Eni's (E) retail and renewables unit Plenitude has been cleared by Italy's competition authority AGCM regarding alleged unfair commercial practices, Reuters reported Monday, citing a weekly bulletin published by the regulator.

The regulator launched a probe in March investigating Plenitude's contract renewal processes, as in 2024 clients had complained that the renewal of their electricity and gas supply contracts was inconsistently executed, according to the report.

Eni had committed to improving its communication efforts regarding contract renewal, and offer partial compensation to customers who lost out due to changed terms and conditions, Reuters cited the bulletin as saying.

Around 90,000 to 110,000 customers should be eligible for compensation, at an estimated cost for Eni of 2 million to 6 million euros ($2.35 million to $7.05 million), the regulator said, according to the report.

Eni did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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