Italy's antitrust probes 7 energy firms over illegitimate price setting

ROME - Italy's antitrust authority said on Tuesday it had opened investigations into seven energy companies, including Eni and Enel for suspected illegitimate conduct in price setting for electricity and natural gas.

The firms involved, which also include Hera, Edison, A2A, ACEA and French group Engie, represent around 80% of the Italian market, the authority said.

It suspended the validity of contracts from Aug. 10 this year to April 30 2023 that allowed the companies to change their prices, which it said contravened a government decree of August 9.

Price changes already effective before the decree came into effect were excluded from the antitrust authority's ruling.