Competition Appeals Committee Overturns Competition Authority Fine Against Landsvirkjun

The Competition Appeals Committee today issued a ruling overturning the Competition Authority’s decision to impose an administrative fine of ISK 1.4 billion on Landsvirkjun. The case has been referred back to the Competition Authority for reconsideration.

Jonsson & Hall represented Landsvirkjun in the proceedings.

In its ruling, the Committee concluded that the investigation had not satisfied the requirements of the administrative law duty of investigation. The deficiencies identified related, among other things, to market definition and the assessment of the competitive effects of pricing.

The ruling is significant beyond the circumstances of the individual case and provides important guidance on the standards that apply to investigations and economic analysis in competition law matters, particularly with respect to market definition and the assessment of alleged anti-competitive conduct.