Energinet settles legacy Cables case with ABB

Published at 12.7.2017 kl. 00.00
Energinet has agreed a settlement with ABB following the 2014 decision of the European Commission related to the cable industry

In 2009 an investigation was initiated by the European Commission (EC) to look into a number of cable manufacturers that had allegedly divided the market amongst them. In 2014, the EC ordered 11 enterprises to pay a fine totalling EUR 301 million. ABB was not fined and was recognized for providing information about the unlawful activities and co-operating to resolve the case. ABB has since divested its high-voltage cables business.

 

Over the years, Energinet has purchased a number of land and submarine cables from ABB, who has agreed to compensate Energinet for being disadvantaged in those contracts. Both parties have agreed not to disclose the financial terms or further details of the settlement.

 

“We have mutually reached an agreement with ABB related to high voltage cables procured by us in the past and consider the case as closed. Energinet will receive a fair compensation, which will also benefit our electricity consumers” says Annette Ikast, Vice President, Legal and Administrative Affairs, in Energinet.