Moscow, 31 October. At its regular meeting held today, the Board of Directors of RAO "UES of Russia" heard a report on the feasibility of establishing territorial generation companies (TGCs) co-founded by several regional energos. The Board of Directors noted the information and instructed the Management Board and the Strategy and Reform Committee of the Board of Directors of RAO "UES of Russia" to finalize the materials submitted subject to the comments made by the Board. The Board of Directors decided to review the issue of TGC co-founding at the next Board Meeting, after further elaboration.
The scenario for TGC co-founding involves its establishment as a large operating company at the first stage of regional energos' restructuring. A TGC is to be co-founded by regional energos: the latter will contribute their power generation facilities to the capital of the newly established company. As a result, it is possible to establish, at an early stage [of the sector restructuring], a large operating company, with the co-founding regional energos as its shareholders
In the course of subsequent unbundling of the regional energos by line of business pursuant to the procedure defined in the 5+5 Strategy of RAO "UES of Russia", a holding company is to be spun off from the regional energo. Such company will hold the stake in the TGC. The holding company's property structure will "mirror" that of the regional energo. This will help secure the right of shareholders in RAO "UES of Russia" and regional energos to a pro-rata shareholding in the TGC as the holding company terminates its operations (whether through winding-up or merger with and into the TGC) and to pro-rata exchange of their holdings in RAO "UES of Russia" and regional energos for TGC shares.
Co-founding of the TGC will bring the following results:
– establishment of large generation companies at the first stage of regional energos' restructuring;
– increase in the market value of RAO "UES of Russia" Holding and companies established as a result of such restructuring;
– observance of shareholders' rights and lawful interests and equitable principles of the reform.
– creation of a system allowing shareholders to exercise control over the reform process and participate in the decision-taking on the issues relating to the protection of their interests and rights.
– shorter timeframes for the implementation of the [sector] reform and less risk of the minority shareholders blocking the energy companies' restructuring.
– upon co-founding and legal implementation of the TGCs RAO "UES of Russia" will have a majority on the regional energos' Boards, thus maintaining its control over the TGC operations.
The Board of Directors instructed the Management Board and the Strategy and Reform Committee to prepare a comparative analysis the scenarios for the TGC establishment (the basic one according to the 5+5 Strategy and the one envisaging co-founding by several regional energos) and a blueprint structure of TGC to be established in the process of regional energos' restructuring.
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The Board of Directors has approved the Draft Restructuring Plan for OAO "Sverdlovenergo" compliant with the basic restructuring plan, envisaging the following:
– reorganization of OAO "Sverdlovenergo" through spin-off of the following companies (while preserving the current capital structure):
- OAO "Sverdlovsk Management Energy Company";
- OAO "Sverdlovsk Generation Company";
- OAO "Serovskaya TPP";
- OAO "Sverdlovenergosbyt";
- OAO "Sverdlovsk Energy Service Company";
- OAO "Sverdlovsk Trunk Grids", a joint-stock company whose only asset is shares in Urals ITC.
– the transfer of the power grid facilities owned by OAO "Sverdlovenergo", which are part of the Unified National Power Grid (UNPG), as consideration for the additional shares in Urals Interregional Transmission Company (Urals ITC) pursuant to the decision of the Board of Directors of RAO "UES of Russia" of 15 August 2002;
The Board has approved the principle of pro-rata distribution of shares in Urals ITC owned by OAO "Sverdlovsk Trunk Grids" among its shareholders using the procedure of liquidation of OAO "Sverdlovsk Trunk Grids" or its merger with and into Urals ITC.
The Board of Directors also resolved that the power distribution networks that are not part of the UNPG are to remain the property of OAO "Sverdlovenergo".
The Board of Directors approved the transfer of the functions of the one-man management bodies (i.e. CEOs) of the following companies to OAO "Sverdlovsk Management Energy Company": OAO "Sverdlovsk Generation Company", OAO "Sverdlovenergosbyt", OAO "Sverdlovenergo", OAO "Serovskaya TPP" (prior to its merger with the generation company of the wholesale electricity market).
The Board instructed RAO UES representatives to vote for the approval of the items of business of Board meetings and shareholder meeting of OAO "Sverdlovenergo", and shareholder meetings of the newly established companies, which are required to ensure implementation of the OAO "Sverdlovenergo" reorganization plan.
