UPDATE 1-Spain's Iberdrola granted suspension of $466 mln fine in Mexico

Reuters
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MEXICO CITY, July 4 (Reuters) - A subsidiary of Spanish energy company Iberdrola has had a 9.15 billion peso regulatory fine suspended by a Mexican judge, a court document showed Monday.

The country's energy sector regulator, CRE, imposed the fine, which totaled around $466 million at the end of May, on Iberdrola Energia Monterrey for violating a so-called self-supply power generation permit, after allegedly selling energy to its partners.

"The requested (stay) is granted so that the collection of the fine will not be executed," the document said.

Neither the CRE nor Iberdrola immediately responded to a Reuters request for comment.

The CRE in May said the Iberdrola subsidiary had supplied energy to its partners in exchange for economic compensation, constituting a sale that is forbidden under the company's self-supply permit. (Reporting by Adriana Barrera; Writing by Kylie Madry; Editing by Lisa Shumaker and Barbara Lewis)