EU: EC tackles firms that threaten single energy market plans

The European Commission announced it has lodged a $9.48 million fine against various power exchanges in the EU for anticompetitive behavior, say reports, as authorities look to establish a single energy market.

Norway’s Nord Pool Spot and France’s EPEX Spot were found to have colluded to not compete with each other for at least seven months between 2011 and 2012, say reports. Nord Pool Spot covers energy trading in Norway, Sweden, Finland, Denmark and Estonia, while EPEX covers Germany, France, Austria and Switzerland.

The traders reportedly received a 10 percent fine reduction for admitting their participation in the collusion.

Romania’s OPCOM was also fined by the Commission for allegedly preventing foreign traders from access to wholesale electricity.

The fines are part of the Commission’s efforts to form a single energy market, say reports, and demonstrate the regulator’s dedication to such a goal.

In a statement, European Commissioner Joaquin Almunia said “when building a single market, it is essential to make sure that anticompetitive behavior of market players does not raise new barriers to trade.”

Full Content: Reuters

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