Under the agenda, the II quarter 2009 Report on credit policy of OJSC “MOESK” has been approved. In the II quarter 2009, credit and other liabilities in the amount of RUR 7,104.07 million have been paid timely and in full amount. All interest payments for involved money funds totally equal to RUR 1,144.64 million have been paid in the II quarter 2009 as well.

The Board of Directors of OJSC “MOESK” has charged the Company’s  to take all necessary steps to shift to the RAB-method regulation of tariffs for electric energy transmission services starting from 1 January 2010. Taking into account importance of the decision, the  is to provide the Board of Directors with monthly reports on its implementation starting from October 2009 up to adoption of the corresponding decision by the Moscow city Regional Energy Commission and the Moscow Region Fuel and Energy Committee.

 To remind, the Committee for Strategy and Development under the Board of Directors of OJSC “MOESK” has approved the decision at its last meeting. Under the shift towards RAB, the Company has carried out all necessary measures under shift to the RAB-method such as estimation of the basic capital base, implementation of meetings with regulators in Moscow and the Moscow Region, formation of long-term investment program, and calculation of long-term operational costs.

Within the frameworks of the financial crisis, the shift to RAB will allow for solving the problem of the Company’s investment program financing, increasing in consumers’ electric energy supply reliability and investment attraction of the Moscow Region.