On 10 December 2021, the Commission fined the Spanish company Abengoa S.A. and its subsidiary Abengoa Bionenergía S.A. (together ‘Abengoa’) €20 million for participating in a cartel concerning the wholesale price formation mechanism in the European ethanol market.^[1] Abengoa admitted its involvement in the cartel and agreed to settle the case. Abengoa was formerly one of the biggest ethanol producers in the EU.

[1] Press release European Commission 10 December 2021 ‘Antitrust: Commission fines former ethanol producer Abengoa €20 million in cartel settlement.’