FRANKFURT (Thomson Financial) - The head of the German cartel office, Bernhard Heitzer, said the regulator will not hesitate to use new remedies which empower it to make energy companies lower prices in an interview with German daily Handelsblatt.
'If the lawmakers give us more powerful tools, they're not just threats, we will actually use them,' Heitzer told the newspaper, adding that he has 'considerable doubts' about the latest round of price increases.
Last week, Germany's parliament tightened cartel laws to prevent electricity firms, food producers and other companies from misusing their market position.
Under the law, if cartel authorities suspect electricity prices are exorbitant, suppliers must disclose their costs and calculations and if prices are deemed excessive, the cartel office can force companies to lower prices. frances.robinson@thomson.com fr/lam COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2007 AFX News
