August 11, 2017. Moscow, Russia.
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY)
announces that the Company's Board of Directors held a meeting in
absentia on August 10, 2017.
Key highlights:
Yury Trutnev re-elected as Chairman of the
Board of Directors;
The Board of Directors elected all of the
committees and chairmen;
The Board of Directors resolved to cancel
Leningradskaya pumped storage investment project;
The Board of Directors approved gratuitous
targeted contributions to budgets of Far East Federal District
regions as part of the mechanism to lower end-user tariffs in the
region;
The Board of Directors approved
additional agreement to General contractor agreement for
construction of Yakutskaya TPP-2.
***
The Board of Directors re-elected Deputy Chairman
of the Government of the Russian Federation – Plenipotentiary
Representative of the President in the Far Eastern Federal District
Yury Trutnev as its Chairman.
***
The Board of Directors elected Sergei Ivanov as
Deputy Chairman to the Board of Directors.
***
The Board of Directors elected following members
to the Far East energy development Committee:
1.
|
Yury Trutnev
|
Deputy Chairman of the Government of the Russian Federation –
Plenipotentiary Representative of the President in the Far Eastern
Federal District
|
2.
|
Igor Zadvornov
|
Head of the Office of the Deputy Chairman of the Government of the
Russian Federation — Plenipotentiary Representative of the
President in the Far Eastern Federal District
|
3.
|
Alexei Chekunkov
|
Director General, JSC Far East Development Fund
|
4.
|
Pavel Grachev
|
President, PJSC Polyus
|
5.
|
Vyacheslav Kravchenko
|
Deputy Minister of Energy of the Russian Federation
|
6.
|
Vladimir Tupikin
|
Deputy Chairman of the Management Board, NP Market Council
|
7.
|
Alexey Mol’sky
|
Deputy Chairman of the Management Board, PJSC FGC UES
|
8.
|
Sergei Kachayev
|
Deputy Minister for the Development of the Russian Far East
|
9.
|
Denis Pilienks
|
Deputy Director for Development, JSC System Operator of the United
Power System
|
10.
|
Mikhail Kolesnikov
|
Vice-President, Chairman of Committee on energy industry, the
all-Russian non-governmental organization of small and medium
business OPORA RUSSIA
|
11.
|
Denis Konstantinov
|
Expert, Department of tariff regulation, infrastructure reforms
and energy efficiency, Ministry of Economic Development of Russia
|
12.
|
Andrey Kazachenkov
|
Member of Management Board, First Deputy Chairman of the
Management Board, PJSC RusHydro
|
13.
|
Sergey Tolstoguzov
|
Deputy General Director for the Far East – Director of Division
‘Far East’, PJSC RusHydro
|
The Board of Director re-elected Yury Trutnev as
Chairman of the Committee.
***
The Board of Directors elected following members
to the Strategy Committee:
1.
|
Igor Zadvornov
|
Head of the Office of the Deputy Chairman of the Government of the
Russian Federation — Plenipotentiary Representative of the
President in the Far Eastern Federal District
|
2.
|
Pavel Grachev
|
President of PJSC Polyus
|
3.
|
Nikolai Rogalev
|
Rector, National Research University "Moscow Power
Engineering Institute"
|
4.
|
Sergey Shishin
|
Senior Vice-President of the VTB Bank (PJSC)
|
5.
|
Nikolai Shulginov
|
Chairman of the Management Board - General Director, PJSC RusHydro
|
6.
|
Vyacheslav Pivovarov
|
General Director, LLC Altera Capital
|
7.
|
Andrei Gabov
|
Acting Deputy Director, Head of Department, Department of tariff
regulation, infrastructure reforms and energy efficiency, Ministry
of Economic Development of Russia
|
8.
|
Eugenia Stolyarova
|
Head, Department of property relations and large-scale
privatization of The Federal Agency for State Property Management
(Rosimushchestvo);
|
9.
|
Pavel Snikkars
|
Director, Department of power industry development, Ministry of
Energy of Russia
|
10.
|
Alexandra Bogasheva
|
Deputy Director, Department for corporate governance, pricing and
oversight, Ministry of Energy of Russia
|
11.
|
Boris Livshits
|
Deputy head, Competitive pricing development department, NP Market
Council
|
12.
|
Vasily Nikonov
|
Head of energy department, PJSC Rosneft
|
13.
|
George Rizhinashvili
|
Member of the Management Board, First Deputy Chairman of the
Management Board, PJSC RusHydro
|
The Board of Director elected Igor Zadvornov
Chairman of the Committee.
***
The Board of Directors elected following members
to Audit committee:
1.
|
Maxim Bystrov
|
Chairman of the Management Board, NP Market Council
|
2.
|
Sergei Ivanov
|
General Director, LLC RT-Capital
|
3.
|
Vyacheslav Pivovarov
|
General Director, LLC Altera Capital
|
The Board of Director elected Sergei Ivanov
Chairman of the Committee.
***
The Board of Directors elected following members
to Nominations and Compensation Committee:
1.
|
Maxim Bystrov
|
Chairman of the Management Board, NP Market Council
|
2.
|
Sergei Ivanov
|
General Director, RT-Capital
|
3.
|
Vyacheslav Pivovarov
|
General Director, LLC Altera Capital
|
The Board of Director elected Vyacheslav Pivovarov
Chairman of the Committee.
