GTSOU appealed against District Administrative Court suspending NEURC’s the decision on financial guarantees

The Gas TSO of Ukraine LLC (GTSOU) appealed to the Decision No640 / 22977/20 of October 6, 2020, of the District Administrative Court of Kyiv on securing the administrative claim of the Egas LLC to National Energy and Utilities Regulation Commission (NEURC), as reported by the press service of the GTSOU.

The court decision suspended some provisions of the NEURC’s Resolution No1611 of August 26, 2020, in terms of requirements for banks that provide financial guarantees, and in terms of determining the amount of such financial guarantees on contracts for transmission of natural gas.

According to the GTSOU, the court decision outlawed the requirement of the GTS Code of Ukraine for the GTSOU not to accept a financial guarantee issued by a bank that is not included in the list of the National Bank of Ukraine (NBU) as systemically important banks, as well as waived the rigid procedure for determining an amount of such a financial guarantee.

The decision applies to the following companies that are members of the Association of Energy Suppliers: the Egas LLC, the Vinnytsiagaz Zbut, the Volyngas Zbut, the Dnipropetrovskgaz Zbut, the Zhytomyrgaz Zbut, the Zakarpatgaz Zbut, the Zaporizhgaz Zbut, the Ivano-Frankivskgaz Zbut, the Kyivoblgaz Zbut, the Lvivgaz Zbut, the Mykolayivgas Zbut, the Rivnegaz Zbut, the Sumygaz Zbut, the Kharkivgaz Zbut, the Khmelnitskygaz Zbut, the Chernivtsigaz Zbut, the Chernihivgas Zbut.

“Given that the GTSOU is not a direct party to the court’s decision, we have separately asked the NEURC to provide clarification on how this decision can be implemented. In fact, it creates preferences for one of the groups of players in the gas market,” the GTSOU said in its statement.

10:22 / 21 October, 2020

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