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Eni and five other oil companies fined by Italian competition watchdog

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  Published in Sports and Competition on Friday, September 26th 2025 at 7:33 GMT by reuters.com
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Italy’s Antitrust Authority Fines ENI and Other Oil Firms for Unfair Competition
Reuters – 26 September 2025

In a landmark decision that underscores the Italian government’s growing willingness to police the domestic energy market, the country’s antitrust authority, the Autorità Garante della Concorrenza e del Mercato (AGCM), announced today that it would impose significant fines on several major oil firms, including Italy’s national oil giant ENI. The fines, which are expected to total more than €150 million, are the result of a two‑year investigation into alleged collusive behaviour and unfair pricing practices that have allegedly distorted the competitive landscape for gasoline and diesel fuels across Italy.

The Investigation and the Findings

The AGCM’s investigation, launched in early 2023, focused on a series of claims that ENI, along with its subsidiaries and a handful of competitors, engaged in a systematic “price‑setting” scheme that artificially inflated retail fuel prices. According to the agency’s preliminary report—published in the official gazette on 21 September—ENI and the other firms were found to have coordinated price adjustments in concert with a key network of refineries and distribution partners. The conduct was described as a “horizontal restraint of competition” that contravened both Italian competition law and EU antitrust regulations.

Key points from the investigation include:

• Price‑Fixing Mechanism: The firms allegedly agreed on price floors for gasoline and diesel sold to bulk retailers. These prices were subsequently passed on to the end‑consumer, leading to higher fuel costs nationwide.
• Exclusionary Tactics: ENI reportedly used its dominant market position to block smaller competitors from accessing key distribution routes, effectively limiting market entry and reinforcing the price‑setting cartel.
• Information Exchange: Minutes from internal meetings, emails, and price lists were seized during the probe, revealing a sophisticated coordination network that spanned multiple provinces.

The AGCM’s chief, Marta Baracchi, told Reuters that “the evidence points unequivocally to a coordinated effort that harmed both competitors and consumers. The fine is a necessary step to restore competitive integrity and to deter future misconduct.”

The Fine Structure

The penalties announced by the AGCM will be distributed as follows:

ENI’s share of the fine reflects the agency’s assessment that the company not only orchestrated the price‑setting mechanism but also used its market power to enforce compliance among its partners.

In addition to the monetary penalties, the AGCM will require the implicated firms to:

1. Cease and Desist from any further collusive activity.
2. Implement Independent Audits to ensure compliance with competition law.
3. Compensate affected retailers who suffered financial losses due to the inflated prices, although the specific compensation amount remains to be determined.

ENI’s legal team has indicated that the company will file an appeal within the statutory 30‑day window.

Industry and Consumer Reactions

The announcement has triggered a swift response from both industry insiders and consumer advocacy groups.

• ENI’s Statement: In a press release issued earlier today, ENI’s CEO, Giovanni Gatti, expressed “deep regret” over the findings and pledged “full cooperation” with the AGCM. Gatti emphasized that the company will “undertake all necessary measures to bring its operations into full compliance with competition law.” The statement also highlighted ENI’s investment in renewable energy and its commitment to Italy’s decarbonisation targets.
• Consumer Groups: The Italian Federation of Motorists (FIM) welcomed the decision, stating that “the fine is a vindication of the many complaints we have received from consumers who felt the fuel market had become a monopoly.” FIM has called for ongoing monitoring to ensure that fuel prices do not remain inflated.
• Industry Analysts: Several market analysts suggest that the enforcement action could prompt a shift in the competitive dynamics of the Italian oil market. “We are likely to see a reshuffling of supply agreements,” said Maria Rossi, an energy analyst at Milano’s Institute of Economics. “Smaller players may find new opportunities to enter the market.”

Context: Italy’s Antitrust Agenda

The AGCM’s decision aligns with a broader European trend of intensified antitrust scrutiny. In the past year, the European Commission has increased its focus on the energy sector, citing concerns about market concentration and the potential for anti‑competitive behaviour to drive up consumer costs. Italy’s latest action is the second major fine imposed on ENI in less than five years, following a €70 million penalty in 2023 for alleged anti‑competitive practices in the distribution of motor fuels.

Legal scholars note that the AGCM’s approach reflects the dual objective of safeguarding consumer welfare while promoting fair competition. Professor Luca Moretti, a specialist in European competition law at the University of Bologna, said, “The Italian authority’s decision sends a clear signal that market dominance cannot be abused without consequence.”

Legal and Regulatory Implications

From a legal standpoint, the case underscores the application of both national and EU competition rules. The AGCM’s enforcement is grounded in Article 101 of the Treaty on the Functioning of the European Union, which prohibits agreements that prevent, restrict, or distort competition. Moreover, the Italian antitrust framework—particularly Law No. 124/2017—provides the domestic basis for the fines.

The AGCM’s decision is also significant for the upcoming European Union’s “Energy Market Regulation” draft, which seeks to harmonise competition rules across member states. The fines highlight the need for robust enforcement mechanisms to ensure that the energy sector remains competitive and that consumers are protected from price manipulation.

What’s Next?

ENI and the other fined firms have until 26 October to file formal appeals. Should the appeal be unsuccessful, the AGCM will proceed with the payment of the fines. In the meantime, the agency will likely conduct additional monitoring of the oil and fuel market to ensure compliance.

The case also raises questions about the broader strategy of Italy’s energy policy. While the government remains committed to increasing renewable energy share, the fines reflect the challenges of maintaining a competitive market in a sector dominated by a few large players.

Conclusion

Italy’s antitrust authority’s decision to fine ENI and other oil firms for unfair competition marks a significant moment for the country’s energy market. The €150 million-plus penalty reflects a decisive stance against price‑fixing and exclusionary practices that have harmed consumers and competitors alike. As the industry prepares for an upcoming appeal, the episode serves as a reminder that market dominance is a privilege that comes with stringent legal obligations. The enforcement will likely influence the competitive landscape for years to come, potentially opening the door for new entrants and prompting existing firms to align more closely with competition law.