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The Board of Directors has approved the Draft Restructuring Plan for OAO "Astrakhanenergo" compliant with the basic reorganization plan, which envisages the following:
– - restructuring of OAO "Astrakhanenergo" through spin-off of the following companies (preserving the current capital structure):
- OAO "Astrakhan Energy Management Company";
- OAO "Astrakhan Regional Generation Company";
- OAO "Astrakhan Energy Retail Company";
- OAO "Astrakhan Trunk Grids", with shares in Central ITC as its only asset;
– the establishment by OAO "Astrakhanenergo" of the following wholly-owned subsidiaries: OAO "Astrakhanenergoremont", OAO "Astrakhanenergosetremont", and the non-profit educational institution "Astrakhan Training Center".
– the transfer of the power grid facilities owned by OAO "Astrakhanenergo" which are part of the Unified National Power Grid (UNPG) as consideration for the additional shares in Central Interregional Transmission Company (Central ITC) pursuant to the decision of the Board of Directors of RAO "UES of Russia" of 15 August 2002;
The Board has approved the principle of pro-rata distribution of shares in Central ITC owned by OAO "Astrakhan Trunk Grids" among its shareholders using the procedure of liquidation of OAO "Astrakhan Trunk Grids" or its merger with and into Central ITC.
The Board of Directors also resolved that the power distribution networks that are not part of the UNPG are to remain the property of OAO "Astrakhanenergo".
The Board of Directors approved the transfer of functions of the one-man management bodies (i.e. CEOs) of OAO "Astrakhanenergo", OAO "Astrakhan Regional Generation Company" and OAO "Astrakhan Energy Retail Company" to OAO "Astrakhan Energy Management Company".
The Board instructed RAO UES representatives to vote for the approval of the items of business of Board meetings and shareholder meeting of OAO "Astrakhanenergo" and shareholder meetings of the newly established companies, that are required to ensure implementation of the OAO "Astrakhanenergo" reorganization plan.
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The Board of Directors has approved the Draft Restructuring Plan for OAO "Dagenergo" compliant with the basic reorganization plan, which envisages the following:
– reorganization of OAO "Dagenergo" through spin-off of the following companies (preserving the current capital structure):
- OAO "Dagestan Trunk Grids", a joint-stock company whose only asset is shares in South ITC;
- OAO "Dagenergo Management Company";
- OAO "Dagestan Regional Generation Company";
- OAO "Dagestan Heat Generation Company";
- OAO "Dagestan Energy Retail Company".
– the establishment by OAO "Dagenergo" of the wholly-owned subsidiaries: OAO "Dagenergoremont" and OAO "Prometey".
– the transfer of the power grid facilities owned by OAO "Dagenergo", which are part of the Unified National Power Grid (UNPG), as consideration for the additional shares in South Interregional Transmission Company (South ITC) pursuant to the decision of the Board of Directors of RAO "UES of Russia" of 15 August 2002;
The Board approved the principle of pro-rata distribution of shares in South ITC owned by OAO "Dagestan Trunk Grids" among its shareholders using the procedure of liquidation of OAO "Dagestan Trunk Grids" or its merger with and into South ITC.
The Board of Directors also resolved that the power distribution networks that are not part of the UNPG are to remain the property of OAO "Dagenergo".
The Board of Directors approved the transfer of the functions of the one-man management bodies (i.e. CEOs) of the following companies to OAO "Dagenergo Management Company": OAO "Dagestan Regional Generation Company" (prior to its transfer to the generation company of the wholesale electricity market), OAO "Dagestan Heat Generation Company", OAO "Dagestan Energy Retail Company", and OAO "Dagenergo".
The Board instructed RAO UES representatives to vote for the approval of the items of business of Board meetings and shareholder meeting of OAO "Dagenergo" and shareholder meetings of the newly established companies, that are required to ensure implementation of the reorganization plan of OAO "Dagenergo".
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The Board of Directors approved the Draft Restructuring Plan for OAO "Kubanenergo" compliant with the basic reorganization plan, which envisages the following:
– restructuring of OAO "Kubanenergo" through spin-off of the following companies (preserving the current capital structure):
- OAO "Kuban Energy Management Company" (OAO "KUEK");
- OAO "Kuban Generation Company";
- OAO "Kuban Energy Retail Company";
- OAO "Kuban Trunk Grid Company", with shares in South ITC as its only asset;
- OAO "Krasnodarenergoremont";
- OAO "Kubanenergosetremont";
– Spin-off of the Company's R&M units and establishment by OAO "Kubanenergo" of the wholly-owned subsidiaries, OAO "Kubanenergoremont" and OAO "Kubanenergosetremont". The Board deems it possible, subject to consent of minority shareholders, to spin off OAO "Kubanenergoremont" and OAO "Kubanenergosetremont" from OAO "Kubanenergo", preserving the share capital structure.
