SEC Imposes $19 Billion Fine on Enel for Prolonged Power Outages in August 2024 Following Usach Audit

The Chilean Securities and Exchange Commission (SEC) has imposed a historic fine of $19 billion on Enel, following prolonged power outages in August 2024. This decision comes after an audit conducted by the Universidad de Santiago de Chile (Usach), which may lead to further charges against the energy company. The government has emphasized that this fine reflects the effective functioning of regulatory institutions in the country. The settlement follows a long-running dispute with the Federal Energy Regulatory Commission (FERC), particularly after the Jarkesy decision, which has implications for FERC’s enforcement authority.