The regulator has initiated an investigation into potential manipulations by the company "Enerhiya-1," associated with Lyochkin and Tylny.

The National Commission for State Regulation of Energy and Public Utilities (NERC) has initiated an investigation into potential manipulations by the company “Energia-1” led by Ihor Tynnyi and Yuliia Liovochkina in the electricity market.

The regulator made the corresponding decision at a meeting.

“We are not labeling anyone as manipulators. This is the start of a procedure. This is the first case we are addressing under the new REMIT law concerning manipulation. It is a rather complex investigation, and we are conducting it with consideration of the company's position. It is still premature to draw any preliminary conclusions,” emphasized NERC member Oleksandr Formagei.

According to the document, during the preliminary investigation, it was found that “Energia-1” LLC submitted requests for unloading on the balancing market at prices significantly exceeding market rates from November 1, 2024, to November 5, 2024. This led to a substantial change in the marginal price for balancing electricity and the calculated imbalance price, indicating a possible artificial influence on prices.

It is noted that, on average during the investigated period, the offer prices from “Energia-1” LLC exceeded the weighted average by 1617%, demonstrating a significant deviation of “Energia-1” LLC’s offer prices from market trends.

The activation of generating equipment by “Energia-1” LLC, as a provider of balancing services, during five settlement periods from November 1, 2024, to November 5, 2024, resulted in the formation of a marginal price for balancing energy for unloading (in three periods at the level of 10,000 UAH per 1 MWh and in two periods up to 8,250 UAH per 1 MWh).

The regulator determined that the actions of “Energia-1” LLC exhibit signs of abuse in the wholesale energy market.

Reference.

According to data from the analytical system YouControl, “Energia-1” LLC was registered on July 12, 2001. The authorized capital of the legal entity amounts to 11,800.00. The main type of activity of the company is electricity production. “Energia-1” is part of the Liovochkin family group. The company is led by Tetiana Vynnychenko. The ultimate beneficiaries are Ihor Tynnyi and Yuliia Liovochkina.

Background. Earlier, Mind reported that NERC plans to investigate activities in the wholesale energy market at the request of the “Gas Transmission System Operator.” It is noted that one of the market participants was conducting gas buying and selling operations without the necessary registration.