Press Release: Free movement of capital: Commission opens infringement proceedings against Spain regarding law amending functions of Spanish electricity and gas regulator

The European Commission decided on 3 May 2006 to formally request Spain to provide information concerning the new legislation that extended the powers of the Comisión Nacional de Energía (CNE), the Spanish electricity and gas regulator. The Commission was concerned that the provisions of this law could unduly restrict the free movement of capital and the right of establishment as enshrined in EU Treaty rules (Article 56 and 43 respectively).