One of Ukraine’s high-profile energy corruption cases closed, decision to be appealed

The Ukrainian high anti-corruption on Monday decided to close the so-called ‘Rotterdam-plus’ case, which investigators have claimed led to an unreasonable increase in energy prices in the years 2016-2020.

The case, led by the Ukrainian national anti-corruption bureau, or NABU, is considered one of the most high-profile anti-graft investigations led by the agency.

The investigation centred on the so-called Rotterdam-plus formula, approved in 2016 by the national energy and utilities regulatory commission, or NKREKP, a body that regulates energy and utility prices in Ukraine.

The formula was used to calculate the wholesale market price for electricity and, according to NABU, included costs that did not actually exist—namely the cost of transporting coal to Ukraine from the Dutch port of Rotterdam.

In 2020, Ukraine transitioned to a new electricity market, and the Rotterdam-plus formula ceased to exist.

The court on Monday ruled that the Rotterdam-plus case be closed due to the "expiration of the pre-trial investigation after the person was served with a notice of suspicion."

The prosecutor's office disagreed with the decision and said it would appeal.

In March 2023, NABU, together with the special anti-corruption prosecutor’s office, or SAPO, brought the first episode of the case to court. Six people were to be tried, including NKREKP’s former head Dmytro Vovk.

They were claimed to have caused electricity consumers losses of over UAH 19 billion in 2016 and 2017.