EU Antitrust Body Raids Electric Grid Parts Makers

Law360, New York (February 3, 2010, 1:01 PM EST) -- The antitrust arm of the European Union has raided the offices of a number of manufacturers of electrical transmission grid components known as flexible alternating current transmission systems, seeking evidence of potential cartel activity or other restrictive business practices.

The European Commission carried out targeted inspections at the premises of FACTS producers on Jan. 20, the commission said Wednesday. FACTS are used to increase the power transfer capability of electricity transmission networks.

One FACTS producer, the Swiss engineering firm ABB Ltd., confirmed that the EC had...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.