Energy infrastructure companies in the UK have reportedly accumulated nearly £4bn in excess profits over the last four years, according to analysis by Citizens Advice. The consumer charity has assisted nearly 700,000 individuals struggling with utility bills, with over five million households in debt to their suppliers due to increased energy costs following the Ukraine-Russia conflict. Energy network companies, which are monopolies regulated by Ofgem, have allegedly profited from high inflation and the cost-of-living crisis by setting network charges that make up around 25% of a typical fuel bill, covering the costs of maintaining and operating crucial infrastructure.
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Spain’s antitrust watchdog approves BBVA’s €11bn hostile bid for Sabadell
Spain’s competition watchdog, the CNMC, has approved BBVA’s €11bn hostile bid for Sabadell, allowing the government to have the final say on the merger. The CNMC authorized the acquisition with conditions, including maintaining certain branches to mitigate competition concerns, while BBVA aims to enhance its lending capacity and market presence. However, Sabadell's board and the government oppose the deal, citing risks to competition and financial stability, and the government has 15 days to decide on...
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