The results of control over compliance with the Information Disclosure Standards by participates of wholesale and retail electric power markets

The Federal Antimonopoly Service and its regional bodies are responsible for exercising control over compliance with the Information Disclosure Standards by participates of the wholesale and retail electric power markets (Clause 5.3.1.7. of the Regulations on the Federal Antimonopoly Service approved by No. 331 Decree of the Government of the Russian Federation of 30 June 2004).

FAS has summed up the results of monitoring the number of cases initiated upon improper information disclosure:  

In 2015 FAS opened 62 administrative cases against officials; 89 cases against legal entities on administrative violations; and imposed the total fines for 7,991,000 RUB.

In comparison with 2014 the number of violations and fines for failure to comply with the Information Disclosure Standards went down.

It was achieved due to new regulatory acts that approved the forms of disclosing information by the Market Council, companies operating commercial and technological infrastructure of the wholesale market of electric power (capacity), power suppliers and territorial grid companies (on 17 February 2015 came into force No. 631/14 FAS Order of 8 October 2014 and 17 September 2015 the Prime-Minister Dmitry Medvedev signed No. 987 Decree).

“Presentation uniformity of disclosed information eliminates disagreements between market participants and consumers, reduces the number of violations in the electric power industry and helps develop public control mechanisms in the system of tariff regulation of the work of power suppliers”, pointed out Deputy Head of FAS Vitaly Korolyov.

Reference:
Under Article 9.15 of the Code of the Russian Federation on Administrative Violations, failure to disclose information is punishable by an administrative fine upon officials - from 20,000 RUB to 30,000 RUB; and upon legal entities from 200,000 RUB to 500,000 RUB.