OREANDA-NEWS. March 18, 2011. The Federal Antimonopoly Service (FAS Russia) granted a petition on acquiring over 75 % voting shares of “OGK-3” OJSC, reported the press-centre of FAS Russia.

As the transaction can strengthen the dominant position of the group of persons of “INTER RAO UES” CJSC in the “Ural” Free Power Transfer Zone to 29.7 %, FAS issued a determination to the company to sell within three years the facilities that are directly used for generating electric power (capacity), included in power-generating assets that belong to the group of persons of “INTER RAO Capital” CJSC and function within the “Ural” Free Power Transfer Zone, and the installed capacity of which in total is no less that 883 MW.

Until the assets are sold the company must file price-accepting applications for production volume of electric power at no less than 70 % of the volume of maximum (working) capacity of power-generating facilities located in the First price zone.

Filing price applications for competitive selection on the day-ahead market and balancing market of the wholesale market of electric power (capacity) in the First price zone (the zone of Europe and the Urals), the companies must use such strategies that dp not allow actions that lead (can lead) to considerable increase of prices on wholesale market of electric power and capacity.

On 15th March 2011, FAS Russia granted petitions of “INTER RAO UES” CJSC on acquiring 27.25 % voting shares of “Bashkirenergo” OJSC, 26.08 % voting shares of “TGK-6” OJSC and 32.21 % voting shares of “Volzhskaya Territorialnaya Generiruyuschaya Komapnia”OJSC and issued a mandatory determination to decrease the scope of property rights below 25% shares of the above entities within six months after the transaction.

Within four years after the date of the transaction, the company must terminate the property rights for the above blocks of shares in full.

The transactions are granted subject to “Rosenergoatom” Concern” OJSC withdrawing from the group of “INTER RAO UES” CJSC within four months after the transactions.

“Structural and conduct conditions set when granting the petitions will constrain the market power of the group of persons of “INTER RAO UES” CJSC upon acquiring the assents. The FAS Russia’s determination also specifies measures aimed at curbing the growth of electric power prices: a requirement to use the cheapest technologically possible fuel and take this circumstance into account in price applications for sale of electric power on the wholesale market”, said the Head of the FAS Russia’s Department for Control of Electric Power Industry, Vitaly Korolyov.