Moscow, 12 January 2009. Beginning on January 11, OJSC INTER RAO UES began supplying electric power to the Republic of Belarus in accordance with the commercial agreements signed earlier with the Belenergo State Production Association.

The agreements have been signed for the period of five years and provide for supply of up to 5 billion kWh of electric power to Belarus. Of the above amount, 3 billion kWh are guaranteed and are supplied at prices and schedule that are adjusted annually. Up to 2 billion kWh are to be supplied based on economic needs of the parties based on daily planning and agreed delivery schedule. While working on the documents, the parties have found the best mutually beneficial solution, which takes into account the specifics of functioning of the Russian and Belarusian energy systems.

At the time of signing the commercial agreements, the Belarusian and Russian electric power companies signed a five-year agreement for transit of power generated by OJSC INTER RAO UES using the unified power system of Belarus based on the new long-term arrangements for transit payments.

The signed documents give start to a large-scale program for long-term cooperation between Belenergo and OJSC INTER RAO UES. As was earlier reported, for the first time ever the relations between the two energy companies are being built not only on commercial agreements, but also provide for the development of new areas of cooperation.  These areas include joint conduct of transactions on the foreign markets of electric power and implementation of investment projects in the area of engineering.

A joint venture between Belenergo and INTER RAO UES could become a tool in implementation of this program. In the course of signing the commercial agreements, the sides have re-affirmed their commitment to look into the fundamental issues of establishing such a joint venture prior to the end of January.