The Antimonopoly Committee stated that some participants in the thermal coal market, following the recommendation of the Ministry of Energy and Coal Industry, synchronously increased prices between 2016 and 2019. This was stated in a statement on Online AMCU
During the Committee's investigation, it was established that the Ministry recommended that state-owned enterprises increase the maximum price for certain coal products for thermal power plants and combined heat and power plants to an appropriate level. This is confirmed by the minutes of meetings on setting the maximum coal price. Representatives of private companies—suppliers and consumers of thermal coal—were also present at the meetings.
"The business entities participating in the meetings supplied more than 80% of all thermal coal used by thermal power plants (TPPs) and combined heat and power plants (CHPs). Also present at these meetings were electricity producers (TPPs and CHPs), which consume more than 95% of all thermal coal used by this industry.
After some time, the defendants indicated in their agreements prices for thermal coal supplies similar to those determined at Ministry meetings. This situation continued for almost three years. We emphasize that in this case, the Ministry of Energy and Coal Industry had no authority to recommend price caps. After all, thermal coal is sold in Ukraine under market conditions," the AMCU statement reads.
In this regard, the AMCU issued a decision recognizing the Ministry of Energy's violation, which consisted of creating conditions for participants in the energy coal market to commit anticompetitive concerted actions.
"In another case involving individual participants in the aforementioned market, it was found, in particular, that the price dynamics of coal suppliers—DTEK Trading LLC and Derzhvuglepostach State Enterprise—corresponded to the marginal price dynamics. Meanwhile, there were no objective reasons for the simultaneous and uniform price changes in the thermal coal market.
An analysis of the average weighted base prices also shows that in the period from August 2016 to June 2019, DTEK Dniproenergo JSC, DTEK Zapadenergo JSC, DTEK Vostokenergo LLC, Cherkasy Khimvolokno CJSC, and Centrenergo PJSC purchased thermal coal at base prices similar to the maximum prices determined at meetings at the Ministry of Energy and Coal Industry.
"The correlation coefficients demonstrate a clear link between the defendants' price trajectories and the prices recommended by the Ministry. The dynamics of the base prices for coal purchased by these companies also correspond to the dynamics of the maximum prices set by the Ministry of Energy and Coal Industry," the AMCU notes.
In this regard, the AMCU imposed the following fines in the amount of UAH 775,483,270:
SE "Derzhvuglepostach" - 2286480 UAH.
DTEK Trading LLC — UAH 163,448,330.
JSC DTEK Dniproenergo — UAH 125,473,390.
JSC DTEK Zapadenergo — UAH 172,969,760.
LLC "DTEK Vostokenergo" - 91050330 UAH.
PJSC Centrenergo — UAH 205,837,530.
Cherkasy Chemical Fiber JSC — 14417450 UAH.
Ранее Skelet.Org reported that The Supreme Court of Ukraine sided with British American Tobacco in the case regarding the AMCU fine.
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