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.

Romania's S.C. OPCOM S.A. and its parent, Transelectrica, were slapped with a penalty of just over...

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