Nord Pool Spot AS said in a statement that EFTA Surveillance Authority ESA and the European Commission made an unannounced inspection on Nord Spool Spot premises. As was confirmed later in European Commission statement, this was a part of a wide coordinated action on European power exchanges to investigate possible antitrust rules violations.
Nord Pool Spot runs the largest power market in Europe. In 2011 the group had a total turnover of 316 TWh. Majority of the total consumption of electrical energy in the Nordic countries is traded through the exchange. It is owned by national transmission system operators from Norway (Statnett SF 30%) Sweden (Svenska Kraftnät 30%), Finland (Fingrid Oyj 20%) and Denmark (Energinet.dk 20%).
Nordpool is regulated by the Norwegian Water Resources and Energy Directorate and by Norwegian Ministry of Petroleum and Energy. In addition to its operations in Nordic countries, it has offices in Tallinn and London (UK market N2EX). Altogether some 350 companies from 20 countries trade on the market.
Central European Epex Spot SE also confirmed in a brief statement that it is subject to an inspection by the directorate of competition of the European Commission. Epex Spot says on its website that its main goal is to drive forward the integration of European power markets. Nord Pool and Epex said last year that they are planning a joint power-trading platform which would command approximately 600 TWh of spot power trading, representing more than half of the entire electricity trading in Europe.
Antitrust violations prohibit cartels and restrictive business practises. The commission stresses that this preliminary step does not mean that the companies are guilty of such actions. ESA is responsible for enforcing EEA competition rules in Norway, Iceland and Liechtenstein.
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