Moscow, 24 April 2008. Today, RAO "UES of Russia" held the Investment Session to assess the progress made in implementing the investment programmes of thermal generation companies . The Session was chaired by RAO UES CEO Anatoly Chubais.
The companies' performance was assessed using three grades, "good", "satisfactory", and "poor".
As a result of the review, all generation companies received "good" or "satisfactory" grades.
The only generation company to be given a negative assessment was OAO "Mosenergo". Such low result was due to the fact that Mosenergo's Board of Directors did not approve a number of investment projects to be implemented within the next 2-4 years. This jeopardizes the implementation of the programme for the development of the energy system in one of the most rapidly growing regions where electricity consumption is increasing steadily. In 2007, the electricity demand grew by 3.3% and in Q1 2008, by 5.4%.
* The assessment was conducted based on the following parameters: status of feasibility studies, status of the companies' business plans, availability of contracts for the supply of equipment and fuel and delivery of capacity, selection of EPC- and EPCM contractors, and the preparedness of land plots. Another aspect assessed was adherence to the approved construction and installation schedules.