Vitaly Kuzmin, AO MOSENERGO's deputy general director for sales, spoke about company results in 2002. According to Kuzmin, AO MOSENERGO shipped to consumers 56.9 bln kWt-h of electricity, which is 5.2% more than in 2001. In 2002, AO MOSENERGO delivered 66.5 mln GCal of electricity – 1.3% less than in 2001. AO MOSENERGO reduced losses in its grids (excluding municipal grids) by 5.01%, as compared to a similar period last year. The total cumulative losses in AO MOSENERGO grids amounted to 12.89% (8881.13 kWt-h). In total, the company discharged to the grid 68,903.29 mln kWt-h of electricity.

The cost of AO MOSENERGO's electricity shipped to its own consumers was 61,377.2 mln rubles (including VAT), which is 22.6% higher than in 2001. The company sold 62,157.7 mln rubles worth of electricity and heat (101.3% of total shipped power).

According to Kuzmin, AO MOSENERGO's key achievement last year was that the company managed to ensure timely payments for consumed power. About 99.9% of AO MOSENERGO's consumers pay on time, Kuzmin said. In addition, the number of non-payers among industrial enterprises decreased. It is especially important at this stage, when the company can afford to purchase assets using funds from sold power, Kuzmin stressed.

As a result of these measures, in 2002 the company's receivables from federal budgetary organizations decreased by 464.43 mln rubles (by 68%) as compared to the beginning of the last year. The Ministries of Defense, Health, Interior as well as the Russian Academy of Sciences have all redeemed their debts. As of January 1, 2003, the Ministries of Defense, Justice and Education still owed a total of 218.66 mln rubles to AO MOSENERGO.

As of January 1, 2003, the organizations that are funded from the Moscow budget owed 53.86 mln rubles to AO MOSENERGO. Settlements with these organizations are carried out through the Moscow Treasury, with AO MOSENERGO submitting payment documents in accordance with existing procedures.

In 2002, the Moscow Center for Housing Subsidies transferred to AO MOSNERGO 76.87 mln rubles compensation from the Moscow Government for electricity and heat subsidies to low-income citizens. The payment was ordered by the Moscow Government in accordance with amendments to Regulation No. 30.01.2001 No. 99-PP "On Improving the Housing Subsidy System" which were introduced last May.

Last year, AO MOSENERGO sold 89.83 mln rubles worth of electricity and heat to Moscow regional social organizations (104.39% of total shipped power). The company's receivables from these organizations decreased by 3.78 mln rubles. As of January 1, 2003, the debt of Moscow regional social facilities amounted to 19.59 mln rubles.

In 2002 the company's debt decreased by 14%. As of January 1, 2003, it amounted to 8,690.4 mln rubles.