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Rotterdam+ case: NABU raids energy committee
21:24, 17 August 2017
Rotterdam+ case: NABU raids energy committee

The pre-trial investigation found that the head and the members of the NKREKP created all the necessary conditions for the electric energy sales price growth to the wholesale market

21:24, 17 August 2017

Open source

Ukraine’s National Anti-Corruption Bureau (NABU) conducts searches at the National Commission for state regulation in the energy and utilities (NKREKP) on Thursday, August 17. The employees of the state regulating commission reported that on an anonymous basis from the scene, Interfax-Ukraine reported.

Taking into account the searches, today’s NKREKP meeting scheduled for 2 p.m. was adjourned for an indefinite period.

The press service of the regulating committee does not comment on the searches by NABU.

Related: Coal production officials busted for embezzling 135,000 USD

As it was reported earlier, NKREKP members are suspected by NABU in collusion with generation companies for their benefit while when adopting Rotterdam+ formula.

As it was reported, NKREKP approved the market calculation procedure for electricity wholesale prices. The methodology is based on the European coal price index. According to Dmytro Vovk, the head of the National Commission for state regulation, the boundary price for coal should be based on the price which is shaped in the result of the regular trading in Rotterdam stock exchange (Netherlands) including the transportation costs to the internal market (the so-called Rotterdam+ formula).

 

Related: 700,000 tons of US coal to be delivered to Ukraine this year

The criminal case on the Rotterdam+ scheme was registered in the National Register of Pre-Trial Investigations on March 24, 2017 and qualified as power abuse.

 The pre-trial investigation found that the head and the members of the NKREKP created all the necessary conditions for the electric energy sales price growth to the wholesale market. They abused their authority acting contrary to the interests of the committee in favor of the generating companies. Allegedly they included the wittingly groundless formula into the calculation procedure of wholesale pricing with the aim to arrange the conditions for excess profits for the TES Generating Company.

Related: DTEK boosts coal production at remaining mines

 

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