In the first quarter of 2001, AO MOSENERGO paid for gas 5,242.4 million rubles in cash, or 124 percent, Aleksandr Remezov, general director of AO MOSENERGO, said at a web-conference held on May 15. In the fourth quarter of 2000, the power company paid for gas a total of 3336.0 million rubles in cash, or 104 percent.

As of April 1, 2001, AO MOSENERGO has fully settled accounts for current gas consumption and cut arrears from 5,897.2 million rubles as of October 1, 2000, to 3,422.7 million rubles as of April 1, 2001.

Thus, by the end of the peak consumption period (autumn-winter 2000/2001), AO MOSENERGO reduced its gas arrears 42 percent.

AO MOSENERGO's payables resulting from the consumption of the fuel during the peak period in autumn-winter 2000/2001 were cut due to the effective energy sales policies including strengthening the payment discipline and ensuring 100 percent cash payments from end users of supplied heat and electric energy.