Abstract
Contends that the Spanish Competition Commission is correct to be cautious with respect to the attempted acquisition of giant electricity producer Endesa by Gas Natural. The creation of national giants in gas and electricity is discussed from the perspective of the European energy market, arguing that such a transaction could slow down the building of internal energy markets. Remedies are proposed, asserting that the high risk of errors in the electricity sector requires consumer protection via overestimating anticompetitive effects.