”Rotterdam+” case: NABU informed 15 more people about the suspicion

The National Anti-Corruption Bureau has notified 15 people of suspicion that they are involved in the introduction of the so-called "Rotterdam+" formula, due to which electricity consumers illegally overpaid more than 20 billion hryvnias during 2018-2019.

NABU reported this on October 26.

In the list:

• two former heads of the National Commission for State Regulation of Energy and Utilities;
• six former members of the commission;
• three active members of the commission;
• one current and one former employee of the commission;
• one current and one former official of a group of private heat-generating companies.

The investigation believes that they improperly performed their official duties, which caused serious consequences for state and public interests.

This is the second episode of the Rotterdam+ case investigation. The investigation of the first, which involves six people regarding the illegal overpayment of over 19 billion hryvnias during 2016-2017, was completed in September 2022.

• The "Rotterdam+" formula has been used by the National Commission for Energy and Communal Services since April 2016. It set the tariff for thermal power plants based on the average price of coal at import parity for the last year. After that, electricity prices began to rise — the tariff in Ukraine was tied to the price of coal on the commodity exchanges of the Netherlands. In March 2017, NABU began to investigate the conspiracy during the implementation of the Rotterdam+ formula.
• According to the investigation, costs that did not actually exist were included in the "Rotterdam+" formula, namely, for the transportation of coal from the national producer to thermal power plants from the port in Rotterdam. During the 4 years of the formulaʼs existence, Ukrainians overpaid for electricity by more than 39 billion hryvnias.
• At the end of August 2019, it became known about the decision of the SAP to close the case against "Rotterdam+" on the basis of an examination, which allegedly did not reveal any losses. NABU stated that this decision contradicts the principles of the rule of law, and the Court of Appeal confirmed the validity of the examination.