The Spanish competition authority, the National Commission on Markets and Competition (Comissão Nacional de Mercados e Concorrência or CNMC), has opened inquiries into the April 2025 blackout that paralyzed the Iberian Peninsula. The investigation targets the national grid operator and major energy companies, including Repsol, Naturgy, Iberdrola, and Endesa. Officials identified evidence of non-compliance that may lead to formal sanctions.