print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Rosseti Volga press releases

Rosseti Volga

December 29, 2016

Chuvash non-paying companies will enter the new year with a billion-ruble debt for electricity transmission services

The outgoing 2016 became the "year of non-payment" for electricity transmission services in the territory of the Chuvash Republic. The main reason for the unfavorable situation in the republic is billion-ruble debts for electricity transmission services on the part of the POLR Chuvash Power Sales Company, JSC. For example, if the year began with the volume of undisputed arrears of the company before IDGC of Volga, PJSC in the amount of 705.2 million rubles, then at present, a few days before the end of the year, this debt has already amounted to 1,153,700 million rubles.

Chuvash Power Sales Company, JSC should not ensure normal operation of the power grid facilities, carry out their repair and renovation. The main functions of marketers are reduced to raising funds from subscribers and transfer them to their destination. However, Chuvash Power Sales Company can not cope with these functions. The explanation of the current debt by the non-payment of their own subscribers is actually an admission of ineffectiveness of their work. The status of POLR gives the sales company a number of advantages, but also imposes significant responsibility. Chuvash Power Sales Company, JSC is ready to use the advantages but obviously is not about to be accountable to electric grid companies and its own consumers.

 Besides, the POLR, some companies also come to the end of 2016 with debts to IDGC of Volga, PJSC: Communal Technologies, LLC, as electricity consumer (5.7 million rubles), related grid operators, Municipal Unitary Enterprise (MUP) Novocheboksarsk Municipal Electric Networks (9.2 million rubles) and Elektrotekhmontazhlaboratoriya Plus, LLC (0.7 million rubles).

The total amount of contractors' debt for the electricity transmission services, exceeding 1.2 billion rubles, not only leads to significant difficulties in the grid company activities of IDGC of Volga, PJSC, but also in the activities of the rest of the regional grid organizations. In accordance with the tariff model, they get paid by consumers for electricity transmission services through IDGC of Volga, PJSC. Thus, the problem of a huge total debt for electricity transmission services, caused in the first place by Chuvash Power Sales Company, JSC, has outgrown the boundaries of non-payment to IDGC of Volga, PJSC and has come to the republican level.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer