Ukraine’s Anti-Monopoly Committee  announced it was going to punish “DTEK” and several other big coal suppliers with 775,5 million fine for competition law violations.

The  Committee found that the companies had manipulated prices in 2016-2019 acting on recommendations from Energy and Coal Ministry.

According to its investigation,  Energy and Coal Ministry, for three years, had recommended higher energy price caps  for coal products  sold to thermal power plants and thermal power stations.

“It lasted for three years. It must be stressed that Energy and Coal Ministry had no authority for such price cap regulations as in Ukraine coal products are sold in market conditions,” the statement said.

Citing violations of “Economic competition protection” law,  Anti-Monopoly Committee has ruled a record 775,483,270 hryvnas fine for  the companies involved in this scheme.

Among those are “Derzhvuglepostach”, “DTEK Trading”, “DTEK Dniproenergo”, “DTEK Zakhidenergo”, “DTEK Skhidenergo”, “Tsentroenrgo”, “Chekasy Khimvolokno”.

The companies facing the fine supply 80% of coal products to Ukrainian thermal energy plants/stations and many of those cited are part of DTEK group owned by Rinat Akhmetov.

 

DTEK response

Calling the Anti-Monopoly Committee decision “unfounded” and “biased’, the DTEK stated that “the Committee .. failed to provide the company a chance to state their position and ignored several important arguments.”

“The case based their judgment on the materials the company requested and was refused to be granted access to.”

The company said that it was planning to challenge the fine in court.