Italy’s competition watchdog is investigating seven energy groups, including Enel, Eni and France’s Engie, for allegedly illegally ramping up electricity and gas prices, it said Tuesday.
The suppliers, which account for around 80 percent of the market and include Hera, A2A, Edison and Acea, stand accused of making “unilateral illegal changes” to prices, the watchdog said.
More than 2.6 million consumers have “already suffered an unjustified price increase”, the authority said in a statement, based on data provided by the companies.
Related: Italian Watchdog Blocks ERG’s Sale Of Gas Plant To Enel
The Italian government plans to spend more than 21 billion euros ($22 billion) on measures next year to ease the pressure of soaring utilities prices on households and businesses.
The authority accuses the companies involved of having modified electricity and gas tariffs without taking into account a decree issued on August 9 on measures to mitigate price hikes.
The companies must change the prices back to those in place before August 10, it said.
Marco Vignola, energy chief at the National Consumers’ Union, hailed the “excellent news”.
The investigation into the seven groups comes on top of a similar probe into energy suppliers Iren, Dolomiti Energia, E.ON and Iberdrola, the authority said.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI