ITALY ECJ ENERGY INVESTMENT RULES
October 1st, 2005
BY KEITH NUTHALLTHE EUROPEAN Commission is pressuring Italy to implement a European Court of Justice (ECJ) ruling telling it to liberalise restrictive investment rules that effectively prevent large foreign publicly-owned utilities from controlling Italian electricity and gas companies. Under Italian law, where such foreign groups enjoy a "dominant position" in their home markets, they cannot exercise voting rights beyond 2% normally attached to Italian energy holdings. The ECJ in June ruled this illegal under EU fair trade rules, but the Commission believes Rome ...
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