October 8, 2019 / 9:04 AM / 2 months ago

Italy court orders antitrust to recalculate Enel 93 million euro fine

FILE PHOTO: The new logo of Italy's biggest utility Enel is seen inside its flagship store in downtown Milan, Italy, May 4, 2018. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - An Italian administrative court has asked Italy’s competition watchdog to re-calculate a fine of 93 million euros ($102 million) slapped on utility Enel (ENEI.MI) for alleged abuse of a dominant market position, the court said.

In a ruling seen by Reuters on Tuesday, the court said the reasons for its decision would be announced in the next 30 days.

Certain Enel group units had asked for the fine, levied on operations in a part of Italy’s power market, to be reduced, a legal source said.

Enel, Italy’s biggest utility, said it did not know the reasons of the ruling and so would not comment but added it reserved the right to appeal.

It reiterated it had operated in full compliance with market rules.

Reporting by Stephen Jewkes

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