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Jurisdiction(s):
United Kingdom
Key definition
COMP definition

What does COMP mean? In pensions practice, COMP refers to a contracted-out money purchase occupational pension scheme that enabled members to contract out of SERPS/State Second Pension and build defined contribution benefits in the scheme. The expression is widely used by practitioners; “contracted-out money purchase scheme” was provided for in legislation, including the Pension Schemes Act 1993 (and the Pension Schemes (Northern Ireland) Act 1993) and the Contracting-out (money Purchase) Regulations 1997. Key features included: a contracting-out certificate; National Insurance rebates paid by HMRC/NICO into members’ pots (rather than reduced NI rates); benefits classified as protected rights with special rules on investment, survivor...

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European Commission Article 102 TFEU abuse of dominance decision (COMP/39.984): OPCOM/Transelectrica fined €1.031 million for VAT-based discrimination on Romanian power exchange (5 March 2014)

Practice notes
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CASE HUB ARCHIVED

This archived case hub captures the position as at the decision date of 5 March 2013 and is no longer updated. See the timeline and related cases for more detail.

Case facts Outline

European Commission investigation under Article 102 TFEU into OPCOM/the Romanian power exchange (case COMP/39.984). The Commission adopted its Infringement decision on 05/03/2014, imposing a €1.031m fine.

Latest developments

On 5 March 2014, the Commission delivered its infringement decision and fined OPCOM and Transelectrica €1.031m, with the two companies held jointly liable.

Parties

OPCOM and Transelectrica. OPCOM operates Romania’s only power exchange and is 100% owned by Transelectrica. Transelectrica is the operator of the Romanian electricity transmission system.

Market(s)

Electricity trading on the Romanian wholesale market, namely operation of the power exchange and the facilitation of spot electricity trading in Romania...

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Web page updated on 21/05/2026

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