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EU confirms investigation of Hungarian power companies

The European Commission confirmed on Wednesday it has investigated Hungarian electricity companies under suspicion of violating anti-trust rules.

On Tuesday, the Hungarian Electricity Works (MVM) Rt and grid operator Mavir informed news agency MTI of the investigation. MVM said it was cooperating fully with the investigators, and would voice its opinion on the matter after the process is completed. Mavir said it had requested the advice of legal experts before offering its full cooperation to the investigation committee, which includes officials from Hungary's Competition Office (GVH).
The Commission's statement on Wednesday confirmed as well that the investigation included members of Hungary's competition authority. The Commission noted that the surprise inspection “does not mean that the companies are guilty of anti-competitive behavior or prejudge the outcome of the investigation itself.” The investigation has no deadline, and its completion will depend on the complexity of each case, the extent to which the parties concerned cooperate with the Commission and the exercise of the rights of defense, the Commission said in its statement.