Lima, January 19, 2026 — Peru’s Indecopi has fined electricity distributor Luz del Sur S.A.A. PEN 5.5 million (approximately $1.63 million) for breaching its duty to provide complete and accurate information during the review of a notified transaction under the country’s pre-merger control regime.
In a first-instance administrative decision, Indecopi’s Commission for the Defense of Free Competition found Luz del Sur liable for an infringement under Article 27(3)(d) of Law No. 31112, which requires parties to supply the authority with complete, correct, and truthful information. The breach is classified as very serious under the law.
Merger Review Background
The case stems from a 2023 notification submitted by Luz del Sur concerning a concentration involving the acquisition of solar energy generation plants. During the assessment, Indecopi’s National Directorate for Investigation and Promotion of Free Competition requested the company’s investment plans or projects — including those of its broader corporate group — in Peru’s energy sector for the following five years.
Luz del Sur informed the authority that it had no such plans.
Incomplete Information Finding
Indecopi later determined that the information provided was not complete or correct, identifying documents indicating that Luz del Sur did, in fact, have investment plans in the electricity sector that were not disclosed during the evaluation process.
The Commission said the sanction is intended to encourage parties to act diligently and in good faith, noting that merger control proceedings operate under tight statutory timelines. It also stressed that transparency is necessary to allow the authority to properly assess potential market risks arising from the transaction and to safeguard compliance with Peru’s competition rules.
Next Steps
The decision does not exhaust administrative remedies. Luz del Sur may appeal within 15 business days to Indecopi’s Specialized Chamber for the Defense of Competition.
