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Industry News
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09.08.2007
WGC-5, Enel to Exchange Experience in Training Experts, Staff Education
OJSC Wholesale Generating Company No 5 (WGC-5) and Enel Investment Holding B.V. (Italy) which owns a blocking interest in the Russian generating company will exchange experience in training and educating experts and specialists and conducting education workshops, the WGC-5 media relations department reports.
07.08.2007
RAO UES to Retain Interest in WGC-5
Italy’s Enel has taken another step towards strengthening its positions in WGC-5. The company intends to have six representatives sitting on the generation company’s Board of Directors and has already made six nominations. RAO UES is also holding ground and has proposed ten nominees on its own and another one jointly with minority shareholder Westmead Ltd. It is clear that not all of them will make it to the Directors’ Board since it consists of eleven members only.
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.
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