Italy Ups Energy Fine Limit To 10% Of Revenues

Law360, New York (October 14, 2008, 12:00 AM EDT) -- The Italian energy regulator unveiled new rules Tuesday that significantly hike the fines it will be able to impose by raising the penalty limit to 10 percent of a company's revenue — a percentage that could amount billions of euros in some cases.

The Regulatory Authority for Electricity and Gas, known as AEEG, said the new proportional fine scheme is designed to effectively dissuade companies from any wrongdoing. Until now, the regulator has been allowed to levy fines ranging between €25,000 ($34,200) and €150 million ($205.2...
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