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Israel: Domestic power co victim of global collusion, says antitrust head

By  |  September 18, 2013

The head of Israel’s antitrust regulator, David Gilo, said Tuesday that the state-owned Israel Electric Corporation is a victim of a global electricity cartel involving Japanese and EU firms.

Reports say the cartel, which existed between 1988 and 2004, colluded to divide the global power market among eight major players, none of which were Israeli. The cartel was found to have fixed prices of gas-insulated switchgears, used by IEC.

Gilo says during the time of the cartel the Israeli firm put out tender for such equipment, paying the inflated prices.

While no charges have been filed, reports say the antitrust ruling regarding the cartel can be used as a basis for a lawsuit seeking damages caused by the collusion.

Full Content: Haaretz

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