“Klin Electric Networks” Municipal Unitary Enterprise is fined for breaching the Information Disclosure Standards

“Klin Electric Networks” Municipal Unitary Enterprise is an electric network organization that provides services for network transmission of electric power. The company is a natural monopoly and its activities are subject to government regulation.
Under Article 22 of the Law on Electric Power Industry, natural monopolies in the electric power industry are obligated to publish information about their activities in mass media in accordance with the Information Disclosure Standards.
FAS Russia established that the information published by the company in mass media lacked data for some periods in 2009-2010 regarding applications for technical connections, concluded contracts for technical connection for each section of electric networks, and specification of the amount of contracts and connected capacity under each contract and, period and costs of each contract, as well as some other data.
Under the Information Disclosure Standards, participants of electric power markets are responsible for disclosing full and correct information in accordance with the law of the Russian Federation. The company was fined RUB 200,000 for committing the violation.
*The Information Disclosure Standards for participants of wholesale and retail electric power markets are approved by No.24 Decree of the Government of the Russian Federation of 24th January 2004.