The Competition Authority initiates a market investigation into the market for fossil fuels
The Competition Authority has decided to initiate a market investigation on the Icelandic fossil fuels market. This is the first time the Competition Authority initiates a market investigation of this form. The investigation is based on Art. 16 in the Competition Act which authorises the Competition Authority to take measures against circumstances or conduct which prevents, limits or affects competition to the detriment of the public interest, even in cases when the ban provisions of the Competition Act have not been violated. A market investigation of this kind includes an economic analysis of competition in a certain market or a certain market segment. The Competition Authority has established rules on the conduct of market investigations (In Icelandic: reglna um markaðsrannsóknir Samkeppniseftirlitsins nr. 490/2013 ) and also issued a discussion paper on the market investigations of the Competition Authority (In Icelandic: umræðuskjals um markaðsrannsóknir Samkeppniseftirlitsins nr. 2/2012.).
The Competition Authority plans to have gathered information and data and evaluated this data in the first half of 2014. The authority plans to publish a preliminary report in the middle of year 2014.