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Colombia: Competition authority shares concerns over energy market

 |  December 8, 2015

Colombia’s competition watchdog, SIC, has announced its concerns over a recent rise in energy prices across the country, with reason to suspect the presence of a cartel or other violations of competition law within the sector.

Several companies have inflated the price of energy in their stock trading, thereby affecting prices paid by consumers. The investigation into the sector was prompted by an unusual increase in the price of each Kilowatt/Hour, which has now increased to over $0.60 US. This figure is alarming, considering that the bottom ranges for the same measure usually stands at under $0.10 US.

“The Superintendence will try to determine whether a presumed illegal arrangement has harmed competition in the sector” said the agency, while urging several companies to review their behaviour towards energy prices.

Source: Pulzo

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