The Finnish Competition Authority clears a merger in the electricity market subject to divestitures and supply of virtual capacities (Fortum Power-Heat / E.ON Finland Oy)

In its decision of June 22nd, 2006, the Finnish Competition Authority (the “FCA”) cleared the acquisition of control of E.ON Finland Oyj (“E.ON Finland” ), a member of the international E.ON AG Group, by Fortum Power and Heat Oy, a subsidiary of the Finland-based energy company Fortum Oyj (“Fortum”), subject to conditions. The decision was given under the Finnish Act on Competition Restrictions (480/1992, as amended). Pursuant to the decision, Fortum shall renounce part of its production capacity and offer to the Finnish market an annual 1 TWh of so-called virtual capacity until March 31, 2011. The decision reflects changes to be felt in the Finnish electricity market by the end of the decade with the commencing of the new Olkiluoto 3 nuclear power plant and the construction of new Nordic

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Kai Lintunen, The Finnish Competition Authority clears a merger in the electricity market subject to divestitures and supply of virtual capacities (Fortum Power-Heat / E.ON Finland Oy), 2 June 2006, e-Competitions Bulletin Energy & Mergers, Art. N° 12416

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