Kroes Threatens To Break Up E.U. Utilities

Law360, New York (January 10, 2007, 12:00 AM EST) -- In response to a report that found “serious competition problems” in Europe's energy industry, European Union Competition Commissioner Neelie Kroes on Wednesday warned that she might break up energy giants that hinder competition in the industry.

The European Commission on Wednesday issued a dismal final report on competition in the gas and electricity markets, declaring that inefficiency, high cost and possible cartels constituted “serious competition problems” in the European energy industry.

The report confirmed that “energy markets are not functioning properly,” Kroes said.

“Its disappointing conclusion...
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