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Coal producers contest $17mln fines for price collusion

10:49 03/10/2011

MOSCOW, October 3 - RAPSI, Sergei Feklyunin. A commercial court registered the applications lodged by Siberian Coal Energy Company (SUEK) and Russian Coal challenging the fines of $15 million and $2 million respectively imposed by the antimonopoly watchdog, the court told the Russian Legal Information Agency (RAPSI) on Monday.

The Federal Antimonopoly Service (FAS) reported on September 20 that the fines were levied for a price collusion on the power plant coal market.

Earlier the service considered the antimonopoly case of SUEK, Russian Coal and Stroyservice and found that they violated the competition law. The companies entered into agreements restricting competition on the coal market and intended to fix coal prices and divide the market between the vendors.

Both applications were submitted to the court on September 30. The hearing dates have yet to be scheduled.

The Interior Ministry launched a criminal case against these companies last winter.

SUEK (Siberian Coal Energy Company) is Russia's biggest power generating coal producer.

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Coal producers contest $17mln fines for price collusion

10:49 03/10/2011 Commercial court registered the applications lodged by Siberian Coal Energy Company (SUEK) and Russian Coal challenging the fines of $15 million and $2 million respectively imposed by the antimonopoly watchdog.
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