Mexico City (Veronica Gascon) – The Federal Commission of Economic Competition (Cofece) applied a fine from 2 thousand 414 million 51 thousand 954 pesos to 53 companies and 34 peoples that they colluded to manipulate the price of LP Gas.
Brenda Hernández, head of Cofece, said in an interview that this is a significant sanction due to the seriousness of the conduct and the damage to consumers, estimated at 13 thousand 392 million 548 thousand 798 pesos.
The regulatory body said that between 2007 and 2019, the companies involved agreed to maintain their market shares and they avoided competing with each otherwhich resulted in a deterioration in supply and the charging of premiums.
“The affected LP gas market is the main source of energy for Mexican families, since eight out of 10 use it as their main fuel and it is important to send the signal that we have to exercise the power we have, it is a significant fine due to the effects and the groups that were involved,” Hernández explained.
The imputed distributors are part of the groups Soni, Nieto, Tomza, Simsa, Global, Uribe and Metropolitan and operate in Mexico City, some municipalities of the State of Mexico, Culiacán, Colima and Tamaulipas.
Cofece decided that the individuals involved should be sanctioned with disqualification from holding managerial positions in the companies.
Economic agents have the right to challenge the resolution by means of an indirect amparo proceeding before the Judicial Power of the Federation.
Hernández assured that it is the second case where the disqualification of managers was determined, since the first occurred in the drug distribution market in 2021.
“It is the second case where the disqualification of directors was determined due to the seriousness of the conduct and participation of directors. The disqualification is to hold management positions that may be similar to those they held during the time they acted in violation of Federal Law of Economic Competition and this has to be analyzed case by case and depending on the elements that are in the file, the period is set,” explained Brenda Hernández.
The first case in which Cofece determined to disqualify company executives was that of collusion in the drug distribution market, which was disclosed in 2021.
Economic agents have the right to challenge this resolution by means of an indirect amparo proceeding before the Judicial Power of the Federation.
#Fine #Federal #Commission #Economic #Competition #gas #companies #thousand #million #pesos