Chairman of Monopolies Commission Calls for Power Trading Market Surveillance Body

In an interview with Rheinische Post, Prof. Justus Haucap, Chairman of the Monopolies Commission, called for a special market surveillance body (Marktüberwachungsstelle) for power trading. The body should investigate possible market abuse and could be attached to the Federal Cartel Office.

Mr Haucap’s demand has to be seen in connection with the discussed extension of the operating times of German nuclear power plants. In his view, an extension is necessary to avoid massive price increases. At the same time, it would further strengthen the market power of the four main utilities and nuclear power plant operators E.ON AG, RWE AG, EnBW AG and Vattenfall. Investments of competitors in new power plant capacities would be devalued, he said.

Mr Haucap recommended linking the extension to the obligation of selling gas and/or coal-fired power plant capacities. He also suggested to enhance competition by facilitating electricity imports.

Source: Rheinische Post

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