IS IT BAD NEWS OR GOOD NEWS FOR CONSUMERS?: A NEW DIRECTION OF THE EU COURTS’ JURISPRUDENCE ON EXCESSIVE PRICES

Consumers have to pay over-competitive prices for the goods and services they purchased due to the excessive prices charged by monopolies and dominant undertakings. Although the infringement caused a direct loss to consumers, there has been uncertainty about the definition of excessive prices, the proper way to identify excessive prices, the need for intervention by competition authorities and which markets are candidates for intervention. This article seeks address these uncertainties, considering the EU case law and relevant literature and sheds light on the excessive pricing analysis and the problems associated with this analysis. It draws attention to the fact that these uncertainties make it difficult to realise one of the goals of competition law, ie consumer welfare. Subsequently, the article looks to the change in approach of the Court of Justice of the European Union in its recent decision and the possible implications of this change for consumers