Regional Gas Company (RGC) believes that the decision of the Antimonopoly Committee of Ukraine to impose UAH 278 million fine on regional gas supply companies managed by the group is groundless and plans to challenge it in court.

In its statement on Tuesday, RGC said that the conversion of gas volumes to standard conditions is provided for by Ukrainian legislation, in particular, by the law on the natural gas market, the Code of gas distribution systems, a standard distribution agreement, and supply rules.

"According to this legislation, since 2016, the difference in volumes that arises from bringing gas to standard conditions has been excluded from the costs of gas distribution operators and included in the consumers' expenses, which is confirmed by the relevant government and scientific examinations," the group said in the statement said.

The group also believes that the ban on bringing gas to standard conditions violates the principle of uniformity of measurement.

"RGC considers such actions of the Antimonopoly Committee of Ukraine as a flagrant manifestation of pressure on business by officials. The decision of the Antimonopoly Committee of Ukraine harms the entire gas industry and makes it impossible to introduce European rules for the functioning of the gas market, therefore it will be appealed as prescribed in the law," the group said.