Spain's competition watchdog, the Comisión Nacional de los Mercados y la Competencia (CNMC), has escalated its probe into the massive blackout that struck the country on 28 April 2025, opening a total of 63 separate proceedings against energy companies. Among those targeted is Portugal's EDP (Energias de Portugal), which has forcefully pushed back against any suggestion of responsibility.
The CNMC announced on 23 April that it had launched eight 'serious investigations' into companies including Naturgy, EDP, and Iberdrola, alongside 35 additional proceedings. This brings the total number of cases that could lead to sanctions to 63. The regulator also named Endesa, Repsol, TotalEnergies, Engie, ContourGlobal, and the nuclear association Ascó-Vandellós as subjects of investigation, as well as Red Eléctrica, the system operator responsible for high-voltage transmission and technical management.
EDP confirmed it had been notified by the CNMC of proceedings related to its Soto de Ribera thermal power plant in Asturias. However, a company source told Lusa that EDP 'denies any link to the incident on 28 April', stressing that 'this plant was not even scheduled to be operating at the time of the blackout'. The company described Soto de Ribera as 'a backup facility for the electricity system'.
Regulator's Cautious Language
The CNMC itself has been careful not to assign blame for the blackout's origin. In a statement, it said the investigations had identified 'various indications of non-compliance, some of which went on for long periods and may have affected the operation of the electricity system and constitute administrative offences'. Yet it added that the events under investigation 'do not in themselves imply that responsibility for the origin or cause of the blackout can be attributed to the companies involved', noting that the blackout's cause is 'multifactorial'.
The blackout, which affected millions of Spaniards and disrupted transport, communications, and business across the country, has triggered a political and regulatory backlash. The Spanish government has been under pressure to identify those responsible and prevent a recurrence. The CNMC's sweeping investigation reflects the complexity of the Iberian electricity market, where cross-border flows and a mix of generation sources—including thermal, nuclear, and renewables—create interdependencies.
Portugal's EDP, a major player in both countries, finds itself in a delicate position. The company has significant operations in Spain, including renewable energy assets and thermal plants. Its denial of responsibility for the Soto de Ribera plant is likely to be tested as the CNMC's proceedings unfold. The case also highlights the broader challenges of energy security in Europe, where aging backup plants and grid vulnerabilities have become a concern. For context, Belgium recently moved to nationalize nuclear reactors from Engie in a bid to bolster energy sovereignty, a sign of how governments are rethinking energy infrastructure.
The CNMC's investigation is separate from any criminal or technical inquiry into the blackout's root cause. Spain's grid operator, Red Eléctrica, is also under scrutiny, raising questions about whether the blackout was triggered by a failure in transmission or generation. The regulator's mention of 'long periods' of non-compliance suggests that some companies may have neglected maintenance or operational obligations, potentially exacerbating the system's fragility.
For now, the blame game continues. EDP's pushback is likely to be echoed by other firms, who will argue that the blackout was an unforeseeable event. But with 63 cases on the table, the CNMC is signaling that it will not let the matter rest. The outcome could reshape Spain's energy landscape, with implications for investment, regulation, and cross-border cooperation with Portugal.
