"AO MOSENERGO's receivable debt was reduced by 2.4 billion rubles during the first half of 2001", said Vitaly Kuzmin, deputy general director of MOSENERGO at the press conference held today.

The Company's receivable debt amounts to 11.8 billion rubles. Approximately 10.2 billion rubles are attributed to consumer debt and 1.6 billion in power supplied to FOREM.

According to Kuzmin, the main defaulters are organizations that draw their funds from the federal budget (this debt reached 2 billion rubles) as well as budgetary consumers from the Moscow region (35.5 billion rubles). The debts of Moscow budget consumers have been settled in full for the most part.

The big organizations having the aggregate debt 2.6 billion rubles should be also numbered with major defaulters. Among them are the enterprise "Moskvich" and the Nuclear Research Institute (OIYAI) in Dubna.

Kuzmin said that the wholesale power resellers must write off about 700 million rubles of debt till the end of this year. The activities of certain power resellers in their debt reduction and current payments for electric energy may positively exemplify their cooperation with AO MOSENERGO. Among this group is the power supply network in Sergiyev-Posad.

Kuzmin said that the main objective of the power sales activities of the Company for the first half of 2001 were 100 percent payments for electric power with money and equal assets, which has been achieved as a whole.