EU Hits E.ON, GDF Suez With €1.1B Price-Fixing Fine

Law360, New York (July 8, 2009, 12:00 AM EDT) -- The European Commission on Wednesday fined German utility E.ON AG and its French natural gas provider counterpart GDF Suez €553 million ($768 million) each for allegedly agreeing not to compete in each other's markets.

The penalty marks the first time the commission has imposed fines for antitrust infringement in the energy sector, and the combined amount of €1.1 billion ($1.53 billion) is the second-highest imposed fine by the commission for a cartel case, the EC said.

The ruling came as no surprise to those who have...
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