OREANDA-NEWS. April 11, 2011. The Arbitration Court of the North-Caucasus District pronounced validity of the determination issued by the Office of the Federal Antimonopoly Service in the Republic of Kabardino-Balkaria (Kabardino-Balkaria OFAS Russia) on fining “North Caucasus Inter-Regional Distribution Network Company” OJSC (“North Caucasus MRSK” OJSC) 200,000 Rubles for violating the Information Disclosure Standards, reported the press-centre of FAS Russia.

On 28th December 2009, the Commission of Kabardino-Balkaria OFAS Russia found that “North Caucasus MRSK” OJSC violated Article 9.15 of the Code of the Russian Federation on Administrative Violations and fined the company 200,000 Rubles.

“North Caucasus MRSK” OJSC violated the law because the company web-site did not contain open and accessible information that must be published by participants of the wholesale and retail markets of electric power in accordance with No.24 Decree of the Government of the Russian Federation.

Representatives of the electricity network company disagreed with the determination of the antimonopoly body about imposing the fine and filed a lawsuit. The Court of First Instance and later the 16th Arbitration Appeal Court took the side of “North Caucasus MRSK” OJSC.

However, the Cassation Arbitration Court confirmed legitimacy and reasonableness of the conclusions made by Kabardino-Balkaria OFAS Russia regarding violations of the Information Disclosure Standards by “North Caucasus MRSK” OJSC and fining the company 200,000 Rubles.

“Work experience shows that only inevitability of punishment can ensure observation of the antimonopoly rules by the subjects of law enforcement”, said the Head of Kabardino-Balkaria OFAS Russia Kazbek Pshinshev.

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According to the Information Disclosure Standards for participants of the wholesale and retail electric power markets, disclosing information - providing access of all interested person to it, regardless of the goals of obtaining such information, is mandatory for the participants electric power markets.