OREANDA-NEWS. November 28, 2012. Moscow Arbitration Court upheld the decision and determination of the Federal Antimonopoly Service (FAS Russia) that “Mosenergo” OJSC violated Clause 11 Part 1 Article 10 of the Federal Law “On Protection of Competition” in the part of manipulating prices on the wholesale market of eclectic power (capacity), reported the press-centre of FAS Russia.

“Mosenergo” OJSC manipulated prices on the wholesale market of eclectic power (capacity), filing unreasonably high price bids for sale of eclectic power (capacity).

The company filed “day ahead” price bids for electric power stations that exceeded the previous bids on average by 70%. As a result of such actions market prices for electric power changed considerably.

“Mosenergo” OJSC disagreed with the decision and determination of FAS Russia and filed a lawsuit. The Court, in its turn, supported the FAS position.

“Violations in the form of price manipulations bring maximally disadvantageous consequences because they affect prices on electric power markets in general”, said Deputy Head of FAS Department for Control over Electric Power Industry, Elena Tsyshevskaya.