EnBW Probed on Suspicion It Abused Market Position to Hike Price

German authorities are probing EnBW Energie Baden-Wuerttemberg AG over whether the utility abused its position in the power market in 2021 to hike electricity prices.

Police, the Federal Cartel Office and the Mannheim prosecutor’s office raided EnBW’s offices on Jan. 25, the cartel office and the utility confirmed on Monday. Investigators wanted to determine whether EnBW had at times abused its dominant market position to sell power at improperly high prices, the cartel office said in a statement.

EnBW is “confident that the allegations made will not be confirmed,” a spokeswoman said in a statement. The probe was based on ...