– the transfer of the power grid facilities owned by OAO "Kubanenergo", which are part of the Unified National Power Grid (UNPG), as consideration for the additional shares in South Interregional Transmission Company (South ITC) pursuant to the decision of the Board of Directors of RAO "UES of Russia" of 15 August 2002;
The Board approved the principle of pro-rata distribution of shares in South ITC owned by OAO "Kuban Trunk Grids" among its shareholders using the procedure of liquidation of OAO "Kuban Trunk Grids" or its merger with and into South ITC.
The Board of Directors also resolved that the power distribution networks that are not part of the UNPG are to remain the property of OAO "Kubanenergo".
The Board of Directors approved the transfer of functions of the one-man management bodies (i.e. CEOs) of OAO "Kuban Generation Company" and OAO "Kuban Energy Retail Company", and OAO "Kubanenergo" to OAO "Kuban Energy Management Company".
The Board instructed RAO UES representatives to vote for the approval of the items of business of Board meetings and shareholder meeting of OAO "Kubanenergo" and shareholder meetings of the newly established companies, that are required to ensure implementation of the reorganization plan of OAO "Kubanenergo".
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The Board of Directors has approved the Draft Restructuring Plan for OAO "Permenergo" compliant with the basic reorganization plan, which envisages the following:
– restructuring of OAO "Permenergo" by spinning off the following companies (preserving the current capital structure):
- OAO "Perm Energy Management Company";
- OAO "Perm Generation Company";
- OAO "Yaivinskaya TPP";
- OAO "Perm Power Retail Company";
- OAO "Perm Trunk Grid Company", with shares in Urals ITC as its only asset;
– the establishment by OAO "Permenergo" of the wholly-owned subsidiaries: OAO "Permelectrosetremont", OAO "Permenergoremont", OAO "Permenergospetsremont", and OAO "Spetsavtobaza".
– the transfer of the power grid facilities owned by OAO "Permenergo", which are part of the Unified National Power Grid (UNPG), in payment for the additional shares in Urals Interregional Transmission Company (Urals ITC) pursuant to the decision of the Board of Directors of RAO "UES of Russia" of 15 August 2002;
The Board has approved the principle of pro-rata distribution of shares in Urals ITC owned by OAO "Perm Trunk Grid Company" among its shareholders using the procedure of liquidation of OAO "Perm Trunk Grid Company" or its merger with and into Urals ITC.
The Board of Directors also resolved that the power distribution networks that are not part of the UNPG are to remain the property of OAO "Permenergo".
The Board of Directors approved the transfer of the functions of the one-man management bodies (i.e. CEOs) of the following companies to OAO "Perm Energy Management Company": OAO "Perm Generation Company", OAO "Perm Energy Retail Company", OAO "Permenergo", and OAO "Yaivinskaya TPP" (until it is transferred to the generation company of the wholesale electricity market).
The Board instructed RAO UES representatives to vote for the approval of the items of business of Board meetings and shareholder meeting of OAO "Permenergo", and shareholder meetings of the newly established companies, that are required to ensure implementation of the reorganization plan of OAO "Permenergo". The Board instructed [RAO UES representatives] to vote FOR the two scenarios for the establishment of OAO "Permenergoremont" and OAO "Permenergospetsremont" submitted for approval by a shareholder meeting. The first scenario envisages establishment of these companies as wholly-owned subsidiaries of OAO "Permenergo". The second scenario involves spin-off of these companies from OAO "Permenergo", with pro-rata distribution of its capital.
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The Board of Directors has approved the Draft Restructuring Plan for OAO "Ryazanenergo" compliant with the basic reorganization plan, which envisages the following:
– - restructuring of OAO "Ryazanenergo" through spin-off of the following companies (preserving the current capital structure):
- OAO "Ryazan Management Company";
- OAO "Ryazan Heat Supply Company";
- OAO "Ryazan Energy Retail Company";
- OAO "Ryazan Trunk Grids", with shares in Central ITC as its only asset;
– establishment by OAO "Ryazanenergo" of wholly-owned subsidiaries: OAO "Gostinichnoe Khozyaistvo" ("Hotel Business"), OAO "Seti Energoremont", and OAO "Ryazanenergoremont";
– transfer of the power grid facilities owned by OAO "Ryazanenergo" which are part of the Unified National Power Grid (UNPG) in payment for the additional shares in Central Interregional Transmission Company (Central ITC) pursuant to the decision of the Board of Directors of RAO "UES of Russia" of 15 August 2002;
The Board has approved the principle of pro-rata distribution of shares in Central ITC owned by OAO "Ryazan Trunk Grids" among its shareholders using the procedure of liquidation of OAO "Ryazan Trunk Grids" or its merger with and into Central ITC.
