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Rosseti Volga

February 19, 2016

Electricity debts jeopardize energy security of Chuvashia

The situation with non-payments for electricity transmission services in the Republic of Chuvashia continues to remain tense. As of February 01, 2016, the total debt of contractual partners to IDGC of Volga, PJSC reaches 1,073.7 million rubles. Chuvash Power Sales Company, JSC (CPSC) remains a main debtor. At this moment, the total amount of undisputed debts (exclusive of services provided in January 2016) reaches 785.6 million rubles. Such payment defaults are likely to disrupt operations during the autumn and winter periods – and to put at risk implementation of the annual repair program. Ultimately, electricity debts jeopardize energy security of the entire region.
Chuvashenergo, a branch of IDGC of Volga, PJSC (a member of Rosseti Group of Companies), makes every effort to collect the overdue account – through pre-suit negotiations or in an action at law. Starting form the first event of default, Chuvashenergo branch filed 14 lawsuits in court to recover CPSC debts to the total amount of 1,034.6 million rubles.
In its turn, in spite of increasing debtor indebtedness, Chuvashenergo, a branch of IDGC of Volga, PJSC, fulfills in good faith its financial commitments to related local grid companies of the Chuvash Republic – in full compliance with the applicable tariff model.
One should recall that Federal Law No. 307-FZ dated November 03, 2015 "On amendments to certain legislative acts of the Russian Federation in connection with the strengthening of the payment discipline of energy resources consumers" from 2016 provides for increased late payment charges.

 

 

 

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