OREANDA-NEWS. October 19, 2012. The Ministry of Justice of the Russian Regulations registered the Administrative Regulations of the Federal Antimonopoly Service (FAS Russia) for control over participants of the wholesale and retail markets in the part of establishing incidents of manipulation prices for electric power on the wholesale and retail markets of electric power, reported the press-centre of FAS Russia.

The Regulations determine the timeframe and sequences of actions (administrative procedures) of FAS Russia, its regional offices and their structural units. The Regulations also establish the procedures for cooperation of FAS Russia and its regional offices with physical and legal persons, other authorities and local self-government bodies for control over participants of the wholesale and retail markets. The latter relates to establishing incidents of manipulating prices for electric power on the wholesale and retail markets of electric power (capacity).

“Adopting the Administrative Regulations is aimed at regularizing the administrative procedures for control over actions exercised by participants of the markets of electric power (capacity) and shall increase transparency of the state function assigned to FAS Russia”, pointed out Deputy Head of FAS Department for Control over Electric Power Industry, Vitaly Korolyov.

The Administrative Regulations comes into force within ten days after its official publishing.