Major European gas suppliers, E.ON Ruhrgas and GDF Suez have said they are planning to challenge the EU executive's fine for cartel-type practices, announced on Wednesday (8 July). The European Commission, the EU's top regulator, slapped a €553 million fine each on Frances's GDF Suez SA and Germany's E.ON Ruhrgas AG for colluding on market share of natural gas in national markets. Neelie Kroes: "The Commission has no alternative but to impose high fines" The penalty refers to a deal struck by the two companies back in 1975 not to sell Russian gas transported by the Megal pipeline to Germany and France in each other's markets, following their joint investment in the pipeline. According to the commission, the energy giants kept the deal in place even after the EU's gas markets were liberalised and only ended their arrangement in 2005.
Major European gas suppliers, E.ON Ruhrgas and GDF Suez have said they are planning to challenge the EU executive's fine for cartel-type practices, announced on Wednesday (8 July).
The European Commission, the EU's top regulator, slapped a €553 million fine each on Frances's GDF Suez SA and Germany's E.ON Ruhrgas AG for colluding on market share of natural gas in national markets.
Neelie Kroes: "The Commission has no alternative but to impose high fines"
The penalty refers to a deal struck by the two companies back in 1975 not to sell Russian gas transported by the Megal pipeline to Germany and France in each other's markets, following their joint investment in the pipeline.
According to the commission, the energy giants kept the deal in place even after the EU's gas markets were liberalised and only ended their arrangement in 2005.
