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Industry News
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07.08.2007 Inter RAO UES and Borlas Automate Electric Power Exports and Imports Management
CJSC Inter RAO UES has commissioned an automated management system for the wholesale electric power market operations and for export and import operations developed by Borlas consulting group
03.08.2007 Gazprom Starts Trading in Electric Power on Germany’s Exchange Market
Gazprom’s Pan-European trading centre headquartered in London and called Gazprom Marketing & Trading Limited (GM&T) was in July admitted to the spot market of electric power on European Energy Exchange AG (EEX, Leipzig)
02.08.2007 Expensive Kilowatts; Power Consumption Growing by 5% Per Annum, Prices by in Excess of 12%
The Federal Tariff Service (FTS) has passed a basic version of Russia’s consolidated power balance for 2008. The FTS forecasts that power consumption in the country (with account for losses in power lines) will amount to 1,033 billion kWh. This is 4.5% higher than the forecast for 2007 (988.9 billion kWh).
02.08.2007 Inter RAO UES Preparing Debut Bonds for RUR 10Bn
Inter RAO is preparing a debut ten years’ bond issue for 10 billion roubles, according to the company’s documents based on the results of a meeting of its Board of Directors.
01.08.2007 Generating Companies Given One More Year
RAO UES of Russia has developed basic principles for agreements between the Non-profit-making partnership Trading System Administrator (TSA) and generating companies. They will become a mandatory condition for WGCs and TGCs to conduct additional share issues. Industry experts call these agreements flexible. They stipulate that generating companies may delay fulfilling their investment programmes for delivering new capacity for at least one year.
31.07.2007 RAO UES of Russia Management Expects Government to Have 75-77% of FGC Shares, 55-56% of FHGC Shares upon Reorganisation
The RAO UES of Russia management expects the government to obtain around 75-77% of Federal Grid Company shares and around 55-56% of Federal Hydropower Generating Company shares upon RAO UES’s reorganisation, Dmitry Akhanov, head of the Centre for the Implementation of Reform Projects, told journalists.
31.07.2007 RAO UES to Prepare Proposals for Improvement of Antitrust Laws within Month
Within a month, RAO UES of Russia will prepare its proposals for the improvement of antitrust laws in the area of electric power, Dmitry Akhanov, head of the strategy department of the RAO UES Reform Management Centre, told journalists.
27.07.2007 RAO UES of Russia Vacates Its Headquarters
On the verge of its liquidation, RAO UES of Russia is preparing its office, the well-known Petroleum House on Vernadsky prospect, for sale. The building which in 2000 cost the energy holding company less than $50 million is now valued by experts at $180-250 million.
26.07.2007 Moving Towards Synchronized Power Grids
Russia will not relinquish its role of raw stock supplier to Europe, yet it is always better to deliver goods of higher added value. Very soon, apart from Gazprom exports, Russia will be able to supply EU countries with electric power. By the end of 2007, a joint group of experts plans to complete a feasibility study on synchronization of power network systems in EU and CIS.
26.07.2007 Empty Purse for Nuclear Industry
Despite the significant changes in the schedule for completion of Bushehr nuclear plant, Iran can obtain nuclear fuel for it by the end of 2007 - beginning of 2008. Meanwhile, Russian Atomstroiexport, project prime contractor, has so far failed to procure a full-scope funding of construction.
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