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Rosseti Volga

June 14, 2016

Failures to pay for power transmission services may lead to infrastructure collapse in the Saratov region

Despite the complicated financial situation that IDGC of Volga, PJSC finds itself in due to failures to pay by unfair contractors, the socially responsible company keeps performing its duties of implementation of repair and investment programs, as well as paying the tax payments, contributions to non-budgetary funds, paying for contractor services according to the agreements as part of production activities, etc. However, the company is not in a fit state to procure financial reserves against its own activities. The problem of payment failures to IDGC of Volga, PJSC should be solved systematically, as contractor's unsatisfactory repayment discipline can lead to destabilization of operation of the Saratov region power-transmission system.

NESK, CJSC is one of the big debtors of IDGC of Volga, PJSC. Due to systematic failures to perform their responsibilities of payment for power transmission services since September 2015, the company has got a past due debt before IDGC of Volga, PJSC in the amount of about 35 million rubles. NESK, CJSC completely ignores written requests on the necessity of debt service payments and deadline management of the performance of obligations, does not take any measures to change the situation and does not provide any warranty liabilities of the debt reduction. Moreover, NESK, CJSC has been making payments to IDGC of Volga, PJSC only in compliance with orders of enforcement since August 2011. Another delinquent payer of IDGC of Volga, PJSC is SPGES, CJSC. As of July 1, 2016, the past due debt of this company for provided power transmission services for April of the current year is 45 million rubles.

The negative "record" of payment failures is held by a company which is a last resort supplier in the Saratov region — Saratovenergo, PJSC. Only for the last April, the retail company did not pay to IDGC of Volga, PJSC 259.3 million rubles. If the funds from Saratovenergo, PJSC do not arrive by June 22, 2016, the total debt amount will exceed 800 million rubles. Moreover, Saratovenergo, PJSC does not provide any constructive suggestions as to debt service payments. Thus, the last resort supplier practically admits being not capable of performing its main functions.

Continuation of the non-payment policy may lead to extremely negative consequences not only for the region, but also for the debtors themselves. With the entry into force of Federal law No. 307-FZ dated November 3, 2015, the amounts of penalties and late charges increased significantly, and the increase of the main debt leads to the increase of the fine amounts. As a result, the debts may exceed the companies' capabilities of paying them.

 

 

 

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