Price fixing found in Latvenergo tender

Offers in an open tender for dismantling works, organized by state electricity giant Latvenergo, was found to have evidence of price fixing (cartel) by the Competition Council. The council decided to fine the companies in question for €100,000, BNS reported Friday.

Four contestants of the tender were found to have formed a cartel: the limited liability companies E Būvvaldība, Remontbūve, Eirotransmet, and Eirobūvmetāls. They are to pay a fine of about €98,000.

The Competition Council's move followed information about a possible competition law violation, handed to the council by the organizer Latvenergo.

It was discovered that not one but two separate pairs of cartels were formed that would hand 'fixed' offers to the tender. The information was exchanged between the pairs of E Būvvadība and Remontbūve, and between Eirotransmet and Eirobūvmetāls

During the investigation E Būvvaldība used the opportunity to cooperate and to announce details of the unlawful agreement, thus halving the fine handed to them.

Officials of the companies Eirotransmet and Eirobūvmetāls have also been fined for interfering with the investigation. 

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