03 September 2003 06:45
UES BEGINS REORGANIZING ANOTHER SIX POWER COMPANIES
Unified Energy System (UES), Russia's energy monopoly, has begun the reorganization of six more power companies:
Karelenergo, Marienergo, Mordovenergo, Nizhnovenergo, Penzaenergo and Chuvashenergo, UES sources have told Interfax.
The reorganization of these should be done according to the base scenario, in accordance with which they should be
split off by business. The future should bring inter-regional integration of companies in the same line of work and
created on the basis of a power company.
UES sources note that at the end of this month or beginning of next
the companies will have boards of directors meetings to address
reorganization issues, at which will be confirmed schedules for
reorganization. Before year-end, there will be set dates for
These six reform projects have gone through all internal UES corporate procedures and were approved by the
governmental commission for energy reform.
extraordinary shareholders meetings to discuss the reorganization at these six companies.
At the present time, a project for the reformation of Tulenergo, Bryanskenergo, Kalugaenergo, and Oryolenergo is
being carried out. UES had decided to reorganize these first and work out from their example the technology for
reorganizing subsequent UES companies. This project has been called a 'pilot' program.
UES comprises 73 power companies all told, most of which (excepting isolated energy systems) will be reorganized
mainly according to the base scenario.
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