Coal buyers have overpaid UAH 15 billion, or $536 million, for the illegal use of the so-called “Rotterdam Plus” formula.
“The other day, we got an economic report by specialists who concluded that the use of ‘Rotterdam Plus’ tariff was indeed unreasonably applied, the established amount of illegally charged funds received as a result of the unreasonable use of this formula is UAH 15 billion,” Director of the National Anti-corruption Bureau of Ukraine (NABU) Artem Sytnyk said at a meeting of the parliament’s committee on preventing and counteracting corruption.
The so-called “Rotterdam Plus” formula was used to calculate the price of coal in power rates on the basis of the European API2 index.
“In order to make a final decision on the case, expertise is needed. Now the issue is being resolved with the prosecutor on the appointment of the expertise. After receiving the examination, there will be a final decision,” he added.
In addition, Sytnyk noted that there were a number of international legal instructions in criminal proceedings, the answers to which would also influence the final decision.
“The work has been done. In fact, we are now at the final stage before the final decision has been made,” he stated. (UNIAN/Business World Magazine)
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