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MOSENERGO (TGC-3)

March 21, 2003

AO MOSENERGO's board of directors approved joining the Trading Administrator (ATS)

On March 11, AO MOSENERGO's board of directors approved the decision to join the Trading Administrator (ATS). Earlier, this move was approved by AO MOSENERGO's management board. RAO UES will take the final decision.

The non-commercial partnership "Administrator of the Trading System for the Wholesale Electricity Market" was set up in accordance with the government's regulation ''On Reforming the Electric Industry of the Russian Federation." The purpose of the regulation was to lay down the basis for electric power trading in the free market. ATS was founded by 28 companies, which included independent electricity suppliers, electricity consumers and RAO UES's subsidiaries and affiliated entities.

ATS membership will help AO MOSENERGO to more efficiently participate in the formation and development of the competitive electricity market, mainly through lower costs. AO MOSENERGO's participation in the new liquid market will increase the company's investment attractiveness and facilitate new substantial investments. As an ATS member, AO MOSENERGO will be able to contribute to the optimization of the regulated electricity market, as well as free market trades. In addition, AO MOSENERGO will have a say in establishing competitive environment and market pricing mechanisms, promoting full liquidity of electricity payments.

 

 

 

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