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Update:
- The Competition Appeal Tribunal gave the green light to a class action lawsuit filed against three high-voltage power cable manufacturers over claims they fixed prices, Law360 reports.
- The class action lawsuit is led by Clare Spottiswoode, former director of Ofgem, a United Kingdom gas regulator.
- The tribunal agreed to certify a collective proceedings order that will allow more than 30 million domestic energy consumers to be part of claims against cable makers Prysmian SPA, Nexus SA of France and NKT of Denmark.
- The European Commission previously punished the cable makers in 2014 for inflating the price of power cables purchased by U.K. energy suppliers to connect to the electricity grid, according to Law360.
- Consumers seek £286.3 million-£790.2 million in damages.
Power cable cartel class action lawsuit overview:
- Who: Clare Spottiswoode, the former head of Britain’s gas regulator, filed a class action lawsuit against three European power cable suppliers and their subsidiaries.
- Why: Spottiswoode alleges the companies artificially inflated prices of power cables, overcharging network operators and leading to inflated consumer energy bills.
- Where: The class action lawsuit was filed in London.
(May 19, 2022)
A new class action lawsuit alleges three major European power cable suppliers participated in a cartel that led to 30 million British consumers facing sky-high electricity charges since 2001.
The lawsuit was brought against Prysmian SPA in Italy, Nexans SA in France, NKT A/S in Denmark and their subsidiaries. It alleges the companies charged network operators artificially high prices for power cables; in turn, the operators increased consumer energy bills.
European power cable cartel faces Competition Appeal Tribunal
The power cable class action lawsuit is led by Clare Spottiswoode, the former head of Britain’s gas regulator. Spottiswoode is working with the law firm Scott+Scott, and the class action lawsuit is being funded by Capita.
Spottiswoode aims to win compensation for consumers who paid domestic electricity bills on or after April 2001, according to the class action lawsuit.
She brought the lawsuit to the Competition Appeal Tribunal (CAT), a specialist London court. The CAT will determine whether the case will be certified as an opt-out class action. This would mean anyone who qualifies for the class will automatically be included in the lawsuit and must opt out to be removed from the class.
If you paid a domestic electricity bill in Britain in the last 21 years, you could be a part of this power cable cartel class action lawsuit! Let us know what you think below!
The plaintiff is represented by Scott+Scott. The power cable cartel class action lawsuit is funded by Burford Capita.
The Power cable cartel class action lawsuit is in the Competition Appeal Tribunal in London.
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