ORDER OF FUND OF THE STATE-OWNED PROPERTY OF UKRAINE

of March 12, 2013 No. 293

About approval of the Technique of assessment of assets of subjects of natural monopolies, subjects of managing in the adjacent markets in the field of the combined production of electrical and heat energy

According to the paragraph the nineteenth parts two of article 9 of the Law of Ukraine "About natural monopolies" PRIKAZYVAYU:

1. Approve the Technique of assessment of assets of subjects of natural monopolies, subjects of managing in the adjacent markets in the field of the combined production of electrical and heat energy which is applied.

2. In accordance with the established procedure to provide to management concerning estimative activities of Department of coordination of development and accomplishment of program documents, assessment and the order with objects of state-owned property of Fund of state-owned property of Ukraine submission of this order on state registration in the Ministry of Justice of Ukraine.

3. To impose control over the implementation of this order on the vice-chairman of Fund of state-owned property of Ukraine according to distribution of functional obligations.

4. This order becomes effective from the date of its official publication.

It is approved: The chairman of the National commission performing state regulation in the field of power

S. M. Titenko

The chairman of the National commission performing state regulation in the field of utilities

V.V.Saratov

The chairman of Public service of Ukraine concerning regulatory policy and development of entrepreneurship

M. Yu. Brodsky

V.i.o. Minister of Regional Development, Construction and Housing of Ukraine

D.V.Isayenko

Vice-chairman of the Antimonopoly Committee of Ukraine state representative

F. I. Vlad

Approved by the Order of Fund of state-owned property of Ukraine of March 12, 2013 No. 293

Technique of assessment of assets of subjects of natural monopolies, subjects of managing in the adjacent markets in the field of the combined production of electrical and heat energy

І. General provisions

1.1. This Technique is applied only for assessment of assets of the subject of natural monopolies, the subject of managing in the adjacent markets in the field of the combined production of electrical and heat energy (further - the company) which are used for field of activity, subject to regulation according to the Law of Ukraine "About natural monopolies", for the purpose of determination of regulatory base of such assets during transition to the stimulating regulation.

1.2. Terms which are used in this Technique are used in the following values:

remaining useful life of asset - the useful life of asset expected for date of assessment before date of its removal from operation which according to requirements of this Technique is calculated taking into account its normative useful life and size of its physical wear;

normative useful life of asset - useful life of the asset included in regulatory base, from start date of its operation before date of its removal from operation in type of total loss of primary functional (consumer) characteristics in case of usual (standard) conditions of its operation, established according to the Law of Ukraine "About natural monopolies" body which performs state regulation of activities of subjects of natural monopolies, subjects of managing in the adjacent markets in the respective sphere;

expense optimization on substitution (reconstruction) of asset - reduction of replacement cost (reconstruction) of asset for the purpose of taking into account of excessive expenses on creation of asset or its excessive capacities which come to light based on comparative analysis of expenses on its creation or the analysis of its capacities sufficient for satisfaction of market demand for products (services, works), production (provision) of which (which) it is provided with such asset;

reconstruction of assets - works on reorganization (completion) of the existing subjects to production appointment connected with production enhancement, increase in its technical and economic level, change of the main technical and economic indicators (capacity, functional purpose, the geometrical sizes and so forth);

the actual useful life of asset - the period of Date of Introduction of asset in operation before date of assessment.

Other terms which are used in this Technique are used in the values given in national standards of assessment, other regulatory legal acts according to property that according to article 9 of the Law of Ukraine "About assessment of property, property rights and professional estimative activity in Ukraine" perform methodical regulation of assessment of property.

ІІ. Preparatory stage to assessment of assets

2.1. According to this Technique objects of assessment are the following non-current assets of the company:

fixed assets;

capital investments;

intangible assets.

2.2. The preparatory stage to assessment of assets includes:

Inventory count of the assets specified in Item 2.1 of this Section is carried out by the company;

the analysis of use of assets which is carried out by the company, and creation of the list of the assets which are subject to assessment and the list of the assets which are not subject to assessment;

identification of the assets which are subject to assessment with their distribution to groups on their functional purpose which is carried out jointly by the subject of estimative activities and the company.

2.3. For the purposes of assessment performed according to this Technique for certain date of inventory count of assets inventory count of the assets of the company specified in Item 2.1 of this Section, according to the Regulations on inventory count of assets and liabilities approved by the order of the Ministry of Finance of Ukraine of September 2, 2014 No. 879, registered in the Ministry of Justice of Ukraine on October 30, 2014 for No. 1365/26142 (with changes) is carried out by results of which based on accounting data lists of assets of the company according to Item 2.2 of this Section are created. Date of inventory count is the last date in which the company makes the decision on transition to the stimulating regulation within the terms established by body which performs state regulation of activities of subjects of natural monopolies, subjects of managing in the adjacent markets in the respective sphere.

