Bulgaria’s competition regulator announced on June 16 that it found three local subsidiaries of energy group CEZ guilty of unfair trade practices and issued fines worth a combined 4.4 million leva, or about €2.25 million.
The Commission for Protection of Competition (CPC) stated that CEZ, which serves customers in western Bulgaria, including capital city Sofia, took advantage of its stronger bargaining position in contract negotiations with payment operator Fast Pay.
Fast Pay, one of a number of intermediaries used by CEZ for its consumers to pay their electricity bills, claimed that CEZ cancelled an existing contract without any grounds, imposing unjustifiably tough contractual terms during the subsequent re-negotiation.
The CPC stated the actions of CEZ subsidiaries endangered Fast Pay’s economic viability, but also risked damaging consumers, who would receive poorer service.
Full Content: Sofia Globe
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
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