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French antitrust body orders Engie prices to reflect costs

Published 02/05/2016, 10:31
Updated 02/05/2016, 10:40
© Reuters. The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie near Paris
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PARIS (Reuters) - France's competition authority said on Monday it had ordered energy company Engie (PA:ENGIE) to ensure its prices for natural gas sales to companies better reflect its costs.

The antitrust body said that it had ruled today that Engie had set tariffs for individual price offers to corporations without taking into account its real costs, at the risk of predatory pricing or pushing other players out of the market.

© Reuters. The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie near Paris

Its investigation followed a complaint by Engie competitor Direct Energie in October, which argued that some of Engie's market offers were anti-competitive.

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