High Voltage Power Cable Cartel European Commission imposes fines of €302m on participants
The European Commission has imposed fines totalling just over €300 million on cartel participants involving the supply of underground and submarine high voltage power cables for important projects in the EEA (including large infrastructure and renewable energy projects such as offshore wind farms).
The firms involved in the cartel were ABB, Nexans, Prysmian (previously Pirelli), J-Power Systems (previously Sumitomo Electric and Hitachi Metals), VISCAS (previously Furukawa Electric and Fujikura), EXSYM (previously SWCC Showa and Mitsubishi Cable), Brugg, NKT, Silec (previously Safran), LS Cable and Taihan. ABB received full immunity from fines as it was the first to reveal the cartel to the Commission.
What does this decision mean for you?
Regardless of whether you have had dealings with any of the cartel participants during the period in which the cartel operated (1999-2009) - you may be able to reclaim any overcharges incurred or umbrella payments made. Read our Competition Case Law Update to find out more on the implications of the case for you and the possible remedies available.
For more information, visit EU and Competition pages