Brussels, 11/12/2012 (Agence Europe) - On 11 December, the European Commission opened formal antitrust proceedings against OPCOM and Transelectrica to investigate whether the operator of the only power exchange in Romania may be abusing its dominant position. The Commission has concerns that OPCOM may be discriminating against companies on the basis of their nationality or place of establishment through OPCOM's requirement that all participants on the spot markets on the power exchange hold a Romanian VAT registration and consequently are established in Romania. This business practice may increase the cost for foreign traders to do business on the power exchange and deter foreign traders from entering the Romanian electricity wholesale market, thereby reducing market liquidity and efficiency. Power exchanges are crucial for the transparent and reliable formation of electricity prices. They provide a public price index which can be used for the whole power market. (FG/transl.fl)