EU cartel inspectors raid electricity trading exchanges

(BRUSSELS) - EU regulators raided a series of electricity trading exchanges Tuesday, probing fears that wholesalers may be operating an energy cartel, the European Commission said.

"Officials undertook unannounced inspections at the premises of companies active in managing power exchanges in several member states," the European Union executive said in a statement.

"The Commission has concerns that the companies concerned may have violated European antitrust rules that prohibit cartels and restrictive business practices."

Epex-Spot SE in Paris was one of the exchanges inspectors visited, said a spokesman for its German sister company EEX, which vowed full cooperation.

The Commission specified that the inspections concerned the European Economic Area (EAA) which adds Norway, Iceland and Liechtenstein to the 27 EU states.