European Competition Day, Stockholm

Erik Thedéen, Governor of the Riksbank, Sara Modig, State Secretary to Minister for Energy, Business and Industry Ebba Busch, Margrethe Vestager, Executive Vice-President and European Commissioner for Competition, and Rikard Jermsten, Director General, Swedish Competition Authority.

© Johanna Hanno, European Union Rikard Jermsten, Ola Hedin

Practical information

Date

5 May 2023

Location

Stockholm, Sweden

European Competition Day is a conference organised during each Presidency and which gathers representatives of European competition authorities, the European Commission, ministries, politicians, companies, etc. It is intended to provide an opportunity for sharing knowledge, discussions and a chance to dig deeper into issues concerning competition policy, competition enforcement and current competition practices from the courts. Stronger competition in the internal market not only benefits consumers and companies in the form of lower prices and more choice, but can also help to increase the competitiveness of European companies and increase growth.

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Livestream from the conference

Competition Policy in Times of Crisis

The theme of the European Competition Day is Competition Policy in Times of Crisis. The conference will feature three separate panels on the accelerating inflation, the supply shortages in the energy sector, and sustainability considerations in competition policy.

The introductory block consists of opening remarks by Sara Modig, State Secretary to Minister for Energy, Business and Industry Ebba Busch, and Rikard Jermsten, Director General of the Swedish Competition Authority. Keynote addresses will be given by Erik Thedéen, Governor of the Riksbank and Margrethe Vestager, Executive Vice-President and Commissioner for Competition, European Commission.

Panel 1: The Inflation Crises - How Should Competition Policy Respond

Sven-Olov Daunfeldt, Chief Economist, Confederation of Swedish Enterprise

Tina Søreide, Director General, Norwegian Competition Authority

Sweden2023.eu

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Inflation is increasing rapidly due to factors such as the pandemic and the war in Ukraine. Can effective competition help to restrain inflation, and if so, how?

The theme of the panel discussion is the importance of effective competition at a time of sharply increasing inflation due to the pandemic and the war in Ukraine. This steep rise in inflation has resulted in a number of political initiatives to mitigate the effects of the increase in household living costs.

Although most observers agree that a lack of competition is not the cause of the inflation, effective competition is nevertheless believed to be crucial to ensuring that markets are well-equipped to deal with new shocks and facilitate a future recovery. Effective competition is considered to both make markets more flexible and increase the efficacy of monetary policy.

The panellists will discuss the relationship between inflation and competition. Can price regulation be a suitable tool for slowing down rapidly rising prices? And, why is it felt that effective competition makes markets more flexible and better equipped to deal with crises? The panel will also discuss which types of political measures can damage competition.

Panellists:

Sven-Olov Daunfeldt, Chief Economist, Confederation of Swedish Enterprise

Andreas Mundt, President, Bundeskartellamt and Steering Group Chair, International Competition Network

Tina Søreide, Director General, Norwegian Competition Authority

Moderator: Ana Sofia Rodrigues, Chief Economist, Portuguese Competition Authority

Panel 2: The Energy Cost Crises - How Can Intervention Safeguard Sound Competition in the Long Run?

Henrik Sjölund, Director and Group Director, Holmen AB

Mary Starks, Partner, Flint Global

Sweden2023.eu

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The EU energy markets are being hit by inflation and supply shocks. Political initiatives have been taken at national level to mitigate the impact on consumers and businesses. How does this affect the development of the internal energy market? What are the biggest obstacles to developing such an internal market and to creating effective competition? What should supervisory authorities, politicians and the EU do?

The starting point for the panel discussion is competition in the energy markets, which, in the past year, have seen a dramatic reduction in supply. Although this reduction has primarily affected natural gas, it has also had severe consequences for electricity and other fuels. A number of political initiatives have been taken at national and EU levels to mitigate the impact on consumers and businesses. They take the form of demand-side measures, including support to households and businesses for increased electricity costs, as well as initiatives to make demand more flexible. Supply-side measures have also been introduced in the form of state subsidies and aid.

Together these measures may have fundamentally changed the energy markets. This raises a number of questions that the panel will discuss. For example, can we already conclude how competition has been affected? From a competition perspective, what are the risks associated with the measures to mitigate the negative effects on households and businesses? Can they hamper the development of the internal energy market? And, is there a risk that certain forms of support might, in the long term, damage the competitiveness of businesses and the overall market competition?

Panellists:

Dennis Hesseling, Head of Infrastructure, Gas & Retail Department, EU Agency for the Cooperation of Energy Regulators (ACER)

Henrik Sjölund, Director and Group Director, Holmen AB

Pär Holmberg, Senior Research Fellow, Research Institute of Industrial Economics

Oskar Ahnfeldt, Vice President of Public & Regulatory Affairs, Vattenfall

Moderator: Mary Starks, Partner, Flint Global

Panel 3: Including Sustainability Considerations in Competition Enforcement - Where do we stand?

Agustín Reyna, Head of Legal and Economic Affairs, BEUC

Elise Provost, Adviser to the General Rapporteur and Head of the sustainable development network, French Competition Authority

Sweden2023.eu

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What role do business and competition policy play in accelerating the green transition? What is the framework within which competing businesses should be allowed to work together to create environmental benefits? How should environmental cooperation between businesses be assessed under competition law?

The theme of the panel discussion is the business sector’s role in working to ensure a sustainable and viable environment. The starting point is that the private sector is playing an important role in the green transition. Cooperation between competing businesses and how this is viewed are particularly central to the debate.

Some observers stress the risks associated with facilitating cooperation between businesses, citing that it can restrict competition. Others take the opposite view, arguing that many environmental innovations may never be realised due to the regulatory uncertainty felt by businesses. According to this view, environmental innovations can be realised quicker and be more effective if the combined expertise of the competing companies is allowed to cooperate within a clear and well-defined framework.

The debate raises a number of questions that the panel will discuss. What roles do business and competition enforcers play in accelerating and enabling the green transition? How do we ensure that competition enforcement does not hamper businesses from cooperating on climate transition plans? How should environmental cooperation between competing businesses be assessed under competition law? A central question is how competition enforcement can distinguish between cartels and cooperation between competing businesses in a way that provides lasting environmental benefits and do not hinder competition. How should environmental effects be considered in the assessment of abuse of a dominant position, in a merger control process and in the state aid control process?

Panellists:

Pierre Régibeau, Chief Competition Economist, EU Directorate-General Competition

Ioannis Lianos, President, Hellenic Competition Commission

Agustín Reyna, Head of Legal and Economic Affairs, BEUC

Jonathan Ford, Partner in the Antitrust and Foreign Investment Group, Linklaters

Moderator: Elise Provost, Adviser to the General Rapporteur and Head of the sustainable development network, Autorité de la concurrence.

Only invited participants will attend this meeting. Parts of the programme will be livestreamed.

Contact

Karl Lundvall

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  [email protected]

Agenda

Agenda Competition Day

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Speakers

Information On Speakers

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