The business of the Inter RAO Group covers almost all economic realms and is extremely sensitive for a broad range of persons. The Group's business includes, inter alia, the generation and distribution of power and heat – activity types objectively associated with risks antitrust laws being violated.
With the aim of building an effective system for preventing antitrust violations, to further the Group's Compliance Policy, and in reliance on the Code of Corporate Ethics, the Company's Board of Directors has approved the Antitrust Compliance Policy. The Policy laid the foundation for implementing principles, rules and procedures, measures for the public and private prevention of violations, which contribute to minimizing antitrust risk and protecting the interests of the Group's customers to the fullest extent possible.
The Group companies have aligned themselves with the Antitrust Compliance Policy approved by the above-mentioned resolution of the Board of Directors of PJSC Inter RAO.
The antitrust compliance system is aimed at preventing and mitigating antitrust risks due to violations of laws or professional, ethical and other standards developed by the companies in the Group.
The antitrust compliance system includes both the totality of external regulations and bylaws and internal monitoring and control arrangements designed to ensure compliance with regulatory provisions and the totality of consultation, information, and training arrangements for maintaining and improving the compliance culture of all employees of the Group.
The key antitrust compliance principles of the Group are the following principles based on the Compliance Policy of PJSC Inter RAO and the Risk Management and Internal Control Policy of PJSC Inter RAO as approved by the Company's Board of Directors:
- Shared Involvement
- Best National and International Compliance Practices
- Free, Prompt, and Unrestricted Access to Information
- Antitrust Compliance Development
The accountability for antitrust compliance within the Group is entrusted to Deputy CEO, Head of Corporate and Property Relations, Corporate Secretary of PJSC Inter RAO Tamara Merebashvili.
Antitrust compliance is intended to create conditions within the Group to encourage every employee to exercise self-control and self-discipline, making any antitrust violations virtually impossible.