<p>The utility, which is hoping to acquire ScottishPower, is said to have abused its dominant position and created technical power shortages by manipulating the market. According to Bloomberg, however, Jose Luis Gonzalez Besada, Iberdrola's spokesman, has said that the company will appeal the competition tribunal's penalty.<br /><br />The publication cited the spokesman as maintaining that the utility's generating division did not break any antitrust market regulations. Nevertheless, the company's stock has dropped by 0.6% following the news. <br /><br />Meanwhile, Iberdrola's Greek wind energy arm Rokas is reported to have revealed a 77.9% increase in net profit in 2006 over 2005. According to AFX, the unit attributed the resulting E16 million net profits to lower expenses and one-off tax gains. <br /><br />The news agency reported that, despite this, Rokas' consolidated turnover was down 6.2% in the same period, as a result of the poor performance of its electromechanical equipment business. Nevertheless, Rokas' energy business seems to have up for this, contributing 79% of the unit's total revenue, as compared to 68% in 2005.</p>
