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The European Commission yesterday slapped fines totalling €7 million (£5.8 million) on three electricity trading platforms for anti-competitive behaviour.
The France-based Epex Spot was fined €3.7 million (£3.0 million) and Norway’s Nord Pool Spot €2.3 million (£1.9 million) for agreeing not to compete with each other on spot electricity trading services. That agreement, lasting at least seven months in 2011/12, breached rules on cartels.
Meanwhile, Romanian power exchange Opcom was found to have discriminated against EU-based traders outside Romania for over five years. It received a fine of €1.0 million (£0.8 million).
Joaquín Almunia, Commission vice president in charge of competition policy, said: “Power exchanges are central to an efficient functioning of electricity markets. In times when most European consumers are concerned by their rising electricity bills, I am particularly satisfied that we have brought to an end the market sharing agreement between Epex and Nord Pool Spot.”
On the Romanian case, Alumnia added: “Opcom’s abusive behaviour prevented EU traders from joining the Romanian power exchange’s spot markets, creating an artificial barrier to entry in breach of EU competition rules. National barriers of this type do not only hamper the completion of a Single Market in energy, but also stand in the way of the development of efficient, liquid markets.”
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