Financial sanctions will be applied to natural monopoly entities for unreasonably changing the prices determined by the Tariff Council.
Publika.az reports that this is the President Ilham Aliyev was reflected in the decree signed today “On the application of the law on the approval, entry into force and legal regulation of the Competition Code of the Republic of Azerbaijan” and on the regulation of some related issues.
According to the decree, a financial sanction in the amount of 0.1 percent of the total turnover of that natural monopoly subject in the financial year preceding the year in which the decision was made by the competition body will be applied to the subject of natural monopoly for unjustified change of the prices determined by the Tariff Council.
Also, the market monitoring will be carried out by the competition body in order to assess the state of implementation of the decisions of the Tariff Council on products whose prices (tariffs) are regulated by the state.
