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Revised time-plan for the market investigation of the Icelandic fossil fuel market

7/3/2014

Woman putting gas in car

In June 2013 the ICA initiated a market investigation into the market for fossil fuels in Iceland. The investigation is  i.a. meant to answer the question whether it is necessary to take measures against circumstances or conduct which prevents, limits or affects competition to the detriment of the public interest. The ICA issued a plan of the investigation in June 2013 describing how the ICA intended to proceed. According to the plan the ICA expected the information gathering to be finished in the first half 2014. The Authority planned to have reviewed the data and to have published preliminary findings at that time.  

As the gathering of information was more extensive and time consuming than expected, and because of other circumstances, the ICA has issued a new time-plan in accordance with Art. 4 in rules No. 490/2013. According to the revised time-plan it is expected that in the end of year 2014 information gathering and the ICA‘s review of the data will be finished and that a report with preliminary findings will be issued in the first half of 2015. The preliminary report will include a draft version of the conclusions of the market investigation. If the ICA deems it necessary to use its powers according to Art. 16 in the Competition Act, the ICA will issue a special statement of objections according to chapters III and IV in the aforementioned rules No. 490/2013.

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