Has Merger Control Made A Contribution Towards The Liberation Of The Gas And Electricity Markets In The European Union

The European Commission (the "Commission") has been, for over a decade, in the midst of creating well-functioning competitive markets for gas and electricity. Given the policies of economic protectionism adopted by certain Member States, the slow pace of market reforms and the resulting signs of weakness of energy regulation, the Commission has been determined to apply vigorously its competition powers to enhance liberalisation, support restructuring and open energy markets. The frenetic level of merger activity has prompted the Commission to review over 100 transactions making merger control one of the core areas of competition enforcement. The research question is: has merger control made a contribution to energy liberalisation or energy policy? The issue of whether a competitive internal market can be built on the basis of energy regulation (existing or forthcoming) or requires the assistance of competition law, including merger control, has been a central one for some time. The general purpose of this thesis is to establish if the European Community Merger Regulation (the "ECMR") gives the Commission any scope to advance its energy policy agenda and help drive the debate. This thesis argues that merger control has made a significant contribution to energy liberalisation without having taken the place of regulation. The Commission has legal grounds and policy incentives to take the opportunity of the merger review process to ensure the introduction of competition and the acceleration of market integration.

Twenty years of experience have inevitably brought to light challenges and tensions in the enforcement of the European merger control system. Some of these challenges have been faced, some have been solved and some remain latent. This very valuable study starts from the proposition that the EU has never fully acknowledged those fundamental challenges which relate to the rationale behind merger control in Europe. The author shows how the Commission’s focus on adapting the rules of merger control to the economic realities of the future business environment, although designed with a view to facilitating European integration, has compromised attainment of legal certainty, transparency and welfare enhancement. In its detailed evaluation of the ‘future market structure prediction process’ embedded in European merger control policy, this book approaches two rock-bottom, far-reaching questions: In what ways does merger control promote consumer and societal welfare? Is the Commission able to correctly predict the outcome of any given concentration transaction? These considerations take the reader through a deep and searching analysis that calls into question the very credibility and transparency of the system, leading to alternatives which promise a new clarity of purpose and procedure. The author describes how these recommendations can be integrated into the functioning framework of the European project. Taken fully into account along the way is a wide spectrum of relevant source material, including the following: applicable articles and chapters of the founding and subsequent European Treaties; secondary European legislation concerning competition and merger activity; domestic competition laws; guidelines, notices and action plans; competition law reviews, statements of intentions; draft legislative attempts; speeches on the enactment and purpose of merger control; Member States’ views concerning European merger control as expressed during Council negotiations; officially available concentration-related statistics; and a wide-ranging literature review covering both the legal and economic sides of merger control. Throughout, the author substantiates theoretical assertions with case law examples, clearly exposing doctrines arising from such cases as Continental Can, Phillip Morris/Rothmans and the Airtours, Schneider and Tetra Laval trilogy. A unique feature of the analysis draws on the author’s personal experience while working for a Brussels competition law firm. This book is a remarkable compound of academic guide to the roots and rationales of the European Merger Control System, practical guide to the day-to-day intricacies of merger control enforcement, and ‘raw’ guide for decision makers and merger control law enforcers. It will be of immense value in all three contexts.

This second edition provides an exhaustive analysis of the European Community rules relating to merger control, including the new EC Merger Regulation 139/2004 of 20 January 2004 which entered into force on 1 May 2004 and the latest interpretive notices adopted by the European Commission. The book draws upon the authors' detailed and practical knowledge of the subject as officials at DG Competition and practitioners specialising in this field, and will be updated through a companion website.

The European Commission (the "Commission") has been, for over a decade, in the midst of creating well-functioning competitive markets for gas and electricity. Given the policies of economic protectionism adopted by certain Member States, the slow pace of market reforms and the resulting signs of weakness of energy regulation, the Commission has been determined to apply vigorously its competition powers to enhance liberalisation, support restructuring and open energy markets. The frenetic level of merger activity has prompted the Commission to review over 100 transactions making merger control one of the core areas of competition enforcement. The research question is: has merger control made a contribution to energy liberalisation or energy policy? The issue of whether a competitive internal market can be built on the basis of energy regulation (existing or forthcoming) or requires the assistance of competition law, including merger control, has been a central one for some time. The general purpose of this thesis is to establish if the European Community Merger Regulation (the "ECMR") gives the Commission any scope to advance its energy policy agenda and help drive the debate. This thesis argues that merger control has made a significant contribution to energy liberalisation without having taken the place of regulation. The Commission has legal grounds and policy incentives to take the opportunity of the merger review process to ensure the introduction of competition and the acceleration of market integration.

Rev. edition of : "Merger control in the EU," edited by Peter Verloop, 3rd rev. ed., 1999.

Co-written by an expert lawyer and economist, this book provides a thorough guide to the economic theory behind the regulation of mergers. The economic theory is then used to analyse the current state of European competition law, and test the success of the European Commission's search for a 'more economic approach' to merger regulation.

The Merger Control Review, edited by Ilene Knable Gotts of Wachtell, Lipton, Rosen & Katz, provides an overview of the process in 38 jurisdictions, as well as a discussion of recent decisions, strategic considerations and likely upcoming developments in Merger Control. Given the ability of most competition agencies with pre-merger notification laws to delay, and even block, a transaction, it is imperative to take each jurisdiction - small or large, new or mature - seriously. It is, therefore, imperative that counsel for such a transaction develops a comprehensive plan prior to, or immediately upon, execution of an agreement concerning where and when to file notification with competition authorities regarding such a transaction. The intended readership of this book comprises both in-house and outside counsel who may be involved in the competition review of cross-border transactions. In our endeavour to keep our readers well informed, we have expanded the jurisdictions covered by this book to include the newer regimes as well with several special chapters covering US, EU and Chinese Merger Control in Media and Pharmaceutical sectors. Contributors include: Susan Ning, King & Wood Mallesons; James Langenfeld, Navigant; Goenenc Guerkaynak, ELIG; Mr Jordan Ellison, Slaughter and May."e;Each country section provides an informative overview of recent and expected enforcement trends... A very useful book!"e; - Jean-Yves Art, Associate General Counsel, Microsoft, Belgium

In this recent volume, the authors react to the latest development in the European Community--the EC Merger Regulation--approved by the European Council of Ministers and analyze how this decision will impact mergers and regulation in the future for Europe.