In line with usual practice, the Commission did not release the names of the companies concerned. "The European Commission can confirm that on October 7, officials carried out unannounced inspections at the premises of companies active in the production, distribution and trading of ethanol, a biofuel," it said in a statement.
The raids took place in two European countries on companies suspected of rigging price benchmarks through false submissions to a price regulation authority that governs the biofuel market. "Even small distortions may have a significant impact on prices, potentially harming consumers," the statement said.
Commission officials involved in the raids were accompanied by their counterparts from the relevant national competition authorities, it added. An earlier investigation, launched in May 2013, had included raids on energy giants BP, Shell and Norway's Statoil. Biofuels, based on plant or food crops, are a key part of EU strategy to boost environment friendly energy resources, especially for transport.