As part of a working trip to Pyatigorsk the CEO of Russian Grids JSC Oleg Budargin held a meeting with the leaders of the production, investment and financial and economic blocs of the JSC IDGC Northern Caucasus during which the results of the activities of the Russian Grids JSC subsidiary in the first half of 2014 were summed up.

Oleg Budargin pointed out that the previously adopted anti-crisis measures which were aimed at improving the JSC IDGC Northern Caucasus are being implemented but not fast enough. He demanded a quick increase of the rate of systems reorganizations.

First of all, we need to focus on reducing costs, including production costs, emphasized Oleg Budargin.

At present, only 63% of repair works are being carried out by JSC IDGC Northern Caucasus experts. According to the JSC Russian Grids CEO, the maximum amount of repairs should be carried out in-house, i.e. by using the resources of JSC IDGC Northern Caucasus without engaging outside contractors. "This will significantly reduce work costs", - said Oleg Budargin.

The CEO set out another important task for the JSC IDGC Northern Caucasus – a sharp decrease of loss showings incurred during the transmission of electricity. Excessive losses are out of the question.

According to Oleg Budargin, another important step towards implementing the anti-measures of the JSC IDGC Northern Caucasus should be the enhancement of the administration apparatus, including the centralization of several functions which are now delegated to the branches of the company, and the improvement of management efficiency.

Summarizing the results of the meeting, Oleg Budargin gave the JSC IDGC Northern Caucasus one week to prepare a plan to address the indicated problems and meet the specific task requirements.