The Board of Directors also resolved that the power distribution networks that are not part of the UNPG are to remain the property of OAO "Ryazanenergo".
The Board of Directors approved the transfer of functions of the one-man management bodies (i.e. CEOs) of OAO "Ryazan Heat Supply Company", OAO "Ryazan Energy Retail Company", and OAO "Ryazanenergo", to OAO "Ryazan Management Company".
The Board resolved to instruct RAO UES representatives to vote for the approval of the items of business of board meetings and shareholder meeting of OAO "Ryazanenergo" and shareholder meetings of the newly established companies, that are required to ensure implementation of OAO "Ryazanenergo" reorganization plan.
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The Board of Directors amended the Draft Restructuring Plan of OAO "Lipetskenergo" approved by the Board of Directors of RAO "UES of Russia" on 21 June 2002 and approved the Revised Restructuring Plan of OAO "Lipetskenergo" envisaging:
– restructuring of OAO "Lipetskenergo" through spin-off of the following companies (preserving the current capital structure):
- OAO "Lipetsk Energy Management Company";
- OAO "Lipetsk Generation Company";
- OAO "Lipetsk Energy Retail Company";
- OAO "Lipetsk Trunk Grids", with shares in Central ITC as its only asset;
– establishment by OAO "Lipetskenergo" of wholly-owned subsidiaries: OAO "Electrosetstroy", OAO "IPC-Lipetskenergo", NOU "Medical Training Center", and OAO "Lipetskenergoremont";
– transfer of the power grid facilities owned by OAO "Lipetskenergo" which are part of the Unified National Power Grid (UNPG) as consideration for the additional shares in Central Interregional Transmission Company (Central ITC) pursuant to the decision of the Board of Directors of RAO "UES of Russia" of 15 August 2002;
The Board has approved the procedure for pro-rata distribution of shares in Central ITC owned by OAO "Lipetsk Trunk Grids" among its shareholders in the process of liquidation of OAO "Lipetsk Trunk Grids" or its merger with and into Central ITC.
The Board of Directors also resolved that the power distribution networks that are not part of the UNPG are to remain the property of OAO "Lipetskenergo".
The Board of Directors approved the transfer of functions of the one-man management bodies (i.e. CEOs) of OAO "Lipetsk Regional Generation Company" and OAO "Lipetsk Energy Retail Company", and OAO "Lipetskenergo" to OAO "Lipetsk Energy Management Company".
The Board instructed RAO UES representatives to vote for the approval of the items of business of Board meetings and shareholder meeting of OAO "Lipetskenergo", and shareholder meetings of the newly established companies, that are required to ensure implementation of OAO "Lipetskenergo" reorganization plan.
Also, the Board of Directors invalidated the decision of the Board of Directors of RAO "UES of Russia" on the Draft Restructuring Plan for OAO "Lipetskenergo" of 21 June 2002.
The Board of Directors authorized the Management Board to hold negotiations with shareholders of OAO "Lipetskenergo" and, if necessary, make proposals regarding changes to the energo's Draft Restructuring Plan.
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The Board of Directors approved "Agreement on Cooperation among RAO "UES of Russia", Moscow City Government, Moscow REC, and OAO "Mosenergo" in the Process of Restructuring Electricity Complex of Moscow City" and "Agreement on Cooperation among RAO "UES of Russia", Moscow Region Government, Moscow Region Energy Commission, and OAO "Mosenergo" in the Process of Restructuring Electricity Complex of Moscow Region".
The Board of Directors authorized the Chairman of the Management Board of RAO "UES of Russia" to make amendments to these Agreements relating to the timeframes for the implementation of OAO "Mosenergo" restructuring project and sign the relevant Supplementary Agreements without submitting them for approval by the Board of Directors of RAO "UES of Russia".
The Board of Directors instructed the Management Board to submit the Agreements for [regulatory] review by the Ministry for Anti-monopoly Policy and Support of Entrepreneurship of the Russian Federation.
