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MOSENERGO (TGC-3)

February 13, 2003

AO MOSENERGO demands timely payments for consumed power from Teploremontnaladka

Currently state enterprise Teploremontnaladka owes AO MOSENERGO 43 mln rubles. Teploremontnaladka has not yet paid for heat that was supplied in December 2002. At the same time, AO MOSENERGO continued to supply heat to all Teploremontnaladka facilities. This company services some 500 heating facilities in the northeastern district. It buys heat from AO MOSENERGO and sells it to industrial and residential facilities.

AO MOSENERGO has streamlined the general situation with heat payments. Presently, most AO MOSENERGO clients pay on time for consumed heat. However, some enterprises breach payment schedules thus complicating AO MOSENERGO operations. Any delay in payments by consumers makes it necessary for the company to apply additional efforts to recover debts, leading to decreases in the company's earnings and distortions in financial statements.

Under current conditions in which Teploremontnaladka has not paid for heat consumed in December, AO MOSENERGO cannot guarantee reliable heat supply for the company. In case Teploremontnaladka does not pay it debts soon, AO MOSENERGO will take radical measures by limiting heat supply to the entity.

AO MOSENERGO calls on its clients to stick to a disciplined approach and fulfill agreement terms as far as payments are concerned. In its turn, the company pledges to ensure reliability and quality of heat supply.

 

 

 

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