Simon Bowers
Monday February 25 2008
The Office of Fair Trading imposed a £116m fine on a number of supermarket groups and dairy companies, including Asda, Sainsbury and Dairy Crest.
Sainsbury’s fine was £40m but that was reduced to £26m because of the company’s co-operation with investigators.
September 2007: Southern Water was hit with a £20.3m penalty – Ofwat’s biggest ever – for misreporting and poor service over several years. The Serious Fraud Office dropped an investigation into Southern Water in April after finding insufficient evidence to bring criminal charges.
September 2007: Thames Water was fined £12.5m for supplying inaccurate information and providing a poor service to customers. It claimed that the penalty would have a detrimental effect on its customers, as money that could have been spent improving service would instead go to the Treasury.
August 2007: BA fined £121.5m by the OFT for involvement in the fixing of long-haul fuel surcharges
July 2007: Cadbury Schweppes fined £1m over salmonella outbreak that gave 42 people food poisoning and put three of them in hospital.
April 2007: United Utilities was fined £8.5m by Ofwat for paying inflated prices to its sister companies. By increasing its costs in this manner, the company was able to argue that customer bills should be higher.
2005: Shell fined £17m by the Financial Services Authority after overstating its oil reserves by 25%. The episode was described by the regulator as “unprecedented misconduct”.
2003: Seven companies, including Manchester United, JJB Sports, Umbro and the Football Association, were fined more than £16m by the OFT for price fixing.
http://www.guardian.co.uk/business/2008/feb/25/utilities.nationalgrid
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