The European Commission said on March 27 that it has approved, under the EU Merger Regulation, the acquisition of joint control of electricity transmission system operator RTE (Réseau de transport d’électricité), by la Caisse des dépôts et consignations (CDC), both of which are based in France.
RTE is the owner and manager of the French electricity transmission network and is currently under the exclusive control of Electricité de France (EDF).
CDC manages various interest stakes of the French state, in particular in projects of general interest.
The Commission concluded that the proposed acquisition would not give rise to competition concerns in view of the limited overlaps between the activities of EDF, CDC and RTE in the engineering services sector.
Vertical relations between the parties are also not likely to weaken competition in the production and wholesale supply of electricity, as well as in the engineering services and electrical equipment sectors, the Commission said.
The transaction was examined under the normal merger control procedure.
RTE’s transmission system optimises infrastructure management, electricity flow and electricity market efficiency.