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MOSENERGO (TGC-3)

April 15, 2002

AO MOSENERGO has signed an agreement to transfer Army Central Sport Club (ACSC)’s debt to the Moscow Central Residential Maintenance Division (MCRMD)

Effective April 9, 2002, all settlements involving the power consumed by the ACSC will be handled by the Moscow Central Residential Division (MCRMD). In accordance with the order from the Ministry of Defense all its facilities should pay for electricity through local residential maintenance divisions. Under the agreement, MCRMD assumes the obligation to pay the ACSC debts which currently amounts to 9.7 million rubles by the end of 2002. The first payment (425,000 rubles should be made before April 30).

Prior to this agreement, ACSC management refused to redeem debts to AO MOSENERGO or pay for current consumption. Due to this violation of the electricity supply agreement, AO MOSENERGO had to limit electricity supply to the debtor. The last action was planned for April 8 but did not happen because ACSC refused to allow Energosbyt and Moscow Cable Lines representatives onto ACSC premises in order to access the electrical equipment.

In 2001, AO MOSENERGO signed an agreement with ACSC regarding the redemption of debts. However, at that time ACSC paid only 8,966,000 rubles of 12,500,000 rubles owed. AO MOSENERGO hopes that this time the debtor will abide by the terms of the agreement and pay for current consumption in a timely manner.

 

 

 

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