Starting from August 2015 and up to date, the situation with customer payments for electricity transmission services provided by Chuvashenergo, a branch of IDGC of Volga, PJSC, keeps getting worse and worse. The distribution company carries out active claims-related activities, but collecting debts can take a long time. Chuvash Power Sales Company, JSC, a Provider of Last Resort (POLR) in the Chuvash Republic, remains one of the major debtors.
As of today, the total amount of unchallenged debts payable by Chuvash Power Sales Company, JSC to Chuvashenergo, a branch of IDGC of Volga, PJSC (a member of Rosseti Group of Companies), amounts to 785.6 million rubles. Besides, Chuvash Power Sales Company, JSC attempts to challenge the validity of debt amounting to 107 million rubles.
Such persistent failure to meet the payment discipline cannot be attributed to temporary financial difficulties of this electricity retailer. In fact, the POLR fails to meet its payment obligations. The total amount of electricity transmission charges payable by Chuvash Power Sales Company, JSC for the period from June to December 2015 is 1,795.9 million rubles. Out of this amount, only 600 million rubles were repaid in cash, and indebtedness in the amount of 419 million rubles was cancelled by offsetting of mutual obligations.
Such position taken by the POLR is a destabilizing economic factor. Being committed to social responsibility, IDGC of Volga, PJSC performed its financial obligations to downstream local grid companies (LGC) in due time despite failure of its contractors to make payments. But at this time failure of the POLR to make payments may result in suspension of payments to TDC. The current situation endangers safe operations during the autumn and winter season and the forthcoming large-scale repair campaign across the electrical grid complex of the Republic of Chuvashia.