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BREAKING NEWS

UK energy market regulator to consider closing inquiry into EPEX

UK energy market regulator to consider closing inquiry into EPEX
FILE PHOTO: The sun rises behind electricity pylons near Chester, northern England October 24, 2011. REUTERS/Phil Noble -
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Phil Noble(Reuters)
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LONDON (Reuters) - Britain's energy market regulator Ofgem said on Thursday it will consider closing an investigation into power exchange EPEX after the company committed to steps which will avoid distorting competition.

Last December, Ofgem launched an investigation into whether EPEX had abused a dominant position by not letting its main competitor Nord Pool participate in some electricity trading auctions between Britain and Irish energy markets.

It said EPEX's actions to prevent its Nord Pool entering the market were likely to have distorted competition which could lead to an increase in fees or reduced services for customers using the power exchange.

However, EPEX has committed to steps which will let Nord Pool participate in these auctions. It will also carry out an internal review of its competition law training.

"Ofgem is minded to close the investigation with the acceptance of commitments," the regulator said in a statement.

"The commitments address Ofgem's concerns and should ensure that Nord Pool is able to access the auctions by July 23," it added.

Ofgem will now consider any comments raised in a public consultation before deciding whether to accept these commitments. If it formally accepts them, it can close the investigation.

(Reporting by Nina Chestney; editing by Jason Neely)

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