The Hellenic Competition Commission (HCC) conducted unannounced inspections (dawn raids) at the premises of undertakings operating in the markets for electricity generation and wholesale supply within the framework of its ex officio investigation into these markets.

The HCC is investigating suspected horizontal agreements/concerted practices between undertakings aimed at preventing, restricting, or distorting competition in breach of Articles 1 of Law 3959/2011 on the "Protection of Free Competition" and 101 of the Treaty on the Functioning of the European Union (TFEU), in particular through direct or indirect price fixing and determining other trading conditions and/or through the limitation or control of production/distribution. The HCC is also investigating possible abuse of a dominant position by an undertaking, in breach of Articles 2 of Law 3959/2011 and 102 TFEU, in particular through the imposition of unfair prices or other trading conditions and/or through the limitation of electricity generation/supply.

Unannounced inspections take place at undertakings where evidence may be collected concerning anticompetitive practices in the markets concerned and they do not mean that the inspected undertakings have engaged in anti-competitive behavior, nor do they prejudge the outcome of the investigation itself.

The HCC’s ex officio investigation in the above markets is being conducted with the assistance of the Regulatory Authority for Waste, Energy and Water, as part of a coordinated effort by the two Independent Authorities to investigate possible infringements within the framework of their distinct powers.

The  above Regulatory Authority has launched an ex officio investigation into violations of the REMIT Regulation (Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency, as amended by the new Regulation (EU) 2024/1106), by companies operating in the energy market.

Legal Framework

The HCC enforces Greek and EU antitrust rules according to national law 3959/2011 and Articles 101 and 102 TFEU:

• Article 1 of Law no. 3959/2011 and Article 101 of the TFEU prohibit anticompetitive agreements and decisions of associations of undertakings that prevent, restrict or distort competition.
• Article 1A of Law no. 3959/2011 prohibits unilateral practices that constitute an invitation to collude or future price announcements to competitors.
• Article 2 of Law no. 3959/2011 and Article 102 of the TFEU prohibit the abuse of a dominant position.

The HCC intervenes within its competence as an immediate priority where necessary and examines any relevant case that comes to its notice, upon submission of a complaint, application for leniency or anonymous information through the secure digital environment (whistleblowing) and will impose severe administrative sanctions on companies that apply anti-competitive practices, pursuant to the provisions of law 3959/2011 and articles 101/102 TFEU.

The HCC’s leniency programme

The finding of any engagement of an undertaking or association of undertakings in cartel agreements, i.e. secret agreements among competitors, aimed at fixing prices and quantities, allocating customers or market shares, or in bid-rigging agreements, may lead to the imposition of significant fines by the HCC, criminal sanctions against the natural persons responsible for these infringements and exclusion of the undertakings concerned from public tenders and concession contracts for three (3) years from the issuance of the HCC’s decision. 

The HCC’s leniency programme has significant advantages for undertakings, associations of undertakings and natural persons involved in cartels, as it offers:

• Immunity from fines or reductions in administrative fines,
• Immunity from, or reductions in, criminal fines,
• Immunity from any kind of administrative sanctions.
• In addition, the undertakings are not barred from public tenders or concession contracts.

For more information on the HCC’s leniency programme, please visit: https://www.epant.gr/en/legislation/leniency-programme.html or call +30 210 88 09 100. 

Further information on the HCC’s whistleblower tool is available on the HCC’s website, at: https://www.epant.gr/en/whistleblowing.html

Informal press release for information purposes only, non-binding on the Hellenic Competition Commission.