Formula better than manual definition of the price – Poroshenko praised the “Rotterdam+”

Формула лучше, чем ручное определение цены, – Порошенко оценил "Роттердам+"

The former President of Ukraine Petro Poroshenko in an interview with channel 5 said that immediately after the abolition of the “Rotterdam” price for electricity has increased. Accordingly, the formula is not overstated, and understated the price of electricity for consumers

This was reported by Ukrainian news.

“Now that we see that cancelled Rotterdam (1 July 2019 – ed.) and it turns out that if the price was too high and if there is a market principle of pricing, on the 10 or 15 percent, price should fall. After the abolition of the “Rotterdam” price increased”, — said Poroshenko.

The former President believes that the introduction of formula-based pricing for steam coal has had undeniable advantages in comparison with the previous practice of manual price controls, created the space for corruption.

“Before that, there was no formula and established manual control. And I think that any formula is better than the manual and opaque pricing,” — said the former head of state.

March 3, 2016 the national Commission for regulating the electricity markets and utilities (NKREKU) approved the methodology for determining the wholesale market price for electricity. The cost of coal in electricity production were linked to the API2 index coal in the largest European port of Rotterdam.

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The same techniques operate in the field of gas pricing (“düsseldorf+”) nuclear fuel to NNEGC “Energoatom” (“Zurich+”). In relation to the European price indexes is the price of oil.

Saving for domestic and industrial consumers due to the formula amounted to 40 billion UAH through the introduction of maximum prices of coal in the tariff structure for electricity, said the Chairman NKREKU Oksana Krivenko. The Chairman of the all-Ukrainian energy Assembly Ivan Plachkov suggested that the introduction of the “Rotterdam plus” helped avoid rolling blackouts in the country and hand control of coal prices.

The formula “Rotterdam+” has repeatedly criticized the oligarch Igor Kolomoisky, because after the introduction of this technique controlled Ferroalloy enterprises could not rely on preferential spezzini for electricity.

8 August 2019, the NEB announced on suspicion six persons, in particular, the former head of the national Commission Dmitry Vovk.

In turn, Dmitry Vovk accused Kolomoisky of the organization of corruption schemes around the state generating company “Centrenergo”. Supposedly in July the state-owned company has changed management, and the companies of the group “Privat” has established the supply of Russian coal at inflated prices. Buying coal is 40% more expensive than the “Rotterdam+”, “Centrenergo” is now selling generated electricity much cheaper than the cost of direct contracts in the Ferroalloy factories of the Privat group. As a result of this scheme, the state company carries billions in losses.