Belgian gas and power grid operators to merge under Publigas-Publi-T deal

The European Commission has received prior notification of a proposed concentration that would merge the two Belgian municipal holding companies Publigas SC/CV and Publi-T SC/CV, bringing the country’s gas and electricity transmission networks under common control. The notification, received on 24 August 2026 under Article 4 of Council Regulation (EC) No 139/2004, was published in the Official Journal of the European Union (C series, C/2026/4665, of 2 September 2026) as Case M.12506 – PUBLIGAS / PUBLI-T.

The transaction is a full merger within the meaning of Article 3(1)(a) of the Merger Regulation, accomplished by way of contract or any other means. On preliminary examination the Commission finds the deal could fall within the scope of the Merger Regulation, although the final decision on that point is reserved.

The two holding companies

Publigas is a holding company that brings together the interests of Belgian municipalities and controls the Belgian gas transmission system operator Fluxys SA. Fluxys is active in natural gas transmission and storage, as well as liquefied natural gas (LNG) terminalling, both in and outside Belgium.

Publi-T is likewise a holding company of Belgian municipal interests and controls the electricity transmission system operator Elia Group SA/NV. Elia owns two electricity transmission system operators, one in Belgium and one in Germany, and also operates the subsea electricity interconnector linking Belgium to Great Britain.

Simplified procedure and next steps

The Commission notes that the case is a candidate for treatment under the simplified procedure set out in its Notice on simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004. Interested third parties are invited to submit their observations on the proposed concentration to the Commission.

• Observations must reach the Commission not later than 10 days following the date of publication.
• The reference M.12506 – PUBLIGAS / PUBLI-T must always be specified.
• Submissions may be sent by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post to the European Commission, Directorate-General for Competition, Merger Registry, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË.

Why it matters

The merger would unite under a single municipal-owned structure the operators of Belgium’s two critical energy backbones — the gas grid run by Fluxys and the electricity grid run by Elia — a landmark consolidation in European energy infrastructure. Bringing gas transmission, storage and LNG terminals together with electricity transmission and cross-border interconnectors under one umbrella could reshape how Belgium coordinates its energy networks at a time of rapid electrification and security-of-supply concerns.

Source: Official Journal of the European Union, C series, C/2026/4665, 2 September 2026, notices (official reference: C/2026/4665).