The EU Commission prohibits a merger between gas and electricity national incumbents (EDP / ENI / GDP)

"EDP/ENI/GDP: the Commission prohibits a merger between gas and electricity national incumbents"* On 9 December 2004, the European Commission decided to block the proposed acquisition of Gás de Portugal (GDP), the incumbent gas company in Portugal, by both Energias de Portugal (EDP), the incumbent electricity company in that same country, and ENI, an Italian energy company. After an in-depth investigation, the Commission concluded that the deal would have strengthened EDP’s dominant position, notably in the Portuguese electricity wholesale and retail markets, and GDP’s dominant position in the various gas markets in Portugal, as a result of which effective competition would have been significantly impeded. This case illustrates how a given merger may lead to different anticompetitive