***
The Board of Directors elected following members
to the Investments Committee:
1.
|
Maxim Bystrov
|
Chairman of the Management Board, NP Market Council
|
2.
|
Sergei Ivanov
|
Member of RusHydro’s BoD, General Director of LLC RT-Capital
|
3.
|
Vyacheslav Pivovarov
|
General Director, Altera Capital
|
4.
|
Nikolai Rogalev
|
Rector, National Research University "Moscow Power
Engineering Institute"
|
5.
|
Alexei Chekunkov
|
Director General, JSC Far East Development Fund
|
6.
|
Andrei Gabov
|
Acting Deputy Director, Head of Department, Department of tariff
regulation, infrastructure reforms and energy efficiency, Ministry
of Economic Development of Russia
|
7.
|
Sergei Zhuravlev
|
Vice-President (GR), PJSC Polyus
|
8.
|
Denis Milyutin
|
Head, Directorate for control of energy resources costs of Energy
Department, PJSC Rosneft
|
9.
|
Pavel Snikkars
|
Director for electric energy development, Ministry of Energy of
Russia
|
10.
|
Andrey Kazachenkov
|
Member of the Management Board, First Deputy Chairman of the
Management Board, PJSC RusHydro
|
11.
|
Sergei Kirov
|
Member of the Management Board, First Deputy Chairman of the
Management Board, RusHydro
|
12.
|
Victor Khmarin
|
Deputy General Director, PJSC RusHydro
|
The Board of Director elected Maxim Bystrov
Chairman of the Committee.
***
The Board of Directors elected following members
to the Committee on reliability, energy efficiency and innovations:
1.
|
Nikolai Rogalev
|
Rector, National Research University "Moscow Power
Engineering Institute"
|
2.
|
Alexei Chekunkov
|
Director General, JSC Far East Development Fund
|
3.
|
Vyacheslav Kravchenko
|
Deputy Minister of Energy of the Russian Federation
|
4.
|
Elena Belchenko
|
Acting Director, Natural Monopolies Relations Department, PJSC
Polyus
|
5.
|
Yuri Vishnevsky
|
Deputy Director for United Power System regime management, JSC
System Operator of the United Power System
|
6.
|
Roman Gromov
|
Head of strategic development, NP Market Council.
|
7.
|
Boris Bogush
|
Member of the Management Board – Chief Engineer, PJSC RusHydro
|
8.
|
George Rizhinashvili
|
Member of Management Board, First Deputy Chairman of the
Management Board, PJSC RusHydro
|
9.
|
Sergey Tolstoguzov
|
Deputy General Director for the Far East – Director of Division
‘Far East’, PJSC RusHydro
|
10.
|
Kirill Frolov
|
Deputy General Director for R&D, PJSC RusHydro
|
11.
|
Nikolay Karpukhin
|
Nikolay Karpukhin, Deputy General Director for Construction, PJSC
RusHydro
|
12.
|
Mikhail Fedorov
|
President, Peter the Great St. Petersburg Polytechnic University
|
The Board of Director elected Maxim Bystrov
Chairman of the Committee.
***
The Board of Directors reviewed status of
development of Leningradskaya pumped storage hydropower plant (PSHPP)
investment project and adopted the following decisions in regards to
the project:
To cancel Leningradskaya PSHPP investment
project in the absence of market mechanisms providing for sufficient
return on investment;
To charge Chairman of the Management Board –
General Director to organize:
development of Leningradskaya PSHPP
liquidation project along with measures of rehabilitation of arable
land and forest lots within construction site of the facility;
implementation of works, related to
liquidation of Leningradskaya PSHPP;
financing of expenses, related to liquidation
of Leningradskaya PSHPP.
***
The Board of Directors approved gratuitous
targeted contributions to budgets of Far East Federal District
regions (Kamchantka Krai, Magadan Oblast’, Yakutia (Sakha)
Republic, Sakhalin Oblast’ and Chukotka Autonomous Region) and
approved respective agreements between RusHydro and the regions. The
purpose of the contributions is leveling electricity (capacity)
tariffs levels in the regions pursuant article 32 of the Federal Law
#35-FZ of 26.03.2003 (Law on electric power industry). According
to the agreements, these regions will use the contributions to
provide subsidies to guaranteeing providers of electricity in the
amount, sufficient to compensate losses, incurred by the providers in
the retail market due to leveling of the tariffs to average values.
The volume of the contributions is set by the Government of the
Russian Federation in accordance with point 1.1 of article 32 of the
Law on electric power industry.
(Note: RusHydro
will use additional revenue from capacity prices’ add-ons approved
by the Russian Government in the amount corresponding to the
necessary targeted contributions)
***
The Board of Directorsadopted decision on
confidential issue, not subject to disclosure.
***
The Board of Directors determined position of
RusHydro’s representative at EGM of JSC Yakutskaya TPP-2 and
approved Additional agreement to General contractor agreement for
construction of TPP-2 (1st phase) of 24.02.2014
#01/ZRUH/13-121293 qualified as major transaction. The Agreement is
to be signed under the following material conditions:
The subject of the agreement: in reference to
changes of the conditions, approved earlier by the EGM of JSC
Yakutskaya TPP-2- increase of the price of the Agreement by RUB
3,126,239,380, including VAT (18%);
The limit price of the Agreement (accounting
for the Additional agreement is RUB 20,507,753,840 including VAT
(18%);
Timing of the Additional agreement: the
agreement enters force since the date of signing by both parties.
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