Taiwanese authorities who issued a record-setting fine of about $200 million against several energy companies for anticompetitive conduct were dealt a blow this week when the Taipei High Administrative Court struck down the sanctions in favor of the electric firms.
Nine independent power companies were hit with a record fine of about $200 million by the FTC after regulators found they formed a cartel to collectively refuse a renegotiation of power purchase agreements with state-run Taiwan Power Company.
According to reports, the Taipai High Administrative Court sided with the companies on their appeal on grounds that the companies formed their contracts with Taipower by a joint party, meaning the contracts were not subject to free market supply-and-demand factors. Further, the court found, the FTC was incorrect to determine that the nine companies collectively held 19 percent of the Taiwan energy market.
According to reports, the nine companies and competition authorities have quarreled for several years, beginning in 2006 with disputes over natural gas price hikes.
Reports did not indicate whether the appeals court reversed the FTC’s fines, though the regulator vowed to appeal the ruling.
Full content: China Post
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
YouTube CEO Argues Google’s Innovation, Not Monopoly, Drove Ad Tech Success
Sep 16, 2024 by
CPI
Samsung, Xiaomi Among Smartphone Brands Allegedly Involved in eCommerce Collusion In India
Sep 16, 2024 by
CPI
Appeals Court Sides with Exxon, Chevron in Price-Fixing Lawsuit
Sep 16, 2024 by
CPI
Nvidia Faces Antitrust Lawsuit in Strategic Filing Move by Xockets Inc.
Sep 16, 2024 by
CPI
UK Competition Regulator to Reform Pay System Amid Bias Allegations
Sep 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández