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January 15, 2015

JSC "ROSSETI" proposed to create regional commissions for monitoring settlements with electrical energy industry companies

JSC "ROSSETI" proposed to create special regional commissions to monitor the status of payments for supplied power energy and services for its transfer to the companies of the electrical energy industry sector. Relevant letters are sent to the heads of 68 constituent entities of the Russian Federation - regions where the subsidiaries of the distribution complex of JSC "ROSSETI" are present. Most regions have already supported the initiative of JSC "ROSSETI".

The urgency of this proposal is dictated by the projected deterioration of payment discipline of consumers of power energy and services for its transmission due to the current macroeconomic situation. Last December, 2014 a number of large consumers of power transmission services - guaranteeing suppliers - seriously breached payment obligations. Operational performance according to calculations for December, 2014 is by 2.5% lower than for the same period of 2013.

Debt amounts are being increased, and it is a concern because it can have a negative impact on the quality and reliability of power supply.

So, as of December 1, 2014 the amount of accrued receivables of consumers to enterprises of distribution complex of Rosseti Group of Companies for power transmission services is 125.9 billion roubles (the growth from the beginning of the year is 24%), including the debt of guaranteeing suppliers - 80.2 billion roubles. Overdue indebtedness amounts to 76.3 billion roubles, including overdue indebtedness of guaranteeing suppliers of 40.9 billion roubles.

The creation of regional commissions with the support of the heads of federal subjects will allow (in current economic conditions) to improve the situation with the payment discipline, improve the financial sustainability of energy companies and co-ordinate the activities of all stakeholders.

It is proposed that the commissions, which during weekly meetings will assess the current situation of mutual settlements for power energy and services for its transmission, shall include representatives of the administration, financial monitoring service, tax service, law enforcement agencies, marketing companies and consumers.

It is planned that commissions will be able to make timely and operational decisions to improve payment discipline and avoid any negative consequences. Their work will strengthen the basis for further provision of smooth and reliable operation and development of power industry companies, as well as for advanced development and creation of conditions for the realization of social and economic potential of the regions.




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