Czech watchdog cuts RWE Transgas fine to $11 mln

...utility RWE to 240 million crowns ($11.21 million) from 370 million crowns.

RWE Transgas, the natural gas supplier owned by RWE, was fined the highest ever by the UOHS last year for abusing its dominant market position.

The UOHS said on Tuesday it had reduced the fine because the company had cooperated and changed customer contracts to bring them into line with the competition law.

The UOHS had found RWE applied more favourable conditions to regional distributors belonging to its group than to those who did not and its contracts with distributors also limited their options to sell gas outside the territory they normally serve.

RWE Transgas said it would study the decision before deciding on the next course of action. It added it was convinced it had not caused any damage through its actions on the market.