Today, during their meeting, the Director General of JSC Rosseti - Oleg Budargin - and the Director General of the Russian Direct Investment Fund (RDIF) - Kirill Dmitriev - announced the beginning of the practical implementation of Intelligent Networks Construction Joint Project.

The Project is being implemented within the framework of the agreement, signed between Rosseti and RDIF at the St. Petersburg International Economic Forum in 2014.

The Parties are planning to install about 223 million smart electricity meters, which will allow to strengthen the fight against illegal connections to the grid, to reduce losses, to develop mass production of high-tech devices in Russia and will provide for consumers with a number of advantages.

"It is the first time when such a project is being implemented. Due to the support of RDIF, Rosseti is beginning the first phase of implementation of the All-Russian Programme of Smart Metering and Electricity Control Provision. Such system will allow to manage the infrastructure of the Russian power industry more efficiently: from generation to a consumer. The economic effect from the Project implementation will restrain the growth of tariffs, at that a consumer will get a number of advantages, including an ability to plan and manage power consumption remotely," said Oleg Budargin.

In his turn, Kirill Dmitriev, noted: "In addition to an important social component, the Project allows to improve the efficiency of the Russian energy sector (and the economics as a whole) significantly. Moreover, the developed structure of the Project guarantees repayment and profitability of NWF funds, attracted for its financing."

At the first phase, the Project will be implemented in three regions: Kaliningrad, Tula and Yaroslavl regions, while total investment to the Project at this phase will amount to 2.7 billion roubles. It is expected that the reduction of electricity losses will save about 400 million roubles per year in all three regions. According to the schedule, the equipment commissioning is expected to be finished by 2017. The Project implementation will help to save funds for Rosseti's subsidiaries and direct them to further grids modernization.

For Reference

According to preliminary estimates, in regions with the highest losses, their volume is planned to be cut in half. So, in Kaliningrad region the economic effect will amount to 138 million kWh per year. In Tula region it is planned to reduce losses by 44.7 million kWh per year. In Yaroslavl region the volume of losses will be reduced by 172 million kWh in 10 municipalities.