BWB – Task Force Energy Sector: Abuse of Market Power and Cartelized Behavior of Electricity Companies?
Vienna (OTS) – The office of Prof. Dr. On December 13, 2022, Georg Zanger submitted the attached statement of facts to the BWB and the Competition Department in Brussels.
It expresses significant competition law concerns about the EUPHEMIA price coupling algorithm used on the stock exchange. There is a suspicion that a digital cartel leads to top prices.
Structural competition deficits at the production level also enable market dominators to enforce business conditions that would not arise if competition were actually fair.
The fact is that exchange trading only accounts for a fraction of the total market volume. In Austria, around 80% of electricity is generated from renewable energy (hydroelectric power, wind turbines, photovoltaics). There is no comprehensible reason why energy companies still quote the market price to customers.
This collusive behavior of the big players leads to excess profits in the billions, while the federal government looks on and even injects millions in taxpayers’ money.
Questions & contact:
Law firm zanger-bewegt
Prof. dr. Georg Zanger, MBL-HSG
E: office@zanger-bewegt.at
T: 01 512 02 13
