Stampa

C11990 - Conditional green light to merger between the two big energy operators in Alto Adige


PRESS RELEASE


PRESS RELEASE

 

CONDITIONAL GREEN LIGHT TO MERGER BETWEEN THE TWO BIG ENERGY OPERATORS IN ALTO ADIGE

The Antitrust Authority has given its conditional authorization to the fusion, for incorporation within a recently established Newco, of the two main operators in the energy sector in Alto Adige, vertically integrated in the supply chains of natural gas and electricity: this concerns the SEL Group, controlled by the Provincia Autonoma di Bolzano (PAB), and the AE Group, controlled by the municipalities of Bolzano and Merano. As a result of this merger, the new company will be jointly controlled by PAB and by the municipalities of Bolzano and Merano.

The measures imposed by the Antitrust Authority tend to avoid the creation of dominant positions that restrict competition in markets for the retail sale of natural gas and electricity as well as in the upcoming tender for the distribution of natural gas in the province of Bolzano.

As regards markets for the sale of energy services to end users, the conditions consist of the sale to third and independent parties of a business unit that is involved in the sale of gas, for a share of at least 30% of the relevant market, and the imposition of separate marketing policies and commercial activities for the sale of electricity under enhanced protection and on the free market. As a result of this measure, it is anticipated that there will be the implementation of the regulatory obligations laid down by the Authority for Electricity, Gas and Water (AEEGSI), further strengthening them through the ban on the Newco to use the previous brands with enhanced protection to operate in the open market.

To ensure a full competitive contest in the future tender for the adjudication of gas distribution services in the ATEM (integrated environmental authorities) of Bolzano, the authorization by the Antitrust Authority imposes furthermore the sale of shares by SEL and by the municipalities of Bolzano and Merano in the company Selgasnet, the most important outgoing operator in the same province.

Finally, the concentration was not considered appropriate to determine dominant positions in future markets for the renewal of various concessions for major hydroelectric branches that are due to expire. This consideration arose both from the applicable national legislation (that requires tendering procedures with public viewing for their award) as well as from the decision, taken by PAB with the Council resolution of 07 July 2015, to introduce in future tender competitions a further guarantee with the appointment of a panel of independent experts.

Rome, 17 July 2015