Final Word from Tuesday, June 26, 2012
What's the difference between a monopoly and a duopoly? With a
duopoly, it's easier to pretend there's price competition. Yet it
was suspected anti-competitive behavior that caused the EU
Commission to begin investing ČEZ in the first place. According
to Jana Klímová of MFD, ČEZ is close to reaching a deal with the
Commission calling for ČEZ to sell off 800 MW of its electricity-
generation capacity to avoid a fine in the tens of billions of
crowns for inhibiting competition. What do Czech taxpayers get
out of this? After all, they were the ones who suffered from the
alleged anti-competitive behavior. Do they get a rebate on the
amount they overpaid to the monopoly abuser in the form of
higher energy prices? No. Do they see heads roll at the monopoly
abuser? No. Do they get a duopoly abuser once ČEZ arranges to
sell capacity to PPF's EPH? Yes. It seems even the Commission is
now working for Petr Kellner.[Czech Republic MF Dnes antitrust anti-trust EP Holding]
Glossary of difficult words
to inhibit - to hinder, restrain or prevent (an action or process);
rebate - a partial refund to someone who has paid too much money for tax, rent or a utility;
heads (will) roll - people are (will be) dismissed or forced to resign.