EU Fines Power Exchanges €7M Over Antitrust Offenses

Law360, New York (March 5, 2014, 3:22 PM EST) -- The European Union's antitrust watchdog said Wednesday that it has levied fines totaling €7 million ($9.6 million) against three power exchanges for allegedly violating competition rules in an effort to protect their national strongholds as the 28-nation bloc worked to establish a unified energy market.

The European Commission said it fined France's EPEX Spot €3.6 million and Norway's Nord Pool Spot €2.3 million over a market allocation scheme under which they allegedly agreed not to compete against one another for their spot electricity trading services....
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