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Yaroslavl Retail Company in February was ordered to repay debts to IDGC of Centre

18 February 2015

Today, a regular meeting of the Interdepartmental Commission of the Government of the Yaroslavl region was held to address debt repayment for the consumed fuel and energy resources. The Commission, acting in the region since 2014, provides coordination of all consumers and enterprises engaged in the generation and delivery of electricity.

The meeting discussed settlements of companies for electricity transmission services and payment of consumption. The meeting, chaired by Deputy Governor of the Yaroslavl region Natalia Shaposhnikova, was attended by representatives of IDGC of Centre - Yarenergo division - the company which is the main power grid company in the electricity transmission market of the Yaroslavl region.

At the meeting the Commission, above all, talked about enormous debts for electricity transmission services to consumers, accumulated by JSC "Yaroslavl Retail Company" to the Yaroslavl branch of IDGC of Centre. Currently, "Yaroslavl Retail Company", being the largest electricity supplier of last resort, should pay for the transmission services actually rendered at the electricity retail market month to month. These commitments for November and December 2014, as well as in January 2015, were not met in a timely manner. Thereby the stability of the retail electricity market was jeopardized, as well as the reliability of the power system, the means to maintain which were collected from consumers, but they did not come to the grid company. For reliable operation of power equipment in the region it is needed to closely monitor the payments and to ensure the repayment of debts of retailers to grid companies.

Arrears of JSC "Yaroslavl Retail Company" to IDGC of Centre since the beginning of December 2014 to early February 2015 increased by 499.4 million rubles, the level of payment of "Yaroslavl Retail Company" for January - February 2015 is 48% of the undisputed obligations for the actually rendered transmission services.

Following the meeting, a list of activities for the improvement of payment discipline was made. According to a decision of the Commission JSC "Yaroslavl Retail Company" was instructed by the end of February 2015 to repay the debt for November-December 2014 to "Yarenergo" in the amount of 670 million rubles, paying current payments on time according to the contractual obligations. Also, weekly monitoring of cash receipts and payments of "Yaroslavl Retail Company" to IDGC of Centre was set.

Stressing the importance of this decision, Deputy Governor of the Yaroslavl region Natalia Shaposhnikova noted that the debts for electricity are a threat to the reliability and security of power supply.

In case "Yaroslavl Retail Company" fails to execute the decisions of the Interdepartmental Commission and does not eliminate the debt the Interdepartmental Commission will forward materials to law enforcement agencies. Furthermore, the issue of overdue and current debts of the supplier of last resort to the grid company will be discussed at the Public Chamber of the Yaroslavl region.

IDGC of Centre continues implementing in regions of the Central Federal District the initiative of "Russian Grids" to establish regional commissions to monitor settlements with electricity companies.

This process takes place with the participation of regional authorities. To date, all administrations from 11 subjects of the Central Federal District, where IDGC of Centre operates, confirmed their positive attitude towards the organization of commissions, texts of relevant provisions and their participants are being agreed upon. So far as structures solving crucial issues of payments for consumed electricity and transmission services were created previously, it is expected to expand the agenda of the issues under consideration and the participants in accordance with the proposals of "Russian Grids". The creation of the regional commissions with the support of heads of federal subjects will allow in the current economic conditions to improve the situation with the payment discipline, enhance the financial sustainability of electricity companies and co-ordinate the activities of all stakeholders. As a result, it will help strengthen the basis for further ensuring the smooth and reliable operation and development of power industry enterprises, their advancing development, and creation of conditions for realization of social and economic potential of the regions.

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