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October 22, 2003

AO MOSENERGO asks the Moscow Government for help in resolving the problem of municipal heating debts

AO MOSENERGO sent a letter to the Moscow Mayor Yuri Luzhkov asking him to help with resolving the problem of heating debts on the part of a number of large municipal consumers. Today, the total debt for consumed heat exceeds 200 mn rubles.

Today, around 100 municipal consumers owe debts to AO MOSENERGO for heat consumed last winter. Despite the ongoing violations of the payment obligations by debtors, AO MOSENERGO continued to provide heat to them until the end of the heating period. AO MOSENERGO spent hundreds of millions of rubles to produce heat that was never paid for, though the price did not even cover the production costs.

During the summer debtors did not prepare for the new heating season. Most debtors have not redeemed the old debts. Despite numerous attempts by AO MOSENERGO to resolve the debt problem (the company put forward restructuring proposals, conducted negotiations, appealed to supervising institutions and courts), the debtors did not meet AO MOSENERGO's demands. During the summer maintenance campaign AO MOSENERGO carefully prepared for the heating season. The company checked heating grids, replaced worn-out sections, repaired electric and mechanical equipment. In order to check the readiness of the heating system for the next heating season, in late September AO MOSENERGO started trial heating supplies to customers including debtors.

Currently, AO MOSENERGO provides heat to all consumers that have no debts. The Company recommends debtors to drain water from the system and other heating equipment and empty heating units to avoid damage to the communication when the colder weather comes.

AO MOSENERGO is confident that the active involvement of the Moscow government and the resolution of the debt problem will make it possible for the city to live through the winter without incident.





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