The Ministry of Economic Development and Trade Plans to Support the Creation of Three TGCs under Lease Terms.
The Russian Ministry of Economic Development plans to issue a positive draft directive for government representatives on the RAO UES of Russia (RTS: EESR, EESRP) Board of Directors regarding the creation of Territorial Generation Companies (TGC) No. 1, No. 2 and No. 10 under lease terms, a Ministry representative told Interfax.
“We will support the creation of these companies in the directive. It will probably be prepared later this week, then we will have to submit it to the respective agencies for approval,” he said.
In addition, the Ministry representative said that a separate draft directive will be prepared regarding an additional issue of System Operator - Central Dispatcher Board shares for a total of 349,844 rubles.
After it has been signed by all relevant agencies, the document is to be approved by the RF Prime-Minister. The creation of three TGCs and the additional issue are on the agenda of the RAO UESR board meeting scheduled for October 29. As reported earlier, TGC No. 1 is to be created on the basis of Lenenergo (RTS: LSNG, LSNGP), Kolenergo (RTS: KOLE, KOLEP) and Karelenergo; TGC No. 8, Rostovenergo (RTS: RTSE, RTSEP), Kubanenergo (RTS: KUBE), Stavropolenergo (RTS: STRG, STRGP), Dagenergo (RTS: DGEN), Astrakhanenergo (RTS: ASRE), Volgogradenergo (RTS: VGEN, VGENP); TGC No. 10 Tyumenenergo, Kurganenergo (RTS: KRGE, KRGEP) and Chelyabenergo (RTS: CHNG, CHNGP).
Meanwhile, TGC No. 1 will be created by establishing an ÀÎ-Energo whose power plants will then be integrated into it, whereas TGC No. 8 and No. 10 will be created as wholly-owned subsidiaries of RAO UESR.
Such TGC arrangements suggest that, initially, new companies will work with AO-Energo’s power plants under lease agreements. As a result of restructuring energy companies, regional generation companies will be split off and joined to the TGCs.
As noted above, ÎÀÎ System Operator-UES Central Dispatch plans to boost its registered capital by 35.15% by way of and additional issue of shares for a total of 349,844 rubles.
The objective of the issue is to purchase some of the assets used for operational and dispatching control, but still remaining in the possession of RAO UESR’s subsidiaries and representative offices. Shares with a par value of 1 ruble will be placed as private offering. The independently-estimated offering price will be 1.5 rubles, the method of payment will be by property or proprietary rights.
Including the additional issue, System Operator - Central Dispatcher Board's registered capital will reach 1,341,770,663 rubles. To date, the company’s registered capital makes 992,769,819 shares at a par value of 1 ruble. It is 100% owned by RAO UESR.
|
