The Russian competition authority Federal Antimonopoly Service of the Russian Federation (FAS), found that PJSC TGC-2, JSC Arhoblenergo and LLC TEC restricted competition by colluding in coal procurement tenders for thermal power plants.
FAS examined purchasing conditions for coal supply in 2017-2018 and found agreements restricting competition between the bidders. These agreements amounted to a total contract value of more than 1.5 billion rubles and aimed to stabilize auction prices as well as to create preferential conditions for participation in the auction for LLC TEC, which has signs of affiliation with the bidders.
As a result, FAS announced that companies would be fined and that behaviours constitutes crime within the scope of criminal act that would be referred to the relevant authorities.
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NAZALI TAX & LEGAL |