168 million for “light on credit”: how the scheme with imbalances worked in the electricity market
29 December 14:54
A scheme to illegally seize electricity without actually paying for it has been uncovered in Ukraine, which resulted in losses of more than UAH 168 million to the state transmission system operator, NPC Ukrenergo.
Three participants in the scheme were served with a notice of suspicion. This was stated in the Office of the Prosecutor General, "Komersant Ukrainian" reports
Who is suspected
According to the investigation, the defendants in the case are:
- director of a private commercial enterprise;
- a former director of an electricity supply company;
- a responsible official of PJSC NPC Ukrenergo.
The first two are accused of misappropriation of funds in especially large amounts (Part 5 of Article 191 of the Criminal Code of Ukraine).
The Ukrenergo official is charged with abuse of office to obtain an unlawful benefit for another legal entity (Part 2 of Article 364 of the Criminal Code of Ukraine).
According to the investigation, how the scheme worked
Investigators believe that officials of the industrial enterprise initiated the conclusion of an electricity supply agreement with a controlled supplier, without intending to pay for the actual volumes consumed.
At the same time, according to law enforcement, the electricity supplier itself
- did not purchase electricity in the prescribed manner;
- received it at the expense of imbalances formed by the transmission system operator;
- did not make mandatory payments for these imbalances.
The key role in the scheme, according to the investigation, was played by an official of Ukrenergo, who, having the authority to administer settlements in the electricity market, deliberately failed to apply the statutory response measures to the electricity supplier.
The scale of the damage
As a result, according to the investigation:
- more than 82 thousand MWh of electricity was supplied without any grounds;
- the total cost of this volume exceeds UAH 168 million;
- the actions led to material damage to Ukrenergo and are qualified as having grave consequences.
The pre-trial investigation is currently underway. Law enforcement officials have not disclosed whether the suspects have been granted a measure of restraint or whether they are checking the possible range of other persons involved.
If found guilty, the suspects face long-term imprisonment with confiscation of property.
