National Grid Competition Fine Cut Down To $44.2M

Law360, New York (April 29, 2009, 12:00 AM EDT) -- The U.K.'s Competition Appeal Tribunal has lowered a fine on British energy company National Grid PLC for allegedly abusing its dominant position in the home natural gas meter market from £41.6 ($61.4 million) to £30 million ($44.2 million).

The CAT ruled Wednesday that the U.K. Office of Gas and Electricity Markets, or Ofgem, was right when it ruled last year that National Grid abused its dominant market position by negotiating long-term contracts with major gas suppliers that discouraged suppliers from replacing old domestic-size gas meters with...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.