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Directors of IDGC Holding and IDGC of Centre discussed transfer of Kursk region to new method of tariffs regulation

2 February 2010

During the meeting the following issues were discussed: performance of the agreement with the administration of Kursk region concerning realization of investment programs in 2007-2011, cooperation of the government of the region and  IDGC Holding regarding raising of efficiency of region power supply, peculiarities of transfer of Kursk region to a new method of tariffs regulation RAB since 1 January, 2010. 

The branch of IDGC of Centre, JSC – “Kurskenergo” transferred to RAB with capital base on residual value (iRAB) at the level of  10,8 billion rubles. It is planned, that overall volume of investments in power grid complex of the region will be about 3 billion rubles as the result of three years of work in new system. In respect of three year regulation period the program of Kurskenergo is one of the most ambitious investment programs of IDGC of Centre, JSC.

Nikolay Shvets, the General Director of IDGC Holding, JSC remarked: “It is very important for us to develop constructive mutually beneficial relations with entities of the Russian Federation, especially concerning issues of tariff making. Transfer of Kursk region to RAB is significant step, which will play an important role in enhancement of power supply reliability, in realization of investment program approved currently, will give consumers and citizens an opportunity to be sure in qualitative power supply”.

Nukolay Shvets also emphasized, that RAB-regulation will promote development of distribution grid complex of the country, will create clear conditions for potential investors, will allow businessmen to estimate the development of their enterprises more exactly. This method stimulates power grid companies to reduce their operating expenses and stabilizes growth of tariff on certain period.

In spite of financial and economy crisis, IDGC of Centre, JSC realizes envisaged investment programs, builds new power facilities using modern technologies.

Evgeny Makarov, the General Director of IDGC of Centre, JSC, declared: “The Company has unified technical policy, all branches apply common standards. All new substations are fully telemechanized. We reduce costs significantly particularly using new modern equipment, repair of which requires less expense”. 

Business meeting of directors of IDGC Holding, JSC and IDGC of Centre, JSC with management board of Kurskenergo, at which issues of reliable supply of consumers with electric power were discussed and expected future development of electric power region was outlined, took place during visit.

During working trip Nikolay Shvets, the General Directors of IDGC Holding, visited Network management centre of Kurskenergo, museum of Kursk region power industry history and met with veterans of Kursk power system.

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