OREANDA-NEWS. July 22, 2013. The Federal Arbitration Court of Moscow District supported the judgment of Moscow Arbitration Court and the ruling of the 9th Arbitration Appeal Court upholding the decision and determination of the Federal Antimonopoly Service (FAS Russia) that “Mosenergo” OJSC violated Part 1 Article 10 of the Federal Law “On Protection of Competition”. The company manipulated prices on the wholesale market of electric power (capacity).

Earlier the Antimonopoly Service established that in “Mosenergo” OJSC had manipulated prices on the wholesale market of electric power (capacity), unreasonably increasing price application for selling it. As a result, consumer prices for electric power increased considerably. FAS also issued a determination to “Mosenergo” OJSC to transfer over 2.5 million Rubles of illegally obtained income to the federal budget; which was executed.

“Mosenergo” OJSC disagreed with the decision and determination issued by FAS and filed a lawsuit; the Court, in its turn, supported the position taken by the competition authority.

“Price manipulation is one of the most serious violations of the antimonopoly law in the electric power industry because its consequences affect numerous market participants, including end consumers. Thus, the Antimonopoly Service pays special attention to such cases. At the moment, FAS has introduced draft Rules for antimonopoly regulation and control in the electric power industry to the Government of the Russian Federation. Hopefully, when the Rules are adopted we will be able to expose and suppress such violations of the antimonopoly law even more efficiently”, commented the Head of FAS Department for Control over Electric Power Industry, Vitaly Korolyov.