The controversial Transnistrian company Energocapital has a court trial with the Moldovan state enterprise Energocom on the debt for the electricity supplied to the right bank of the Dniestr River. The hearings on the dispute were postponed several times. First time because Energocapital representatives could not justify the submitted financial claims, which have been subsequently changed by reducing them for the second time, so that Energocom is acquainted with the new calculations.
Energocapital emerged on the energy market in 2014 as an intermediary and managed to make itself known through the involvement in the robbery of the banking system and causing shortages of foreign currency in the Transnistrian region.
Premises of the dispute
The Transnistrian company Energocapital appeared as an intermediary for the supply of energy for Moldova in 2014 after Ukraine cut off electricity supply to Moldova, following the outbreak of civil war. Earlier, Moldova bought the electricity directly from the Kuchurgan station.
Thus, starting with 2014 Energocapital pays the main electricity producer in Moldova, the Cuciurgan plant, for the transformation of natural gas into electricity and then sells the energy to the state company Energocom, benefiting from generous price differences.
In April this year, the controversial intermediary from Tiraspol sued the state company Energocom. According to the so-called Transnistrian Supreme Soviet, Energocom has debts of 13.9 million dollars to "Energocapital" for the supplied energy.
A month before starting the dispute, in March, the two companies signed a new contract, which provided considerable discounts of the electricity from US $ 67.95 / MWh to US $ 48.995 / MWh.
In an interview offered to NM, the chief executive of Energocapital, Mr. Mikhail Dobrov, said he sued Energocom because it violates the contract provisions by not paying systematically the money for the supplied electricity. Energocom’s debt to Energocapital is based on the debts of Gas Natural Fenosa and RED Nord to the state enterprise.
The representatives of "Energocapital" filed more financial claims against Chisinau state enterprise. They say that during a year “Energocom” would have accumulated debts, including penalties, interest and damages in the total amount of 350 million lei, unrecognized by Energocom.
Taking into account that at the first hearing Energocapital could not justify the amounts claimed, the hearing was postponed for May 30.
At yesterday's meeting, the representatives of Energocapital declared they had miscalculated the initial amounts and revised the amount of arrears by decreasing them. The hearing was postponed again because Energocom representatives requested a break to get acquainted with the new calculations.
Energocapital connection with the robbery of the banking system
In an investigation of the The Black Sea organization it is shown that "Energocapital" belongs to a complex network of offshore owners involved in the robbery of the Moldovan banking system.
Energocapital chief executive, Mr. Michael Dobrov, denied this information. However, he did not want to give details regarding the identity of the company founders.
The investigation was published shortly after the signature of a new contract between Energocom and Energokapital according to which suppliers operating in Moldova would purchase the electricity at a lower price.
The investigation shows that the owners of Energocapital are a complex network of offshore companies in Hong Kong (Ornamental Art Limited), Edinburgh (Energy Assets Development), Seychelles and, possibly, Belize islands (Intercom Management), which has connections with the scheme that led to the collapse of three Moldovan banks in 2014 and the disappearance of a billion dollars.
Thus, the company Energy Development Assets LP would share the same headquarter with the company Fortuna United Ltd, involved in the robbery of the banking system through getting a loan of 825 million euros from the Social Bank, which led to the bankruptcy of the respective bank.
Another shareholder of Energokapital is the company Bas Market, registered in Tiraspol, whose shareholders are Dzetsul Yuri, a close friend of Evghenii Sevciuc and Intercom Management Company, based in Belize.
Sevchiuc's affiliation to people close to Energocapital has been reflected by the portal mold-street, who wrote that the company founded in 2014 passed the registration and licensing process within only few days. Journalists also suggested that the company is linked to the Russian "Gazprom".
The former prime minister Ion Sturza stated in the press that the final beneficiaries of the "mysterious" company Energocapital are the representatives of Moldovan and Transnistria authorities.
Energocapital, blamed for the shortages of currency in Transnistria
The journalists from the TSV channel have produced several reports that showed the causes and consequences of foreign currency deficit in Transnistria. Some officials say that in this situation Energocapital is the guilty company, as it sells the currency, made by selling the electricity, in very small quantities and which is, in fact, the only source of accumulating the currency.
The banks, businesses and exchange offices in Transnistria have a lack of foreign currency and it is for the first time in recent years when a black market of currency has been opened.
Economic agents need to buy the goods in dollars, but there is no place they could buy the currency. Thus, the goods that were purchased in currency have disappeared from stores.
Transnistrian residents complain that they cannot leave the country or buy some products from abroad, because they cannot change the local money into a currency.
The deputy of the Supreme Soviet, Porfirii Skilniuk, deems Energocapital guilty of the lack of currency as it sells very little currency on the domestic market.
The head of the Supreme Soviet, Alexandr Martinov, affirms that Energocapital gets tens of millions of dollars by supplying the electricity from the Kuchurgan power station.
The president of Transnistria, Evghenii Sevciuc, refused to make any declarations on this issue.