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IDGC of Centre efficiently uses legislative innovations toughening responsibility of non-payers to collect receivables

25 February 2016

IDGC of Centre continues performing claim-related work to collect receivables for electricity transmission services. As of February 1 the debt size is 22.4 billion rubles. The bulk of the debt, 19.4 billion rubles (87%), is on the part of electricity suppliers of last resort in regions.

The largest debtor among the existing suppliers of last resort is JSC "Atomenergosbyt" (a subsidiary under the control of the State Corporation "Rosatom" CJSC "Rosenergoatom Concern"). Since the spring of 2014 this company has been operating as a supplier of last resort in three regions of the service area of IDGC of Centre: the Kursk, Smolensk and Tver regions, and throughout this period its accounts receivable have had a steady growth. At the beginning of 2016 the share of JSC "Atomenergosbyt" in the total debt of working suppliers of last resort of IDGC of Centre was 33%, overdue accounts receivable - 2.6 billion rubles.

Since January 1, 2016 IDGC of Centre has been forming the claims for non-payers, taking into account entered into force in December 2015 Federal Law № 307-FZ, aimed at "strengthening the payment discipline of energy consumers". In January, the company planned to present penalties worth 132.7 million rubles to consumers of services, the third of this amount was accounted for JSC "Atomenergosbyt" (43.6 million rubles). But from the end of January the company began actively repaying debts to IDGC of Centre, having paid a total of 70% of accounts receivable. However, this process was then stopped. The issued February 16 official message of JSC "AtomEnergoSbyt" announced the elimination of existing receivables to grid companies. Upon expiration of the period of regular payments on current accounts (it occurred on February 15) IDGC of Centre started to accrue interest on the remaining amount of the debt. For the first three days of delay they amounted to 5.7 million rubles.

IDGC of Centre reminds that nonfulfillment of obligations by contractors in full threatens the reliability of electricity supply to consumers, as the company uses the proceeds for providing services for the delivery of electricity primarily towards financing the core production activities. IDGC of Centre is going to continue to work consistently to collect receivables, using all mechanisms envisaged by the current legislation. Currently there are pending in the courts of different instances 138 claims filed by IDGC of Centre in respect of JSC "AtomEnergoSbyt", totalling 738.83 million rubles, where 573.6 million rubles are the debt to the branch "Tverenergo" and 159.33 million rubles – to the branch "Smolenskenergo". Only the size of fines, claimed from "Atomenergosbyt" to date, amounted to 122.9 million rubles.

At the same time, the company remains open to a constructive dialogue regarding development of effective mechanisms for debt repayment in view of the current macroeconomic situation, and in some cases real financial capacity of its counterparties.

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