In early June, Transelectrica received a statement of objection from the European Commission. According to the statement, OPCOM’s requirement that spot market participants hold a Romanian value added tax registration is discriminatory against foreign traders, in breach of EU antitrust rules.
“Transelectrica dismisses the Commission’s preliminary opinions and plans to use all legal means available to defend itself. A first step will be to send a formal reply to the Commission’s statement of objection and to request a hearing on the matter,” Transelectrica said in a statement.
The investigation of OPCOM by the Commission started in December 2012. If the Commission concludes OPCOM is in fact breaching EU antitrust rules, the Romanian exchange may be fined by up to 10% of its annual turnover.