the Spanish company Abengoa S.A. and its subsidiary Abengoa Bionenergía S.A. (together ‘Abengoa') € 20 million for participating in a cartel concerning the wholesale price formation mechanism in the European ethanol market. Abengoa admitted its involvement in the cartel and agreed to settle the case. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: "We fine today Abengoa, formerly one of the biggest ethanol producers in the EU, for aiming at influencing ethanol benchmarks in the market. Biofuels can contribute to promote cleaner transport and cut greenhouse gas emissions and for this reason, efficient biofuels markets play a key role.

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

Quotation

European Commission, The EU Commission fines a former ethanol producer €20 million in a cartel settlement (Abengoa), 10 December 2021, e-Competitions December 2021, Art. N° 104135

Visites 254

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues