Business backs EU over energy price-fixing

16 February 2006

The European Commission's warning to energy companies over price-rigging has been welcomed today by business leaders.  The Institute of Directors (IoD) said it agreed with the call from EU competition boss Neelie Kroes for the industry to open up. The Commissioner warned gas and electricity companies in some member states they face a crackdown on anti-competitive behaviour.

Geraint Day, Head of Energy Policy at the IoD, said:

"One of the things often said in support of the EU is the Single Market. Yet, here we have a situation in which an absolutely crucial part of all member states' economies appear not to be working according to the Single European Market principles, to the detriment of consumers and businesses alike. The cross border constraints are also of concern at a time when Europe may need to ensure uninterrupted energy supplies to all member states."