During their investigation, the Commission found that Victron had been enforcing a policy that prevented retailers from offering discounts on their products.
This limited consumer choice and led to inflated prices, making it harder for people to access essential energy products.
While Victron has not admitted to any wrongdoing, the company has agreed to pay the settlement amount and implement a comprehensive competition law compliance programme that aims to educate employees, management, and agents about fair competition practices and ensure adherence to South African antitrust laws.
With this victory the Competition Commission is sending a strong message to other companies operating in the energy sector.
The R14.2m fine is the largest ever imposed in a minimum resale price maintenance case in South Africa, highlighting the severity of Victron's alleged misconduct.
The Competition Commission's actions are not only protecting consumers but also promoting a fair and transparent market, which is crucial for the growth and development of the energy sector in South Africa.
