Brussels, 1 August 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Telge Energi AB by Fortum Markets AB, both of Sweden.
Telge Energi is part of the Swedish Telge group, currently owned by the Swedish municipality of Södertälje. It is active in the retail sale of electricity generated from renewable sources to households and to small industrial and commercial customers. Fortum Markets is part of the Finnish-based energy group Fortum, solely controlled by the Finnish State. It is active in power generation, in the retail sale of energy to consumers and companies, and in the circular solutions business. The activities of Telge Energi and Fortum Markets overlap in the retail sale of electricity to households and to small industrial and commercial customers.
The Commission concluded that the proposed acquisition would raise no competition concerns, given its limited impact on the markets concerned. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11202.
Source – EU Commission