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Industry News
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12.09.2007
Senator: RAO UES May Substitute RUSAL in Tajikistan’s Rogun Plant Completion Project
Russia and Tajikistan are drafting a new version of the intergovernmental agreement on construction of the republic’s Rogun hydroelectric power plant to be outsourced to RAO UES, Chairman of the Federation Council’s Committee on CIS Affairs Vadim Gustov stated on Tuesday.
11.09.2007
RAO UES Announces European Road Show Involving Management Board Chairman Anatoly Chubais
RAO UES of Russia has announced the beginning of a European road show of Management Board Chairman Anatoly Chubais. The European road show will be staged in London, Stockholm, and Reykjavik, according to the press release of the holding company.
11.09.2007
Federal Hydropower Generating Company to Develop Strategy for Expanding beyond Russia
Russia’s Federal Hydropower Generating Company (FHGC) intends by the end of the year to develop a strategy for expanding into the power industries of the CIS states, India, and Nepal, the company’s head Vyacheslav Sinyugin said at an economic forum organised by Reuters. By the 1 July, 2008, FHGC being the nation’s largest and the world’s second power generating company in terms of its installed capacity is to become government-controlled, according to him.
07.09.2007
RAO UES’s Testament; State Duma Completing Power Industry Reform (Gazeta, 7 September, 2007)
Today, the State Duma will consider in the first reading the bill “On the introduction of amendments to some laws of the Russian Federation in connection with the taking of measures for the reform of the Unified Energy System of Russia”. The main objective of the draft law is to define the procedure for the industry to work after 1 July, 2008, when RAO UES of Russia ceases to exist.
06.09.2007
New Power Plants Rise in Price
Price hikes for new power plants are enormous. According to a recent exclusive study by Handelsblatt, the current cost of a new coal-fuelled plant is almost twice as high as it was three years ago. The situation with power plants fuelled by lignite or natural gas is no better.
03.09.2007
Enel Brings Its People in
The administration of Wholesale Generating Company No 5 (WGC-5) is beginning to pass to foreigners. Representatives of Italy’s Enel were on Friday elected to the board of directors of the generating company. Although the candidates nominated by RAO UES of Russia (owns 50% in WGC-5) are so far the majority, experts consider the reinforcement of the positions of the Italians in the generating company a positive sign for the industry in general.
03.09.2007
Federal Antimonopoly Service Washes Its Hands
The Federal Antimonopoly Service (FAS) is prepared to see both Aleksei Mordashov and Oleg Deripaska in the role of the new owner of Power Machines. The agency has allowed structures close to both metals industry heavyweights to purchase the mechanical engineering corporation. A new round of fight for control over Power Machines will start in the near future when the terms and conditions are determined for selling RAO UES of Russia-owned shares.
03.09.2007
RAO UES Board of Directors Decides on Holding Company Shareholders’ Gains after Reorganisations
The meeting of the RAO UES of Russia board of directors earlier today became another step towards this year’s main event in the power holding company’s reorganisation: the meeting of shareholders on 26 October when RAO UES shareholders are expected to pass a decision on the termination of the company’s business.
31.08.2007
European Commission Has No Plans to Introduce Restrictive Measures Against Russian Energy Companies
The European Commission has no plans to introduce special restrictive measures against Russian energy companies, a source in the European Commission told ITAR-TASS, commenting on today’s publication in the Financial Times.
31.08.2007
Europe Builds Wall – Scandal
Russian companies intending to buy energy assets in the EU countries will apparently soon face new difficulties and demands.
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