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Industry News
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21.05.2007
Russia to Spend $3-5Bn Annually to Develop Nuclear Power in Next Three Years, Says Kudrin
In the next three years, the Russian government will spend $3-5 billion annually to develop nuclear power, said Russian finance minister Aleksei Kudrin.
18.05.2007
Russian Power Industry to Have Deficit-free Investment Programme for 2008 by 1 August
At a meeting on Thursday, the government of Russia found out that the power industry needs 28 billion roubles more investment in 2008 than the planned financial resources and ordered determining by 1 August investment projects that are the most important for the economy and for which money is to be provided.
17.05.2007
RAO UES to Suggest Duma Several Amendments to Power Industry Legislation
RAO UES of Russia will suggest that Duma members introduce amendments to the power industry legislation.
17.05.2007
Chubais Confirms RAO UES to Cease to Exist on 30 June, 2008
RAO UES of Russia head Anatoly Chubais confirmed on Tuesday that RAO UES will cease to exist on 30 June, 2008. "The power industry reform is drawing to a close and RAO UES of Russia will finish its work on 30 June, 2008," he told journalists after his visit to Boguchany HPP.
17.05.2007
CIS Heads of Government to Consider in Yalta Draft Agreement on Shaping Common Electric Power Market
At a meeting in Yalta on 25 May, the CIS Heads of Government Council intends to consider 25 issues, one of them being a draft agreement on the shaping of a common CIS electric power market, Vladimir Garkun, first deputy chairman of the CIS Executive Committee, told journalists in Minsk on Wednesday.
15.05.2007
Investors in WGC-5 Invited without Limitations
Germany's E.On and United Company Russian Aluminium (UC Rusal) have become new candidates for buying 25% of shares of Wholesale Generating Company No 5 (WGC-5). In all, the Federal Antimonopoly Service has already received six applications for buying the securities. Unlike tenders for other generating assets of RAO UES of Russia, the winner in the WGC-5 auction will not be obliged to receive approvals of its actions for managing the company from the holding company.
11.05.2007
Putin Notes Importance of High Technology Development in Energy Cooperation and Entering Third-country Markets
Russian President Vladimir Putin noted the importance of developing high technologies in cooperation in the energy sector along with entering third-country markets. He verbalised this idea during his conversation with President Nursultan Nazarbayev of Kazakhstan.
10.05.2007
Russia’s TGC-1 Applies for London Listing
Russia’s Territorial Generating Company Number One (TGC-1) has applied for listing on London Stock Exchange in the run-up to its additional share issue scheduled for mid July.
10.05.2007
Russia’s Spot Power Market Almost Doubles Within a Week Due to Cold Weather
Sales at Russia’s spot power market that trades at competitive prices almost doubled within a week from 30 April to 6 May, inter alia due to low temperatures, non-commercial partnership Trading System Administrator (TSA) reports.
10.05.2007
Headed for Russia
The German concern E.ON is regarding its entering the Russian market as one of its short-term strategic aims. The decision was discussed at the shareholders’ annual general meeting at the end of last week. Specifically, the company plans to use the 42 billion Euros that were raised for the failed purchase of a controlling stake in the Spanish electric power company Endesa by investing in the electric power markets of Spain, Italy, France and Russia.
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