Germany To Drop Gas Price-Fixing Probes

Law360, New York (December 1, 2008, 12:00 AM EST) -- The German cartel office BundesKartellamt has reportedly agreed to drop its probes into 29 utilities' alleged natural gas price-fixing, in exchange for a €127 million ($163 million) reimbursement for customers.

The cartel office said Monday it has agreed to stop proceedings against 29 of 33 natural gas providers accused of inflating natural gas prices, according to Reuters.

Germany's cartel office launched the investigation into the gas companies in March, using the new authority from a law enacted Jan. 1 that gives the BundesKartellamt the power to...
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