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The establishment of a company between Landsvirkjun, Eyþing, Norðurorka hf. and Húsavík Energy ohf. regarding the joint venture project EIMUR

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  • Case number: 11/2017
  • Date: 15/3/2017
  • Company:
    • Landsvirkjun
    • Orkuveita Húsavíkur ehf.
    • Norðurorka hf
    • Eyþing
  • Sectors:
    • Energy
  • Policy Area:
    • Mergers
  • Summary

    The Competition Authority in Iceland has examined the planned innovation project between Landsvirkjun, Eyþing (regional associations of municipalities in the Northeast of Iceland), Norðurorka hf. and Húsavík Energy ohf. named EIMUR. The joint venture and the establishment of the company EIMUR involve a merger within the meaning of paragraph d. in Article 17.  of the competition act. no. 44/2005. The project will involve a collaboration between the above parties within the premises of Eyþing which aims to ensure improved utilization of energy resources, increase production value in general in the region and ect. To achieve the above the parties have decided to establish a company to secure the project. The project is not assumed to have a negative impact on competition between the companies. The project task is to improve innovation and development and the involvement of the company EIMUR will only be on a grant basis to encourage innovative projects, increased knowledge, education and business development. The company EIMUR will not be associated in production or sale of goods and services. According to the case documents the innovation project EIMUR and related projects will not lead to coordination between the independent undertakings that restricts competition within the meaning of Article 10. of the Competition Act. It is also not considered a dominant market position will emerge or be strengthened relating to the project or that the merger will lead to distortions of competition in other respects in a significant manner according to article 17. c. of the Competition Act. The Competition Authority in Iceland came to the conclusion that there is no reason to interfere in this  merger on the basis of  Article 17 of the Competition Act.