print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Rosseti North-West REGISTER LOG IN

Press Releases > Rosseti North-West  all about the company

company search
all press releases
all Rosseti North-West press releases

Rosseti North-West

March 27, 2008

Veniamin Pinkhasik: The principle of our operational company is the maximum transparency

General Director of IDGC of the North-West stated the above at the meeting with the regional mass-media in St. Petersburg.

On 26 March, in St. Petersburg, General Director of IDGC of the North-West Veniamin Pinkhasik held a traditional press conference for the regional mass-media. The subject of the press conference: "Regional grid companies in the structure of IDGC of the North-West. Completion of the reform". Participants of the press conference: journalists of the leading regional business newspapers, news agencies, TV and radio.

Veniamin Pinkhasik told representatives of the regional mass-media on results of the reform in the Company which is to be completed on 1 April 2008. In his speech, Head of IDGC of the North-West emphasized main principles of formation of the new operational company which will include 7 regional distribution grid companies operating as branches, and answered the journalists’ questions.

According to Mr. Pinkhasik’s words at opening the press conference, the principle of the IDGC of the North-West operational company is the maximum transparency.
V. Pinkhasik noted that for him it is essentially important to keep brands of the distributive network companies on the territories everybody got used to.

'All our seven companies - Arkhenergo, Vologdaenergo, Karelenergo, Kolenergo, Komienergo, Pskovenergo, and Novgorodenergo since 1 April will keep their traditional names, but lose the status of joint-stock companies and become branches of IDGC of the North-West', V. Pinkhasik explained.

According to his words, the operational Interregional Distribution Grid Company becomes one of the largest companies in the region. The total capital stock of IDGC of the North-West will equal 9.6 billion rubles, amount of staff will be nearby 14 thousand people. The proceeds of the company in 2008 are expected to be around 20 billion rubles.

Mr. V.Pinkhasik said that since 1 April, IDGC of the North-West will manage all financial streams of branches of the operational company. Each branch will have two settlement accounts. One account will receive funds collected by a power sale subdivision for the consumed electric power according to the concluded contracts, and the other will be created for reception of means for technological connection to networks.

'There will be no cross subsidizing,' Veniamin Pinkhasik emphasized. 'Each branch will operate owing to the funds incorporated and approved in the tariff. All our activities are maximum transparent. This is the principle the work of the operational company will be constructed under from the first day of its existence, continuing the traditions which we implemented at formation of IDGC of the North-West and which we adhered to within all three years of our work in the region.’

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer