On February 7, 2012, the European Commission announced that its officials had conducted unannounced inspections (so-called 'dawn raids') at the premises of companies active in managing power exchanges in several EU member states (Commission MEMO/12/78).
Oslo-based Nord Pool and Epex, which are jointly owned by French exchange Powernext and German exchange EEX, confirmed the raids took place and said they are cooperating with the Commission.
The Commission states that it is investigating whether the companies concerned may have infringed the EU rules on restrictive agreements contained in Article 101 of the Treaty on the Functioning of the EU (TFEU). The inspections are a preliminary step in the Commission’s investigation...
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