OREANDA-NEWS. June 15, 2011. The Federal Antimonopoly Service (FAS Russia) fined “Marienergosbyt” OJSC 13 million Rubles for violating pricing procedures and manipulating prices on retail market of electric power.

The fine was imposed after on 8th December 2010 the FAS Russia’s Commission had found that “Marienergosbyt” OJSC violated Part 1 Article 10 of the Federal Law “On Protection of Competition” that prohibits economic entities to violate dominant position. The company abused its market dominance by breaching the pricing procedures established by normative legal acts and manipulating prices on retail market of electric power when calculating the threshold levels of free (non-regulated) prices for electric power (capacity) при расчетах с customers in 2010. “Marienergosbyt” OJSC was issued a determination to stop violating the antimonopoly law.

“The consequence of the antimonopoly violations considerable increase of consumer charges for electric power. One of the FAS Russia’s priority is to suppress such violations, particular executing the decision of the Government of the Russian Federation to constrain increase of payments for electric power for end-customers”, explained the Head of the FAS Russia’s Department for Control over Electric Power Industry, Vitaly Korolyov.