BREAKING NEWS

BREAKING NEWS

European Commission to investigate British power capacity auction

European Commission to investigate British power capacity auction
FILE PHOTO: A farmer works in a field surrounded by electricity pylons in Ratcliffe-on-Soar, in central England, September 10, 2014. REUTERS/Darren Staples/File Photo -
Copyright
Darren Staples(Reuters)
Text size Aa Aa

LONDON (Reuters) - The European Commision will open an in-depth investigation into Britain's power capacity auction as instructed by the European Court, a spokesman for Europe's competition watchdog said on Friday.

An EU court ruled last week that Britain must halt payments, worth billions of pounds, under the scheme, pending an investigation by European Union regulators.

"The Commission understands the importance of a prompt resolution of this matter for the market," the spokesman said in an emailed statement.

(Reporting By Foo Chee Yun in Brussels, writing by Susanna Twidale in London)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.