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China: Taiwan indie power cos fight back against record fine

By  |  March 14, 2013

Two Taiwan-based power companies recently served a record $213 million fine will be appealing their share of the punishment as they separately filed statements denying any wrongdoing. The independent companies, Mai-Liao Power Corp. and Ho Ping Power Co., were sued by the Fair Trade Commission for colluding to fix prices beginning in 2007. Specifically, the companies were charged with conspiring to jointly refuse negotiating with Taiwan Power, the state-owned electric utility. Independent power producers are allowed to produce up to 20 percent of the provided electricity. The Ministry of Economic Affairs said in a statement Wednesday that the commission properly punished the companies for “coordinated action against market and economic order.”

 

Full Content: Bloomberg

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