On Friday, June 14, Ukraine’s constitutional court declared illegal the establishment of the National Commission, carrying out state regulation in spheres of power and utilities (NKREKU)
As you know, the Commission was created on August 27, 2014 ex-President of Petro Poroshenko.
According to the decision published on the website of the court, unconstitutional several provisions of the law “On the National Commission exercising the state regulation in the spheres of energy and communal services”.
In addition, the CCU declared unconstitutional the creation of the national Commission Petro Poroshenko.
According to Xu, the creation of this body, the President exceeded his constitutional powers, as the powers of the head of state exhaustively defined by the Constitution, which stipulates the President’s right to form such bodies.
The court also found that the legal status of the national Commission is unconstitutional.
With a request to check the legality of that body addressed to the KSU 46 deputies.
His dubious popularity NKREKU received after the development and implementation of the so-called formula “Rotterdam+” and the new tariffs, which negatively affected not only society, but the government, forced to pay billions in subsidies.
Their offspring NKREKU — Rotterdam+ allowed shes rich famous Ukrainian oligarch. A key beneficiary of Rotterdam+ is owned by billionaire Rinat Akhmetov DTEK. The formula has enabled DTEK to charge higher prices for electric energy sold to the Energy market, which in turn has led to higher prices for consumers. In fact, DTEK uses its own coal, the cost of production which is significantly lower than the price of gas at the Rotterdam formula. The resulting margins enabled the structure Akhmetov to increase revenues by 20%.
Meanwhile, the securities of DTEK after the entry into force of the Rotterdam+ has risen strongly. As suggested by the market participants, the buyer had insider information, he acquired Eurobonds and debts of the company Akhmetov par value of us $ 500 million in just over $ 200 million Then these securities rose in price up to $ 450 million, a rise from 40% to 90% of their nominal value. In the end, the net gain on this transaction amounted to 50 percentage points.
We will remind, the national Commission has identified the mechanism of functioning of renewable energy in the new market conditions.
We also wrote that the Ministry of energy prepares to launch a new electricity market.
Even politeka reported about new subsidies for Ukrainians.