You may view full texts the Agreements on RAO UES website:
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The Board of Directors approved the "Methodology and Guidelines for Evaluation of Business and/or Assets of RAO "UES of Russia" and its Subsidiaries and Dependent Companies (SDCs)" and instructed the Appraisal Committee of the Board to revise it taking into account the comments made by the Board.
The Methodology seeks to establish a uniform approach and assumptions when determining the market value of business and/or assets in the electricity industry. The Methodology will be used for evaluation of the core lines of business and assets of: Energy Retail Companies, Grid Companies (Interregional Distribution Companies (IDCs), Interregional Transmission Companies (ITCs)), Generation Companies (Territorial Generation Companies (TGCs), Wholesale Generation Companies (WGCs)).
Deloitte & Touche has been advisor to RAO "UES of Russia" in the development of the Methodology since May 2002. The Methodology includes the following:
- description of the appraisal approaches and methods, recommendations to appraisers regarding the choice and use of the corresponding approach and method when evaluating a particular class or kind of assets/business, and description of steps to be taken by an appraiser when using a particular appraisal method;
- algorithms and examples of calculating the key value factors;
- description of principal approaches to the analysis, with account taken of economic background.
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The Board of Directors noted the information on the arrangements made to obtain insurance of the property owned by the Holding's entities, and to develop and improve the system of insurance at RAO "UES of Russia".
Common insurance principles and implementation procedures have been worked out for the purpose of improving efficiency of the insurance coverage for energy companies' production assets in the course of the industry reform at RAO "UES of Russia".
In 2001, only 38% of all RAO UES entities insured their property, whereas in 2002 the percentage was 85%, and today it is about 90%, 91.3% out of which apply common standards. During the period of corporate standards implementation, the cost of property insurance services fell by one half.
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The Board considered the issue "On the Procedure for taking decisions aimed at lowering the degree of affiliation of regional energos or AO-power plants' repair and maintenance companies".
The Board deems it advisable to sell shares in all repair and maintenance (R&M) subsidiaries held by regional energos or AO-power plants to persons not related to RAO "UES of Russia" or its SDCs, or to found integrated companies on their basis, with their shares held by regional energos, AO-power plants to be subsequently sold by Q4 2004.
However, the Board of Directors considers it unadvisable to reduce the degree of affiliation for certain regional energos and AO-power plants until 2005. These include OAO "Bureyskaya HPP", OAO "Geotherm", OAO "Zaramagskie HPPs", OAO "Zelenchukskie HPPs", OAO "Ingushenergo", OAO "Kolymaenergo", OAO "Nurenergo", OAO "Sulakenergo", and OAO "Taimyrenergo".
Before Q3 2004, it is also inadvisable to lower the degree of affiliation of the R&M companies being established on the basis of R&M units of OAO "Mosenergo", OAO "Tyumenenergo", OAO "Lenenergo", OAO "Sverdlovenergo", OAO "Kuzbassenergo", OAO "Samaraenergo", OAO "Permenergo", OAO "Chelyabenergo", OAO "Krasnoyarskenergo", OAO "Nizhnovenergo", OAO "Kamchatskenergo", OAO "Kurganenergo", OAO "Sakhalinenergo", and OAO "Ulyanovskenergo". The Board of Directors instructed the Management Board of RAO "UES of Russia" to submit their proposals on measures to reduce the degree of affiliation of these regional energos' R&M companies for approval by the Board not later than Q3 2004.
The Board charged Deputy Chairman of RAO UES Management Board Vyacheslav Voronin, Deputy Chairman of the Management Board of RAO "UES of Russia" and Chairman of the Management Board of OAO "UES FGC" Andrey Rappoport, to prepare and submit for approval by the Board of Directors of RAO "UES of Russia", not later than Q1 2004, a list of R&M subsidiaries of regional energos specializing in power grid repair and maintenance, for which such reduction of affiliation degree is impractical.
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The Board of Directors approved the purchase by RAO "UES of Russia" of 110 million ordinary shares in OAO "Yakutskenergo", par value RUB1 per share, for a total value of RUB110 million, and the Contract for purchase/sale of Yakutskenergo shares.
In 2001, RAO "UES of Russia" allocated RUB21 million and RUB39 million in funds needed to liquidate the consequences of the flood that hit the Republic of Sakha (Yakutia) in May 2001 and to restore Deputatskaya Power Plant of OAO "Yakutskenergo", respectively. OAO "Yakutskenergo" offered RAO "UES of Russia" to purchase 60 million additional shares in OAO "Yakutskenergo", whose issue was registered with the FCSM of Russia, at the par value of RUB1 each.
