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Rosseti North-West

August 2, 2007

RAO UES of Russia approved the Annual Report of JSC IDGC of the North-West

The Report represents key financial, corporate and production results of the management company for 2006.

The Management Board of RAO UES of Russia approved the Annual Report of JSC IDGC of the North-West. The Report represents key financial, corporate and production results of the management company for 2006.

The report shows that the state of the power companies belonging to the zone of responsibility of JSC IDGC of the North-West is characterized by a high level of financial stability according to the results of 2006. The dependent companies received "B+" rating in the end of 2006 for the first time.

The Annual Report reveals positive dynamics of investment appeal of companies dependent in relation to IDGC of the North-West. IDGC of the North-West aims to increase the volume of commercially effective investment projects and concentrate on formation of highly profitable assets.

In 2007 the number of priority directions of IDGC of the North-West includes formation of an integrated company meeting international standards of corporate governance. Delegation of power of the sole executive body of the companies dependent in relation to IDGC of the North-West will become a transient phase in the integrated company formation. It is planned to conclude contracts for delegation of power of the sole executive body with JSC Komienergo, JSC Novgorodenergo, and JSC Pskovenergo for this purpose till the end of 2007.

 

 

 

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