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MOSENERGO (TGC-3)

June 24, 2003

The Ministry of Defense remains AO MOSENERGO’s biggest federal debtor

The debt of the Ministry of Defense owed to the Moscow power company for supplied electricity and heat has doubled from the start of the year and reached 302 mln rubles.

Their budgetary funds for AO MOSNERGO (allocated for power payments) have not been used in full. In the first half of the year AO MOSENERGO will not receive from the Ministry of Defense 89 mln rubles. Some MoD divisions exceed their power consumption limits.

MoD has failed to pay AO MOSENERGO required amounts within agreed time limits. In fact, AO MOSENERGO has provided MoD with interest-free loans worth tens of millions of rubles. The MoD financial policy negatively affects AO MOSENERGO's efficiency. As a result, AO MOSENERGO has had to reduce power supply to MoD divisions to specified limits.

The failure of the MoD organizations to meet their financial obligations and low payment discipline poses a threat to winter preparations.

 

 

 

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