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Unified Energy System

March 30, 2005

State registration of OAO "TGC-1" completed

Moscow, 30 March 2005. OAO "Territorial Generation Company No. 1" (OAO "TGC-1") was registered with the Interdistrict Inspectorate of the Federal Tax Service of Russia for the city of St.-Petersburg.

The charter capital of OAO "TGC-1", at the time of establishment, will be RUB10 million. OAO "TGC-1" is co-founded by OAO "Karelenergogeneratsiya" (12%), OAO "Kolenergo" (25%), and OAO "Lenenergo" (63%). The stakes held by the co-founders were determined upon comparison of their installed capacity, actual output of electricity and heat, and the replacement cost of the generating assets to be leased to OAO "TGC-1".

The co-founders' meeting approved the appointment of Andrey Likhachev (currently CEO of OAO "Lenenergo") as Director General of OAO "TGC-1". Earlier, the Management Board of RAO "UES of Russia" had approved the nomination of Mr. Likhachev for election as Director General.

The Board of Directors of OAO "TGC-1" consists of the following members: Alexander Chikunov, member of the Management Board, RAO "UES of Russia", Head of the Center for Reform Projects Implementation at the Reform Management Center, RAO "UES of Russia"; Maria Pichugina, Deputy Head of the Center for Reform Projects Implementation at the Reform Management Center, RAO "UES of Russia"; Danil Nikitin, Deputy Managing Director, Executive Director of Business Unit No. 1, RAO "UES of Russia"; Ilyas Zagretdinov, Deputy Managing Director, Executive Director of Business Unit No. 1, RAO "UES of Russia"; Andrey Likhachev, Director General at OAO "TGC-1", Director General at OAO "Lenenergo"; Lyubov Sovershayeva, Deputy Representative Plenipotentiary of the President of the Russian Federation in North-Western Federal Okrug; Andrey Bugrov, Managing Director, ZAO "Interros Holding Company"; James Gerson, Director, Lonburg Ltd.; Irina Grave, Vice President, Head of St.-Petersburg Representative Office of Fortum Power and Heat Oy; Kautinen Kari, Managing Director, Fortum Power and Heat Oy; and Kuula Tapio, President, Fortum Power and Heat Oy.

The co-founding of an operating company, OAO "TGC-1", by OAO "Kolenergo", OAO "Lenenergo", and OAO "Karelenergogeneratsiya", using lease arrangements was approved by the Board of Directors of RAO "UES of Russia" on 26 November 2004.

According to the preliminary schedule, TGC-1 will start working as an operating company set up using leasing arrangements on 1 July 2005. The establishment of TGC-1 will be completed in the third quarter of 2006 after the three Regional Generating Companies (RGCs) merge with and into TGC-1.

OAO "TGC-1" is under the charge of Business Unit No. 1 of RAO "UES of Russia" headed by Mikhail Abyzov, member of the Management Board and Managing Director of OAO RAO "UES of Russia".

 

 

 

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