Administrative/Corporate Updates 3-2013

1. INTRODUCTION

Law 3/2013, of June 4, 2013 creating the National Markets and Antitrust Commission (the “Law”) was published in the Official State Gazette on June 5, 2013.

The Law will enter into force the day after its publication in the Official State Gazette, that is, June 6, 2013.

The purpose of the Law is to create the National Markets and Antitrust Commission (the “Commission” or the “CNMC”), which will bring together functions relating to the correct functioning of certain markets and regulated sectors, including the energy industry. As a result of the creation of the CNMC, the Law provides for the demise of certain pre-existing regulatory bodies the functions of which will be assumed by the Commission within a maximum of four months from the entry into force of the Law, including, among others, the National Energy Commission (the “CNE”).

For more information on the process of creating the CNMC, and on its organization and functioning, please see Administrative/Corporate Update 1-2013.

2. THE COMMISSION’S SUPERVISION AND CONTROL FUNCTIONS IN THE ELECTRICITY AND NATURAL GAS INDUSTRIES

3. FUNCTIONS OF THE MINISTRY OF INDUSTRY, ENERGY AND TOURISM IN THE AREA OF ENERGY

4. THE TAKING-UP OF STAKES IN THE ENERGY INDUSTRY

5. ENERGY CONSULTATIVE COUNCIL

6. PUNITIVE AND OTHER POWERS OF THE CNMC IN THE AREA OF ENERGY

7. FEES

8. REPEAL OF PROVISIONS ON ENERGY