The acquisition of DEPA Infrastructure by ItalGas was approved by the Competition Commission. As stated in detail, announcement of the committee:
At a meeting of the Plenary Session of the Competition Commission on 15 March 2022 (Decision 770/2022), it was unanimously decided to approve the notified concentration concerning the acquisition of sole control by ITALGAS NEWCO SRL, a 100% subsidiary of ITALGAS SPA. and which is controlled by the Italian State, on the company “DEPA SOCIETE ANONYME SOCIETE ANONYME” and through it, the three subsidiaries of DEPA INFRASTRUCTURE, ie the companies “GAS DISTRIBUTION COMPANY SA” – “ETAIA” and “PUBLIC ENTERPRISE OF GAS DISTRIBUTION NETWORKS SA” according to article 8 par. 3 of L.3959 / 11, as in force.
The concentration concerns the natural gas transportation market (primary) with geographical dimension the Greek territory and the natural gas distribution market with geographical dimension a) the Prefecture of Attica, the natural gas distribution network developed and operated exclusively by the “GAS DISTRIBUTION COMPANY” AT , b) the Prefectures of Thessaloniki-Thessaly where the relevant natural gas distribution networks are developed and operated exclusively by the “THESSALONIKI-THESSALIA GAS DISTRIBUTION COMPANY SA” and c) of the rest of Greece that develops and operates natural gas distribution networks. GAS DISTRIBUTION SA “, except for the regions of the rest of Greece where other distribution networks of third companies are developed and operated.
According to the decision, although the gas transmission market is theoretically upstream market of the gas distribution market in the sense that the natural gas transported through the National Natural Gas System (NSF) is channeled (through the NSRF Exit Points) to the final networks DESFA, the manager of the NFSP which is controlled by the CDP Group (and can be described as a passive investor in the acquiring Italgas) does not contract with the Distribution Network Operators for the purposes of such transmission and distribution of natural gas (performed by third parties companies using ESFA) and, therefore, the classic vertical supplier-customer relationship between DESFA and EDAA, EDA THESSA and DEDA disappears. Therefore, there is no question of excluding the access of competitors of EDAA, EDA THESSA and DEDA to inputs, while conversely there is no question of excluding the access of DESFA competitors to customers, who in any case do not exist due to the natural monopoly of the National System. our country.
The companies EDAA, EDA THESS and DEDA operators of natural gas distribution networks in our country are obliged, in order to avoid any discrimination between users or categories of users of the Network, equal access to the Network of Gas Suppliers and Customers and / or the connection to the Network. those who request it, in accordance with the terms and conditions set out in the law and supervised by the Energy Regulatory Authority.
The merger does not provide the capacity and incentive for DESFA to limit the development of the NSRF in such a way as to adversely affect the development and ultimately the interconnection of distribution networks managed by competitors of EDAA, EDA THESSA and DEDA.
The merger also does not bring about any change in the structure of the wholesale gas supply market or in the structure of the retail gas supply market, as none of the participating parties are active in these markets while CDP’s participation in the EMI ZENITH natural gas retail company has the character of a passive investor.
In any case, it is pointed out for reasons of completeness, that the access to the NSRF networks as well as to the gas distribution networks and the pricing of the access are regulated by law 4001/2011 and by the individual regulatory decisions issued by the Energy Regulatory Authority.
Therefore, the Competition Commission, in Plenary, unanimously approved according to article 8 par. 3 of law 3959/2011, the notified concentration that concerns the change of control, given that this concentration, although it falls within the scope of paragraph 1 of article 6 of law 3959/2011, does not cause serious doubts, as to its compatibility with the operating requirements of the competition in the individual relevant markets in which it concerns, namely the transmission and distribution of natural gas in Greece.
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