French antitrust agency fines energy giant EDF €300m

France’s competition regulator said on Tuesday that it had fined the former electricity monopoly EDF for abusing its dominant market position at the expense of rivals for years. The penalty of €300 million for EDF, still majority owned by the French state, was lower than it could have been, since the group did not contest the allegations and agreed to settle. Regulators found that starting in 2004, EDF took advantage of its extensive client lists stemming from its status as the public service and network provider to try to win over millions of new customers for electricity, gas and other services. The practice came as France was opening up its energy markets under EU directives. While EDF was required to offer a fixed electricity price, set by the French authorities, to all clients, customers could also start getting electricity and other energy services from new entrants on the market, free to set their own prices. The Competition Authority said EDF and several subsidiaries also unfairly used marketing divisions dedicated to managing the fixed-rate contracts to develop market-price offerings for new clients. “The goal was to convert a large number of clients at a crucial...