NABU investigates officials for notorious “Rotterdam+” coal price, courts block the investigation

NABU investigates possible abuse of powers by officials of the National Commission for Regulation of Energy Sector (NCRES) in establishing coal prices using the so-called “Rotterdam+” formula in the interests of energy producers.

This price allows power generating companies to sell energy for a price as if the coal for its generation has been transported from Rotterdam, the Netherlands. As a result, customers have to pay unjustified prices for energy while power generating companies, including the ones related to Rinat Akhmetov, are receiving extra profits.

However, unreformed local court blocks the efforts of NABU already on the stage of pre-trial investigation. Solomianskyi district court refused NABU in access to bank information of two power generating companies. NABU requested this access in order to assess whether “Rotterdam+” price is economically justified.