Bundeskartellamt prohibits Mainova from acquiring shares in the Aschaffenburg municipal utilities

The Bundeskartellamt in Bonn has prohibited the electricity and gas provider Mainova AG, Frankfurt am Main, from acquiring a 17.5 per cent stake in Aschaffenburger Versorgungs GmbH, the energy subsidiary of the Aschaffenburg municipal utilities.

The examination of the project has shown that the planned participation is likely to result in a strengthening of dominant positions in the regional and local markets for gas sales. In particular, the markets for the supply of gas to distributors and to small customers are affected. 

In the view of the Bundeskartellamt’s president, Ulf Böge, a further strengthening of dominance would increase the companies’ scope for action, and thus also their leeway for setting prices, to the detriment of the consumers. He referred to the prohibition as a "consistent continuation of the Bundeskartellamt's policy to keep energy markets open in order to counter further market foreclosure effects. Such market foreclosure effects can also result from shareholdings well below the 25 per cent threshold." Dr Böge continued by saying: "The Bundeskartellamt continues to define markets in the gas sector, which is still characterised by a below-average transmission competition, in regional terms, according to the geographical range of the transmission networks. Thus, regional companies such as Mainova usually also have a dominant position that would be strengthened by a participation in a municipal utility as a customer."