The European General Court has reduced fines imposed on GDF Suez and E.ON, ruling that the European Commission erroneously calculated the duration of infringement. The two electric utilities had entered into a market-sharing agreement not to compete with their respective national gas markets when they built the Megal pipeline to import gas from Russia.
Each company's new fine is 320 million euros; the original fines from 2009 were 553 million euros each.
Full content: Reuters
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