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ROSSETI

June 18, 2014

Russian Grids Board of Director’s Meeting

The Russian Grids Board of Directors held an in-person meeting. During the meeting, members heard a report on the execution of the company’s consolidated investment programme as of the fourth quarter of 2013, as well as for 2013 as a whole, members examined the issue of amending legal regulations pertaining to anti-corruption activities, approved the Policy of interacting with the public, consumers and authorities as well as the Human Resources and Social Policies.

The Board examined a report on the execution of the company’s consolidated investment programme for 2013 which was executed in full for all indicators. In 2013, a total of 22,346 MVA of transformer capacity and 30,843 km of power lines were put into operation. Actual financing amounted to 313.5 billion roubles in 2013. New capital assets for the reporting period amounted to 312.3 billion roubles.

In 2013, the company’s efforts to improve its system of managing procurement saved 18.1 billion roubles or 7.7% of the planned cost of procurement.

While examining the issue on amending the legal regulations of the company’s anti-corruption activities, the Board made a decision to modify a host of legal regulations and to prepare proposals to improve the Company’s Anti-Corruption Policies.

Furthermore, the Board of Directors also approved the company’s Policy of interacting with the public, consumers and authorities as well as the Human Resources and Social Policies.

The Policy of interacting with the public, consumers and authorities is aimed at implementing a road map on improving accessibility of the energy infrastructure, creating and developing a system of public control over company operations as a natural monopoly, improving investment appeal and the company’s informational transparency as well as developing international ties.

The company’s Human Resources and Social Policy provides for clearly planning the number of personnel, ensuring personnel have the necessary qualifications and effectiveness as well as increasing workforce productivity.

 

 

 

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