Directorate-General for Competition closes antitrust investigation against EPEX SPOT
Paris, 3 September 2024. On 25 July 2024, the Directorate-General for Competition (DG COMP) of the European Commission officially closed the antitrust investigation it had opened on 30 March 2021, without concluding on any infringement of EPEX SPOT. The investigation examined the competitive behaviour of EPEX SPOT on the Intraday markets in Central Western Europe (Austria, Belgium, France, Germany, Luxembourg and the Netherlands).
The Commission opened the investigation into EPEX SPOT’s practices following a complaint lodged in May 2020. The opening of proceedings did not imply that EPEX SPOT had acted in breach of the EU competition rules.
EPEX SPOT has consistently adhered to the EU rules and national legislation in all of the countries where the company conducts business, and has cooperated in good faith with the European Commission during the entire investigation process.
In July 2024, DG COMP formally notified EPEX SPOT of the closure of the investigation.
Looking forward, the adoption of Regulation (EU) 2024/1747 (European Electricity Market Design reform) notably modifies the setup of the Intraday market. EPEX SPOT continues its work to implement these changes. EPEX SPOT welcomes the EMD reform, as it globally confirms the proper functioning of short-term electricity markets. Concurrently, the Exchange once again emphasizes the importance of preserving an economic space for power exchanges to sustainably innovate: innovation is key for the creation of a more resilient and responsive power market, indispensable to enable an efficient energy transition. EPEX SPOT continues to be committed to its innovative approach for the sake of market participants, as per its track-record over the last decade. It is of utmost importance that the competitive setup for power exchanges, such as socialisation, doesn’t lead to innovation with the brakes on, to the detriment of the energy transition.
-ENDS
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe, the United Kingdom, Switzerland, the Nordics and in Poland. Furthermore, EPEX SPOT newly offers local flexibility markets solution and Guarantees of Origin auctions, to foster the integration of renewable energy sources and to enhance the engagement of consumers and producers in the power market. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. Over 400 members trade electricity on EPEX SPOT. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com