Tallinn Waterworks Suing Competition Authority for €90 Million ({{commentsTotal}})

Business
Business

Tallinna Vesi, the capital's privately owned water works, has taken the Competition Authority to court over the latter's restrictions to price hikes in 2011.

The authority rejected a move by the company to increase prices in 2011 and the company said the hikes would have amounted to 90 million euros by 2020, the length of the current contract. Tallinna Vesi said the damage is only 50 million euros is the authority reverses the decision now.

The head of the Competition Authority, Märt Ots, said there is no legal basis for the claim.

The initial price hike request in 2011 was rejected as the authority found the company's margins were too high and took into account unfounded expenses.



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