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MOSENERGO (TGC-3)

October 4, 2002

AO MOSENERGO insists that FGUP Moscow Channel should pay debts

Active negotiations between AO MOSENERGO and Moscow Channel held in September on the debt restructuring issue yielded non result. As before, the company fails to pay for current power consumption in full. At present, Moscow Channel owes to AO MOSENERGO 110 mln rubles for electricity that was supplied in the end of 2001 and in August-September.

In September 2002, AO MOSENERGO turned to the Moscow Arbitration Court trying to recover debts from Moscow Channel and is currently waiting for the date of the hearings to be announced

On October 7, AO MOSENERGO plans to exert some pressure on the debtor by partially limiting the power supply to sub-customers of Moscow Channel – NPO Altair, Road Center Energosbyt and Energonadzor and NII Power Facilities. The company cannot apply such measures against Moscow Channel itself due to the nature of its operations.

In total, Moscow Channel has 47 sub-customers – plants and residential areas which consume around 10% of power supplied to Moscow Channel in winter. Earlier, AO MOSENERGO had to stop supplying power to some of them.

 

 

 

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