The Netherlands Authority for Consumers and Markets (ACM) has imposed a fine of 150,000 euros on PZEM Energy B.V., a Dutch energy producer, supplier, and trader, because it had failed to comply with the obligation to publish inside information.
PZEM is the owner of several power plants, and thus knew, for example, when these plants had to be shut down. This information may affect prices that are formed on the wholesale energy market. ACM’s investigation revealed that PZEM had violated the rules regarding publication of inside information in a timely and correct manner. PZEM thus had an edge over other market participants in terms of knowledge. PZEM has stated that it has since implemented changes to its organization in order to improve compliance.
Manon Leijten, Member of the Board of ACM, explains: “To ensure that the European energy market functions well, it is important that all companies have all of the relevant information at the same time. Knowledge about interrupting or adding production capacity is important information, which may affect prices formed on the energy wholesale market. That’s why market participants are required to publish this type of information quickly and correctly. As ACM’s investigation has revealed that PZEM did not always do so properly, ACM has decided to impose a fine of 150,000 euros on PZEM.”
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