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ARTICLE · 10 JUNE 2013

EC Energy Price-Fixing Probe

Fieldfisher
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The European Commission has begun an investigation into the possible manipulation of energy price benchmarks.

GlobalAntitrust/Competition Law
Publications Field Fisher Waterhouse
Publications Field Fisher Waterhouse

The European Commission has begun an investigation into the possible manipulation of energy price benchmarks. Several companies in the energy sector had surprise inspections carried out by the European Commission for alleged infringement of European antitrust law, namely the manipulation of the reference price for oil and bio fuel products. This investigation will most likely have very significant implications for the whole oil industry and its customers as well as the any banks, trading houses, utilities or major users who buy oil products or trade oil based commodities. The effects of the investigation will not be limited to Europe.

Decisions taken in the early stages of a cartel investigation or immediately upon discovering evidence of wrongdoing can have very significant consequences.  The cost of non-compliance including financial penalties, litigation, reputational damage, and unenforceable agreements can be so great that identifying and assessing competition

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