Oxera helps National Grid to achieve settlement in major cartel litigation
Multidisciplinary team of Oxera experts provide Claimant with critical support and analysis.
In 2014, the European Commission issued the Decision that 11 producers of underground and submarine high-voltage power cables had operated a cartel at various times between 1999 and 2009. The Decision identified multiple elements to the infringement, including the division between European and Asian cable manufacturers of territories around the globe, as well as the allocation of specific cables projects within the European Economic Area.
National Grid brought a £160m claim against four cartel members in relation to damages that it had suffered due to the cartel. The case has now been successfully settled with Prysmian in advance of trial before the UK Competition Appeal Tribunal, after earlier settlements were reached with NKT, ABB, and Safran.
A multidisciplinary team of Oxera experts—Dr Helen Jenkins (Partner), Robin Noble (Partner), and Professor Tim Jenkinson (Partner)—advised National Grid throughout the case, supported by Oxera Partner Joseph Bell. Oxera’s advice covered all elements of the claim, including value of commerce, overcharge, the interaction between pass-on and the regulatory regime, consequential financing costs, and the impact of taxation.
Oxera Partner Joseph Bell said:
‘This was a long running and complex Cartel case. There were three Oxera experts—Dr Helen Jenkins, Mr Robin Noble and Professor Tim Jenkinson—who were due to give evidence in the three proposed hot-tubs on overcharge, pass-on, and cost of financing respectively. The roster of experts is emblematic of the range of novel issues on the application of economics to competition law that the case posed. At a time of increasing focus on other types of competition infringement and collective claims, the case shows the continued importance of follow-on cartel litigation in the European damages landscape.’
Oxera’s leading Litigation and Arbitration Support practice continues to deliver advice to both claimants and defendants in relation to cartel infringements across Europe and beyond.
Contact: Stevie Dixon, Senior Marketing and Business Development Manager