2.4. During inventory count by the company the analysis of use of assets in the field of the activities which are subject to regulation according to the Law of Ukraine "About natural monopolies" concerning which the decision concerning transition to the stimulating regulation is made is carried out.

2.4.1. On analysis results of use of assets the list of assets on the groups specified in Item 2.1 of this Section which are subject to assessment (further - assessment objects), and the list of assets which are not subject to assessment is constituted. The list of the assets which are not subject to assessment joins, in particular, such objects which cost is not considered during determination of regulatory base of assets:

the production facilities which are used during the types of activity different from field of activity which is subject to regulation according to the Law of Ukraine "About natural monopolies", for which the regulatory base of assets is determined;

assets of non-productive appointment (in particular subjects to social, household, cultural, housing purpose);

the investment real estate in the value determined by provisions (standards) of financial accounting;

the assets not serviceable and/or such which on date of assessment according to the company are subject to write-off;

The non-current assets withheld for sale and groups of disposal;

parcels of land and corporeal rights to them;

the capital investments connected with creation, acquisition, reconstruction, upgrade of assets, stated above in this subitem;

the capital investments recognized by the company such which have no perspective to be put into operation and are subject to alienation or write-off.

2.4.2. The subject of estimative activities in accordance with the terms of the agreement on evaluating receives from the customer of assessment, in particular, the inventory count materials constituted and approved according to the Regulations on inventory count of assets and liabilities approved by the order of the Ministry of Finance of Ukraine of September 2, 2014 No. 879, registered in the Ministry of Justice of Ukraine on October 30, 2014 for No. 1365/26142 (with changes); the list of the assets which are subject to assessment and the list of the assets which are not subject to assessment with indication of on each subject of such accounting data: accession number, the name (name), year of commissioning, initial and residual costs according to accounting data of the company for date of inventory count, data on expenses on inseparable improvements in result of carrying out capital repairs, reconstruction, upgrade, etc. (in case of carrying out), and also the documents constituted by the company according to subitem 3.12.1 of Item 3.12 of the Section III of this Technique.

Responsible persons of the company who constituted signed and approved inventory documents, lists of objects which are estimated, and the objects which are not subject to assessment, other basic data provide their completeness and reliability according to the legislation.

2.5. By results of inventory count by the subject of estimative activities together with authorized persons of the company identification of assets which are subject to assessment, with their distribution to groups on their functional purpose is carried out (further - functional groups). The Section of objects of assessment on groups on functional purpose is carried out taking into account their type, functional purpose and the sphere of use, and also proceeding from features of application of the corresponding methodological approaches to their assessment. The subject of estimative activities in case of need has the right from the company of the additional information in writing concerning classification and grouping of assets on the basis of their functional purpose according to requirements of this Technique.

By results of identification of assets the assets not serviceable and/or such which on date of assessment according to the company are subject to write-off can be in addition found, and also the incomplete capital investments recognized by the company such which have no perspective to be put into operation and/or are subject to alienation or write-off. In that case the company constitutes and provides to the subject of estimative activities the changes which are drawn up properly to lists of assets which the subject of estimative activities received according to subitem 2.4.2 of Item 2.4 of this Section.

I ІІ. Organizational and methodical valuation principles

3.1. The basis for evaluating assets according to this Technique is the agreement on evaluating. According to the agreement on evaluating assessment by the customer the company, and the contractor of assessment - subject of estimative activities which acts on the basis of the Law of Ukraine "About assessment of property, property rights and professional estimative activity in Ukraine" is. Terms of the contract about evaluating, in particular, provide signing of the delivery-acceptance certificate of assessment works only on condition of receipt of the review of the valuation report of assets constituted by the reviewer who works in Fund of state-owned property of Ukraine, with positive general conclusion about compliance of the valuation report to requirements of this Technique and national standards of assessment.

3.2. The valuation report of assets and conclusion about their cost in duplicate with the written request are sent to reviewing to Fund of state-owned property of Ukraine. After carrying out reviewing the valuation report of assets together with conclusion about their cost and the review of the report is sent by Fund of state-owned property of Ukraine to the customer of reviewing. For the purpose of informing on results of assessment and reviewing of body which performs state regulation of activities of subjects of natural monopolies, subjects of managing in the adjacent markets in the respective sphere the conclusion about asset cost which is drawn up according to appendix 1 to this Technique and the review of the valuation report is sent.

