The battle between the PSOE and Sumar continues once the Council of Ministers has ended. Despite having reached an agreement to unblock the response plan to the war in Iran, both formations convey different versions of the agreement reached.
In addition to the extension of rental contracts, those of Yolanda Díaz demanded effective measures in the control of business margins, particularly at gas stations, with prices skyrocketing since the first stages of the conflict.
And, once the Council concluded, they reached an agreement that would involve adopting limits on the margins of oil operators. From the Ministry of Economy, they reject such a conclusion and clarify: there will be control by the supervisor, who will issue a recommendation on the matter.
The President of the Government, Pedro Sánchez, explained to the media that the anti-crisis decree-law would strengthen the supervisory and sanctioning capacity of the National Commission for Markets and Competition (CNMC). And he anticipated punishments “with severity” for those “who, out of pure greed” tried “to profit from this war.”
What does the new decree-law foresee?
The new regulation foresees greater information requirements so that the CNMC can control business margins in this sector and the commissioning by the Government of an evaluation of them, with recommendations to, if necessary, intervene prices.
According to the content of the decree-law to which Demócrata has had access, the supervisor will have to issue recommendations based on the evolution of these margins, exceptionally to article 38 of Law 34/1998 of the hydrocarbons sector.
This article establishes that the prices of petroleum products are free, so their exception opens the door to intervention. The Government reserves the right to act accordingly, as it foresees that, based on the recommendations made by the CNMC, "it may adopt the appropriate measures for the fulfillment of said objective".
How that control is carried out
The supervisor may request any information from the operators regarding price formation, sales volumes, costs or any other data that allows market analysis.
The control of margins is foreseen for the whole of the value chain but, particularly, the marketing and distribution of fuel.
The operators, according to the regulations to which Demócrata has had access, must report weekly to the CNMC information about their purchase and sale prices of petroleum products, both in service stations integrated into their distribution network and to other stations.
This information will also be transferred by the supervisor to the ministries of Economy, Finance, Ecological Transition and Social Rights.
Sanctions of up to 6 million
If the operator fails to comply with an information requirement, they would face a fine of up to six million euros or, at most, 5% of their annual turnover, as it is classified as a serious infringement.
The CNMC will publish a study on how the commercialization and distribution of fuels works, with special attention to prices and the degree of effective competition, as well as to the behavior of margins.
The study, which must be published before May 31, must assess the need to adopt reforms in this regard.