On Friday 2nd December 2005 the case concerning the ex-officcio investigation against the Electricity Authority of Cyprus (EAC) was concluded at a meeting of the Commission for the Protection of Competition (CPC). The investigation against EAC began in February 2004 and resulted in a Statement of Objections being issued against EAC citing the imposition of unfair prices and cross-subsidization on the part of EAC as infringements of the Law for the Protection of Competition.
The legal counselors of EAC submitted the final positions and additional clarifications on their written submissions on the case, and did not contest, in part, the objections of the CPC. Moreover, they provided an acknowledgment of the contribution of EAC to the society and economy of Cyprus as part of the mitigating factors that the Commission should consider in reaching its decision.
The Commission has reserved the delivery of its decision for the next few days.