The Board of Directors also deemed it advisable for RAO "UES of Russia" to purchase 50 million shares in OAO "Yakutskenergo" valued at RUB50 million. The funds needed to purchase Yakutskenergo shares have been earmarked for that purpose in the 2003 capital construction plan.
Russia's Financial Service for Financial Rehabilitation and Bankruptcy (FSFO) gave approval for the purchase by RAO "UES of Russia" of shares in OAO "Yakutskenergo" at RUB1 each.
The authorized share capital of OAO "Yakutskenergo" is RUB8,765,952,904 and is divided into shares of par value RUB1 each. RAO "UES of Russia" holds a 49% stake in the Company. Upon purchase of the additional shares, RAO "UES of Russia" will hold 49.64% stake in OAO "Yakutskenergo".
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The Board of Directors approved the "Material Terms and Conditions of the Agreement to Run OAO "Severo-Zapadnaya CHPP". This item of business was considered pursuant to the decision of the Board of Directors of RAO "UES of Russia" of 26 September 2003.
The Material Terms and Conditions have been worked out on the basis of the standard agreement approved by the Board of Directors of RAO "UES of Russia".
The Material Terms and Conditions envisage, among other things, the following:
- The management company shall assume the powers of the one-man management body (CEO) of OAO "Severo-Zapadnaya CHPP" within the scope and subject to the limitations established by the laws currently in force [in the Russian Federation];
- the Agreement shall remain in effect for 3 years;
- the management company undertakes to raise funds needed to complete the construction of the second generation unit at OAO "Severo-Zapadnaya CHPP" and the heating main;
- the management company may not be creditor to OAO "Severo-Zapadnaya CHPP";
- the management company may not acquire ownership of the property of or shares in OAO "Severo-Zapadnaya CHPP" or take part in issuance of additional shares of that Company for 5 years.
It was resolved that the terms and conditions of funding proposed by the management company are to be submitted for approval by the Board of Directors.
The Board of Directors also approved the "Terms and conditions of the Agreement between RAO "UES of Russia" and the winner of the tender to select a management organization to run OAO "Severo-Zapadnaya CHPP".
Pursuant to the "Procedure for Holding a Tender to Select a Management Company to Run OAO "Severo-Zapandaya CHPP" approved by the Board of Directors of RAO "UES of Russia" on 26 September 2003 (Board Minutes No. 150), a separate agreement is to be made between RAO "UES of Russia" and the tender winner.
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The Board of Directors approved the participation of RAO "UES of Russia" in the establishment of Non-profit Partnership "Koordinator Rynka Gaza" ("Gas Market Coordinator" - NP "KRG"). The contribution to the [capital of the] Partnership will be RUB2 million and will be paid in cash.
NP "KRG" is being established within the framework of the gas industry reform in Russia on the initiative of OAO "Gazprom" and the Russian Union of Industrialists and Entrepreneurs (RUIE).
The key functions to be performed by NP "KRG" will be as follows:
- working out proposals to secure gradual transition to a free market for gas, determining the volumes (limits) of the regulated market segment for consumer groups and individual gas consumers;
- working out rules and regulations covering the operation of the unregulated gas market segment ("the Network Code");
- working out proposals regarding the system of relationships among the gas market participants;
- monitoring compliance by the market participants with the rules and regulations of the gas market, and possibly, establishing a specialized Tribunal of Arbitrators;
- working out a procedure for calculating gas transportation tariffs to be submitted for approval by the Government of the Russian Federation.
Currently, the RUIE Task Force for establishment of NP "KRG" (which includes representatives from RAO "UES of Russia") is working on the Charter of NP "KRG" and proposals on the organizational structure of the Partnership.
Among those who expressed an interest in taking part in the establishment of NP "KRG" were such companies as OAO "Gazprom", OAO "LUKoil", OOA "YUKOS Oil Co.", OAO "SIBUR", OAO "Rosneft Oil Co.", OAO "Novolipetsk Metallurgical Plant", MDM Group, OAO NGK "ITERA", the Union of Independent Gas Producers, ZAO "Complex Energy Systems", and others.
RAO "UES of Russia" is a major gas consumer and initiator of the electricity sector reform, which is why it is advisable for RAO "UES of Russia" to be a co-founder of the Partnership and have its representatives on the management bodies of NP "KRG".
CONTACTS: TEL.: (095) 710-54-14, FAX: (095) 710-52-65
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