A PYMNTS Company

BWB ordered to cut water prices for years of overcharging customers

By  |  June 5, 2012

The Bundeskartellamt has ordered Berliner Wasserbetriebe (BWB) to reduce drinking water prices because the utility had overcharged customers. Berlin has a 50.1 percent stake in BWB; RWE and Veolia Environment own 24.95 percent each.

The German competition watchdog is requiring BWB to slash rates by 18 percent in 2012. The cut will abate slightly to 17 percent for 2013 to 2015. However, the Bundeskartellamt also has the option to order retroactive price cuts for 2009-2011.

Full content: Fox Business

 

Related content: Germany: The Role of Criminal and Administrative Sanctions in German Competition Law Enforcement

 

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.