Antitrust: Commission fines producers of high voltage power cables € 302 million for operating a cartel

EU News 144/2014

Brussels, 2 April 2014
IP/14/358

The European Commission has found that 11 producers of underground and submarine high voltage power cables operated a cartel, and has imposed fines totalling €301 639 000. Such cables are typically used to connect generation capacity to the electricity grid or to interconnect power grids in different countries. From 1999 onwards and for almost ten years, these companies shared markets and allocated customers between themselves on an almost worldwide scale. Part of this plan was to allocate important high voltage power cable projects in the European Economic Area (EEA), including large infrastructure and renewable energy projects such as offshore wind farms. Most of the world´s largest high voltage power cable producers, namely ABB, Nexans, Prysmian (previously Pirelli), J-Power Systems (previously Sumitomo Electric and Hitachi Metals), VISCAS (previously Furukawa Electric and Fujikura), EXSYM (previously SWCC Showa and Mitsubishi Cable), Brugg, NKT, Silec (previously Safran), LS Cable and Taihan, participated in the illegal agreements. ABB received full immunity from fines under the Commission's 2006 Leniency Notice as it was the first to reveal the cartel to the Commission.

Source and additional information:
http://europa.eu/rapid/press-release_IP-14-358_en.htm?locale=en

Joaquín Almunia Date: 02/04/2014 Reference: P-025434/00-10 Location: Brussels - EC/Berlaymont (C)EU, 2014 URL

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