Press Release: Antitrust: Commission fines two power exchanges € 5.9 million in cartel settlement

On the 5 March 2014, the European Commission imposed fines totalling € 5 979 000 on the two leading European spot power exchanges, EPEX Spot ("EPEX") and Nord Pool Spot (NPS) for having agreed not to compete with one another for their spot electricity trading services in the European Economic Area (EEA).

Such behaviour breaches EU antitrust rules that prohibit cartels and restrictive practices. Power exchanges are organised markets for trading electricity. Spot trading means trading in the short run, such as within the same day or for the next day. NPS and EPEX received a fine reduction of 10% each for agreeing to settle the case with the Commission.

ESO: Background information: Market building through antitrust. Long-term contract regulation in EU electricity markets http://www.europeansources.info/record/market-building-through-antitrust-long-term-contract-regulation-in-eu-electricity-markets/

European Commission: RAPID: STATEMENT/14/48: Statement by Vice-President Joaquín Almunia on antitrust decisions on power exchanges http://europa.eu/rapid/press-release_STATEMENT-14-48_en.pdf

ESO: Background information: Antitrust: Commission confirms unannounced inspections in the electricity sector http://www.europeansources.info/record/memo-antitrust-commission-confirms-unannounced-inspections-in-the-electricity-sector/

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