Brussels/Prague - The European Commission said Tuesday it had raided the premises of Czech energy company CEZ following concerns that it may have engaged in illegal practices aimed at shutting rival firms out of the market. "The suspected illegal conduct may comprise excluding competitors and raising prices on the Czech wholesale electricity market," European Union regulators said in a statement out of Brussels confirming the surprise inspections.
In Prague, CEZ spokeswoman Eva Novakova said the company welcomed the inspection.
"It provides us with an opportunity to allay the speculation," Novakova told the German Press Agency dpa.
"We are convinced that all our steps have been in line with the law, rules and good manners," she said, adding that the firm was fully cooperating with the inspectors," she said.
Officials in Brussels note that surprise inspections are only a "preliminary step" in an investigation and do not necessarily mean that the companies are guilty of anti-competitive behaviour.
"Nor does it prejudge the outcome of the investigation itself," officials said.
State-controlled CEZ is central Europe's largest listed company and the Czech Republic's main power producer.
It also operates in 15 countries, including Albania, Bulgaria, Romania and Turkey.
EU regulators do not have a strict deadline for completing their inquiries into anti-competitive conduct. The duration of the probe depends on a variety of factors, such as the complexity of the case and the extent to which the companies concerned are willing to cooperate with the commission.
