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MOSENERGO (TGC-3)

January 17, 2003

On January 10, AO MOSENERGO asked the Moscow REC to increase electricity and heat tariffs

AO MOSENERGO proposes to increase electricity tariffs by 40% and heating tariffs – by 50%

During the last ten years AO MOSENERGO's tariffs have been artificially lowered. As a result, AO MOSENERGO was not able to upgrade fixed assets and develop generation facilities. From 1992–2002, the company's power assets grew only 4.3%. However, the power consumption in the Moscow region has been continuously growing. In 2001, the power consumption in the AO MOSENERGO power system reached the peak level. In December 2002, power consumption reached 14,230 MWt, which exceeds similar figures for 1992 by 17.6%. Only in 2002, power consumption grew 4.4% in Moscow and 5.6% in Moscow region.

For more than a year AO MOSENERGO has been insisting that the investment component of power tariffs is not sufficient to ensure proper development of generation facilities, especially, in conditions of growing tariffs. Therefore, the new tariffs are based on AO MOSENERGO's investment needs for 2003. These needs are estimated to reach 14 billion rubles. 5.9 billion rubles are likely to be amortization expenses. The key stages of the investment program have been defined, though additional finance is required to carry out detailed assessments. This money can be allocated only after the decision has been made to change tariff levels.

The lack of financing will result in technological problems, which could endanger the development of the Moscow region power system. 17% of AO MOSENERGO's turbines have exhausted their resources and the lack of financing may undermine social programs, such as the implementation of the housing program, as additional power and heat supply is needed for new housing.

 

 

 

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