ACCC takes action on alleged gas cartel

The Australian Competition & Consumer Commission has instituted proceedings against Supagas NSW and Speed-E-Gas in the first cartel case since Amcor/Visy.

The competition watchdog alleges that between 2006 and 2011, Speed-E-Gas (an Origin Energy subsidiary) and Supagas (owned by Renegade Gas) agreed to not compete with each other in supplying LPG for forklifts.

The Australian states that the two combined are worth 75% of the market (worth $100 million) that they operate in in Sydney.

The premises of both companies were raided by the ACCC last year, and a directions hearing will take place in the Federal Court in Sydney on September 20, according to a statement to the ASX .