The Ministry for Energy Industry of the Russian Federation plans to approve long-term investment programs of electric grid companies before the end of September of the current year.

The Ministry for Energy Industry of the Russian Federation plans to approve long-term investment programs of electric grid companies before the end of September of the current year, a high official of the Ministry reported to RIA Novosti on Monday.

"We had a deadline for approval of the investment programs - till 15 August. But the companies' investment plans are scheduled to be approved before the end of September because of long discussion with the regions, " the source reported.

According to Order #977 of the RF Government, the State approves investment programs in the electric power industry of those companies, the state share in which is at least 50% plus one share. The long-term investment program of IDGC of North-West for the period of 2011-2015 was generated in the amount of RUR 51,283 million.

For today, two branches of IDGC of North-West have already agreed upon their investment programs with the administrations of the regions - the Vologda Region and the Republic of Karelia. "Vologdaenergo" plans to invest RUR 11,322 million till 2015 into development of the grid complex. "Karelenergo" plans to invest RUR 6,688 million. In comparison with the investments of the year 2011 (RUR 531 million), Karelian powermen are going to increase the investments 3.5 times till 2015 - up to RUR 1,841 million. All of the funds will be used for development of the grid infrastructure.

The investment program of "Novgorodenergo" was approved for the period of 2010-2012 in the amount of RUR 2,749 million. This is owing to the fact that the grid enterprise has been using RAB regulation since 1 January of this year. The program of the long-term regulation is intended for 3 years. The approval of the investment programs of IDGC of North-West's branches with the administrations of the Arkhangelsk (RUR 5,450 million), Murmansk Regions (8,226 million) and the Republic of Komi (RUR 8,601 million) continues. The amount of the investments into the grid complex of these regions is planned to be RUR 22,277 million till 2015.

The investment program of "Pskovenergo" for the period of 2011-2015 in the preliminarily approved amount of RUR 5,463 million is amended now.