OREANDA-NEWS. November 16, 2011. Within its scope of reference, the Federal Antimonopoly Service (FAS Russia) controls how participants of wholesale and retail markets of electric power comply with the information disclosure standards in accord with No.24 Decree of the Government of the Russia Federation of 21st January 2004, reported the press-centre of FAS Russia.

In August 2011, regional FAS offices sent an enquiry to the Central Office of the antimonopoly authority regarding information about participants of electric power markets that are held administratively liable for failure to comply with the Information Disclosure Standards, approved in 2010-2011 – by the end of Q3 2011.

Under Clause 2 of the Information Disclosure Standards participants of electric power markets must disclose information according to the Information Disclosure Standards.

According to the information from regional FAS offices, in 2010 – Q3 2011 they initiated 327 administrative cases under Article 9.15 of the Code of the Russian Federation on Administrative Violations (breaching information disclosure standards by participants of wholesale market of electric power and capacity and retail markets of electric power):

165 cases regarding officials;

162 cases regarding legal entities;

219 cases were not challenged at courts of law (fines are paid to the full);

108 cases –lawsuits filed, of which 54 determinations on holding the violators administratively liable were reversed by the Court on the grounds specified in Article 2.9 of the Code of the Russian Federation on Administrative Violations (not important violations).

In 2010 – Q3 2011 regional FAS offices imposed fines for the overall amount 33,934,000 Rubles, of which 16,505,000 Rubles are already paid.

“The efforts of FAS and its regional offices for control how participants of wholesale market of electric power and capacity and retail markets of electric power comply with the Information Disclosure Standards increase transparency of economic activities. The Information Disclosure Standards constitute an important element for providing non-discriminatory access to the services of natural monopolies and dominant market participants”, pointed out the Head of FAS Department for Control over Electric Power Industry, Mr. Vitaly Korolyov.