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IDGC of the North-West

December 30, 2009

“Novgorodenergo” branch of IDGC of North-West transits to RAB since January 1, 2010

Within the framework of transition to the method of tariff formation, they coordinated the long term investment program of the branch in the amount of RUR 2,706.

Federal Tariff Service of the Russian Federation approved the transition since January 1 of 2010 to tariff formation on the basis of RAB of “Novgorodenergo” branch of IDGC of North-West.

According to Valentin Chesnokov, Head of the Tariff Formation Department, the Order of the Price and Tariff Policy Committee of the Novgorod Region approved the tariffs for 2010-2012 concerning the services directed to electric power transition and the long term parameters of the regulation for “Novgorodenergo”.

The average growth of the tariff for three years and, correspondently the necessary gross proceeds is planned at the level of 23% annually. The basis of the capital is fixed at the level of RUR 11.6 billion.  The rate of return of the investment capital accounted for 6% for 2010, 9% for 2011,12% for 2012 (in particular, of the old capital) and 12% for 2010-2012 years (concerning the part of the created capital).

“The tariffs in full determine the costs for the attraction of the bank credits, as well as the compensation of the lack of the fixed assets in the form of the circulating capital”, said Valentin Chesnokov.

Within the framework of the transition to the method of the investment capital they coordinated the long term (three -year) investment program of the branch in the amount of RUR 2,706 million

Thus, “Novgorodenergo” was the first among the branches of IDGC of North-West which transits to the account of tariffs for the services directed to power transmission in accordance with the return on equity (RAB) base since January 1, 2010. In 2010 IDGC of North-West will go on the work directed to the transition of other branches of the company to RAB.

 

 

 

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