Gas giants are fined on billion euro
Two large power companies have been fined for the sum exceeding billion euro : the Eurocommission has submitted an invoice to German power company E.ON and French GDF at a rate of 553 million euro each one. Both companies are contesting this decision.
The European competition authorities found out that in 1975 these companies agreed not to compete with each other in the national markets that is an infringement of the antimonopoly law of the European Union.
The competition commissioner of EU Neelie Kroes has explained: “the transaction of giants has struck first of all on consumers, we do not have other alternative than to impose high fines”.
This fine becomes the largest for all history of similar sanctions.
The Eurocommission has begun investigation above the German and French gas companies in 2007. They were accused of agreement about division national gas markets when they jointly built a pipeline to import Russian gas: in particular that E.ON will not sell gas in France, and GDF – in Germany. This is an infringement of the law of EU about fair competition.
