The Competition Authority's Annual Report for 2024 is now available. The report contains detailed information on the year 2024 in figures, the supervisory authority's priorities, individual investigations, guidance and recommendations to the public sector, along with rulings from the Competition Appeals Board and the courts during the year.
The report also includes an overview of court rulings and administrative fines since the introduction of the competition law, along with an assessment of the state of the competition authority and competition legislation. The report also provides an overview of international cooperation and cooperation with key institutions in the country. The annual report of the Authority is also published.
Number of cases to be resolved
In 2024, the Competition Authority handled over 120 administrative cases and concluded investigations into nearly 70 of them. In parallel, the Authority dealt with numerous other tasks, including around 40 requests for opinions from the Althingi and other government bodies.
Public and business leaders' attitudes towards competition assessed
„During the year, the Competition Authority published the results of two surveys on the attitudes of, on the one hand, the general public and, on the other, business executives towards competition issues. The results show that the public in this country has a strong understanding of the importance of effective competition. A comparison with a similar survey in the countries of the European Union shows more positive attitudes towards competition here than is common in Europe.
Furthermore, the findings show that competition law and its application have a significant impact on the decisions of company managers.“ From the foreword by Páll Gunnar Pálsson, CEO.
A tight budget hampers implementation.
„In recent years, the Competition Authority's funding has decreased in real terms, and its staff numbers are now similar to those projected shortly after its establishment in 2005 (23 staff members). This tight budget has led to the Competition Authority having to apply targeted prioritisation to its work and even drop cases or refuse to act on companies' complaints.
Furthermore, the supervisory authority has striven to increase efficiency, and is also working on the implementation of an electronic communication portal and technological solutions for the systematic monitoring of management and ownership relationships. However, the Competition Authority cannot fulfil its statutory role unless it receives the necessary support. Only in this way can the government's objective of a strong competition authority be achieved.“ From the address of Sveinn Agnarsson, Chairman of the Board.
The full report is available on the Competition Authority's website.
Further information is provided by:
Páll Gunnar Pálsson, Director-General of the Competition Authority – Telephone: 585 0700
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