Attempts oligopoly conspiracies in the new electricity market will be strictly punished – expert

Попытки олигопольних заговоров в новом рынке электроэнергии будут жестко караться - эксперт 

Any attempt oligopoly conspiracies in the new electricity market will be severely punished by the Supervisory authorities

This was written by the expert of the Ukrainian Institute for the future Andrian Precip in the material to Khvyli “Fear and loathing on the electricity market”.

“Subject to the responsible regulatory authorities any attempt oligopoly conspiracy and other manifestations of anticompetitive behavior of market players in the electricity generation will be stopped at the root, and strictly punished,” said Prokop.

He also noted that in the conditions of market, generating companies are required to report to regulatory authorities on the system of European practice REMIT (with respect to the integrity and transparency of wholesale energy market – ed.) that aims to prevent exchange of insider information between market participants and joining them to anti-market conspiracies. At the same time, fines for anti-competitive behavior of the players will reach up to 10% of annual turnover of the company.

According to Procida, one of the main tasks of the new government to ensure transparency and impartiality of the work Antimonopoles Committee and the national Commission, which will oversee the market and keep track of possible conspiracies of the participants.

“The ability to ensure the transparency and impartiality of the Antimonopoly Committee and the national Commission should be “a matter of honor” for the work of the new government. Especially given how many complaints and accusations sounded about the work of these institutions from now the current President, who has all the chances to create a strong coalition and a loyal government,” — said the expert.

Recall that the electricity market is to earn from 1 July 2019, in accordance with the Law of Ukraine “On electricity market”. The launch of the market — the obligation of Ukraine in the framework of the implementation of the EU Third energy package. This is one of the conditions of the cooperation program with the IMF and receive macrofinancial assistance from the EU.

Prime Minister Volodymyr Groysman at a government meeting on 5 June said that the electricity market will be launched on time.