The authors analyze the judgment of the European Court of Justice in the Post Danmark case, and discuss its implications. According to the authors, the ECJ’s judgment in Post Danmark suggests a more rigorous application of Article 102 TFEU to exclusionary pricing practices by dominant firms. It clarifies that the core criterion by which to judge exclusionary conduct under Article 102 is its actual or likely effect on competition, and thereby on consumers. And it suggests that the ECJ is embracing fundamental concepts advocated in the Commission’s Guidance Paper on exclusionary conduct under Article 102. The greater alignment of law and policy contributes to enhanced legal certainty.