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MOSENERGO (TGC-3)

April 23, 2002

On April 23, AO MOSENERGO is to restrict power supply to the indebted AMO ZIL

As of today, ZIL owes 24,750,800 rubles for the electricity consumed in September 2001 through March 2002. ZIL has not fulfilled debt redemption agreements signed earlier with the Moscow Power Company. Under the most recent schedule, the company had to pay all debts to AO MOSENERGO by end of March 2002. However, only part of this money was transferred and late—in early April, after the company received a notification of the forthcoming electricity cut-off at the plant. The amount that was received by AO MOSENERGO (14 million rubles) was only 30% of the required amount. After that ZIL made no further payments.

Due to the violation of the electricity supply agreement and later arrangements, AO MOSENERGO has to take radical measures. On Tuesday, April 23, the electricity supply to the plant will be completely stopped. AO MOSENERGO expects that for some time the plant will continue to use the power generated at its own power station (TEZ).

Earlier, AO MOSENERGO had to limit the power supply to ZIL through a 110 kV line and several 10 kV lines, in order to influence the debtor.

AO MOSENERGO has to request that ZIL (like other electricity consumers) firmly abide by the terms of the electricity supply agreement. If these requirements are not met, AO MOSENERGO has no intention of continuing to supply power to the plant.

 

 

 

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