Welcome to this edition of Field Fisher Waterhouse's Energy
Update. The last couple of weeks in the sector has seen the
European Commission spring surprise inspections on several
companies in the sector, reform of the UK competition regime and an
Ofgem consultation on the proposed scope and review of a review of
interest during construction (IDC) for the offshore transmission
and interconnector regulatory regime. In addition a report has been
issued by the UK government's Climate Change Committee on the
future electricity market.
EC energy price-fixing probe
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
