The Paris-based power exchange EPEX SPOT on Tuesday, March 30, found itself the target of an EU antitrust investigation as enforcers voiced concerns that it may be blocking rivals in the intraday power markets in France, Germany, and four other EU countries.
The European Commission stated EPEX SPOT may be abusing its market power in breach of EU competition rules and that such practices, if proven, could push up consumer prices and hinder the cost-effective integration of renewable energy into the electricity mix.
It stated the investigation would focus on business practices aimed at foreclosing EPEX SPOT’s competitors by curtailing the ability of their customers to access the entire liquidity of the intraday market.
“Preserving healthy competition between power exchanges and between traders contributes to accurate price and investment signals for new sources of energy, which are central for the cost-effective integration of renewable technologies in the electricity mix,” European Competition Commissioner Margrethe Vestager said in a statement.
The Commission stated other affected countries were Austria, Belgium, Luxembourg, and the Netherlands.
EPEX SPOT stated it was fully committed to cooperating with the authorities in good faith and to continuing a constructive dialogue with the Commission.
Companies can be fined as much as 10% of their annual turnover if found guilty of breaching EU antitrust rules.
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