OREANDA-NEWS.  July 17, 2012. The Federal Antimonopoly Service (FAS Russia) fined “Mosenergosbyt” OJSC 300,000 Rubles. The company was fined under Part 2.3 Article 19.5 of the Code on Administrative Violations of the Russian Federation, reported the press-centre of FAS Russia.

Earlier, approving a transaction for “INTER RAO UES” OJSC acquiring voting actions of “Mosenergosbyt” OJSC, FAS issued a determination to the group of persons of “INTER RAO UES” OJSC to exclude manipulations on the wholesale market of electric power and capacity. One of the clauses of the determination prohibits overstating consumption of “Mosenergosbyt” OJSC with regard to a delivery point (group of points) by over 3 %. The restriction is applicable to actual consumption volumes on a date, for which a bid is filed for taking part in competitive outtake on a day-ahead market or a balancing market (the wholesale market of electric power and capacity).

In 2011 and Q1 2012 the company systematically violated this Clause of the FAS determination. Thus, FAS opened an administrative case against “Mosenergosbyt” OJSC. The Antimonopoly Service applied the minimum punishment against the unfair market participant specified in Part 2.3 Article 19.5 of the Code on Administrative Violations: the company was fined 300,000 Rubles.

“The purpose of the requirement set in the determination is to exclude incidents of concerted actions between energy suppliers and generating companies, which are members of the group of persons of “INTER RAO UES” OJSC, aimed at price manipulations on the wholesale markets of electric power (capacity). It must be strictly observed to avoid unjustified increase of electric power prices for consumers”, pointed out the Head of FAS Department for Control over Electric Power Industry, Vitaly Korolyov.