High Voltage Power Cables
On 2 April 2014, the European Commission imposed fines totaling €301 million on 11 manufacturers of underground and submarine high voltage power cables. It found that these companies participated in a market sharing cartel which sought to allocate high voltage power cable projects, large infrastructure projects and renewable energy projects within the European Economic Area.
Power cables are used for the transmission and distribution of electrical power and are laid either underground or under water. They connect different power grids and carry electricity from power plants to substations and ship surplus electricity between countries.
The cartel was in existence from 1999 until January 2009 and was involved leading brands such as ABB, Nexans, Prysmian (previously Pirelli), J-Power Systems (previously Sumitomo Electric and Hitachi Metals), VISCAS (previously Furukawa Electric and Fujikura), EXSYM (previously SWCC Showa and Mitsubishi Cable), Brugg, NKT, Silec (previously Safran), LS Cable and Taihan.
In addition to the EC, competition authorities in the United States, Canada, Japan, Australia and Brazil have investigated or issued decisions against members of power cable cartels operating in their respective jurisdictions.
Subject to limitation, any business which purchased power cables affected by the cartel has a right to claim compensation for any losses suffered. The Hausfeld team has successfully acted and continues to act for leading energy suppliers pursuing claims for damages arising from the cartel. If you believe that you or your business may have been affected and would like to learn more, please contact one of the related lawyers.