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Gas traders fined in Ukraine

The Ukrainian competition authority fined state owned Ukrainian UkrEnergo and Hungarian EMFESz Kft $15,000 for registering the Odessa based Juzsnaja Energeticseszkaja Kompanyija (JUEK) - Southern Energy Company - without prior consent from the authority.

According to the office the application for establishing the consortium was filed on August 29 last year, the new firm was registered last year on September 11, long before the consent was granted. JUEK is to build the high voltage cable connecting South Ukraine to Romania, and thus establishing a new export corridor for the power produced in the Moldavian power plant. 75% of the new company's base capital belongs to Dimitrij Firtas owned EMFESZ energy company, 25% to the Ukrainian power cable operator UkrEnergo. (Népszava)