A fine of 1.4 billion Icelandic krónur, imposed on the state-owned energy provider Landsvirkjun by the Competition Authority, has been annulled by Iceland’s Competition Appeals Board. The decision comes after the Board found procedural flaws in how the case was handled, according to a report by Vísir.
The Appeals Board referred the case back to the Competition Authority for new handling and a new decision. The timeline and potential outcome of this renewed investigation are not yet clear.
The original fine was levied over Landsvirkjun’s sale of electricity intended to offset transmission losses in the grid, which is managed by Landsnet. RÚV, Iceland’s national public broadcaster, noted that the investigation into Landsvirkjun’s conduct was flawed and that the Competition Authority had not sufficiently informed the case.
Following the Appeals Board’s decision, Landsvirkjun sharply criticized the Competition Authority in a public statement. The specific content of this criticism was not detailed in the available reports.
Sources
- Vísir (first reported) in Icelandic
- mbl.is in Icelandic
- RÚV in Icelandic
Image: Diego Delso / Wikimedia Commons (CC BY-SA 4.0) · licence, original (resized) Illustrative image.
