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 "Rotterdam+ formula involves no violations", - Vice Premier Kistion

кистион

Deputy Prime Minister Volodymyr Kistion says the so-called Rotterdam+ formula for coal prices contains no violations.

He said this in an interview with EP, Censor.NET reports.

"Appropriate decisions (concerning the validity of the Rotterdam+ formula) have been passed within the Prosecutor General's Office, NABU that also cast doubt on this formula and the relevant actions by the National Regulatory Commission. If even law enforcement agencies doesn't probe it, then the formula Rotterdam+ contains no violations," the deputy prime minister said.

Read more: First ship with US coal arrived in Ukraine, - Yuzhnyi Port

Asked whether Rotterdam+ has the right to exist, Kistion replied: "It's a debatable point. At such times I always say: offer an alternative."

"Let's say that tomorrow we cancel the formula. What benchmark shall we use to determine the price of coal and, subsequently, determine the cost of electricity? Akhmetov [a Ukraine's tycoon - ed.] has one price for coal, and Donbasenerho has another. What should we take as a basis?" said Kistion.

Read more: Ukraine to stop using anthracite coal by 2020, - Energy Minister Nasalyk

Asked about possible removal of the logistics component from the formula, the deputy prime minister said: "We need to play around with it".

In general, he said, this issue is not that relevant, because the price of coal used to calculate the cost of electricity is much lower than the price in the hub.

"For example, today, the wholesale market price of electricity is based upon $66 per ton of coal, while the real hub price has been $86 per ton since summer," he said.
 
 
 
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