3.3. Cost determination of assets is performed by condition for date of assessment which matches with date of the inventory count of assets determined according to Item 2.3 of the Section ІІ this Technique. Objects of assessment are the inventory objects of financial accounting given in the list of the assets which are subject to assessment which is constituted according to subitem 2.4.2 of Item 2.4 and Item 2.5 of the Section ІІ this Technique.

Market value or residual cost of substitution (reconstruction) can be measurement base of assets. Assets which are widely presented at the market of similar property and therefore are unspecialized, except real estate, are estimated on their market value. Assets which belong to real estate irrespective of whether they are specialized or unspecialized property, and other assets which are not presented widely at the market and therefore are specialized property, are estimated on their residual cost of substitution (reconstruction).

Residual cost of substitution (reconstruction) is determined by application of method of substitution or method of direct reconstruction of account methodical approach. Market value of assets is determined by application of comparative methodical approach.

3.4. The complete algorithm of determination of residual cost of substitution (reconstruction) of asset includes:

calculation of replacement cost (reconstruction);

calculation of physical wear of asset and use of its size to replacement cost (reconstruction);

calculation of coefficient of optimization and its application to replacement cost (reconstruction) taking into account physical wear for the corresponding groups of the assets determined by this Technique.

3.5. Determination of market value of asset includes the following stages:

forming of set of similar objects (subjects to comparison);

forming of set of elements of comparison which joins indicator of physical wear;

carrying out the analysis of elements of comparison of the estimated asset with the corresponding elements of comparison of subjects to comparison with further calculation of correction coefficients for separate elements of comparison, including the amendment on difference of physical condition (in case of need), for the purpose of price adjustment of sale or the offer of such subjects to comparison;

determination of market value of asset by approval of the correction coefficients of results received after application.

3.6. Assessment of assets of the company which are used in the field of the activities which are subject to regulation according to the Law of Ukraine "About natural monopolies" is carried out taking into account availability in assets of signs of specialized (unspecialized) property and their belonging to certain functional group.

3.7. The real estate appraisal and specialized personal estate is carried out by application of account approach based on the enlarged cost indexes of reconstruction identical or similar to object of assessment of objects. Measurement base of such property is residual cost of substitution (reconstruction). For the purpose of cost determination of substitution (reconstruction) of such property for date of assessment the following indexes are applied to the specified cost indexes:

index of change in value of installation and construction works - to cost indexes of real estate which are the objects put into operation or incomplete by construction;

price index of producers of industrial output of the corresponding industry - to cost indexes of machines and the equipment which is products of such industry;

consumer price index - to cost indexes of other objects or other expenses;

The replacement cost (reproduction) of such objects of assessment as the real estate and specialized personal estate consisting of several assets (components) which belong to different types of property specified in this Item is determined by application of certain indexes to cost indexes of the corresponding assets (components) with the subsequent addition of their current values.

In case of cost determination of substitution (reproduction) of real estate based on information on the cost of costs (estimated cost) which consists of expenses on installation and construction works, the equipment and other expenses, the current value of each of the specified components by increase in their cost specified in the sources determined by this Technique on the corresponding indexes specified in paragraphs the second - the fourth this Item is determined previously. The replacement cost (reproduction) of such property is equal to the amount of current values of installation and construction works, the equipment and other expenses.

3.8. Assessment of unspecialized personal estate is carried out by application of comparative approach based on comparative analysis of price information of the market on identical or similar objects with carrying out in case of need adjustment on differences between object of assessment and subjects to comparison. Measurement base of such property is market value.

3.9. Assessment of wheel vehicles is carried out according to the Technique of the merchandising examination and assessment of wheel vehicles approved by the order of the Ministry of Justice of Ukraine, Fund of state-owned property of Ukraine of November 24, 2003 No. 142/5/2092, of Ukraine registered in the Ministry of Justice on November 24, 2003 for No. 1074/8395 (in edition of the order of the Ministry of Justice of Ukraine, Fund of state-owned property of Ukraine of July 24, 2009 No. 1335/5/1159).

3.10. Assessment of other fixed assets which are noted in Items 3.7- 3.9 of this Section is carried out using the following methods:

paired comparison of sales - by price comparison of sales and offers of similar property;

indexations of primary book (historical) value - increase in primary book (historical) value by the coefficient determined according to subitem 3.10.2 of this Item;

indexations of listed prices on similar property - by increase in the prices specified in price lists of the prices of machines, the equipment and other property, for the coefficients determined according to subitem 3.10.2 of this Item;

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