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Unified Energy System

May 13, 2004

RAO "UES of Russia" signed an associated partnership agreement with the e7

May 13, 2004 Ė Chairmen of nine leading electricity companies celebrated their new partnership with Russian utility RAO UESR when they gathered today at the 13th annual e7 Summit. The partnership with RAO UESR began in 2001 when its CEO Anatoly Chubais participated in the Italian e7 Summit. The G7-country industry leaders then invited him to join the Group as an associate partner until full e7 membership is considered in parallel to Russia joining the G8 in 2006. "RAO UESRís partnership with the e7 is an achievement in the collaboration of industrialised nations in the pursuit of global sustainability" said Chubais after the official signing ceremony. e7 Chairman Harry Roels, who is CEO of RWE, applauded the new alliance with RAO UESR, which is one of the worldís largest electricity companies and has almost 600,000 employees. "RAO UESR brings new strength and experience to the e7 while providing us with additional means to increase the impact we have on sustainable energy development worldwide," he said.

The top executives also devoted time to discussing the Kyoto Protocolís Joint Implementation (JI) mechanism, the groupís annual theme for 2003-2004, as well as the future framework of climate change policy. The dialogue focussed on JIís investment outlook, especially in relation to the EU emissions trading scheme and how the Unionís new accession countries may affect the market. Opinions and national perspectives were later exchanged on the form a future framework for climate change could take, both with and without Kyoto.

The Chairmen also discussed the groupís first JI project, which will increase energy efficiency in kindergartens and schools in the Bulgarian capital of Sofia. The project is a partnership with the Municipality of Sofia and the United Nations Development Programme, and will significantly reduce greenhouse gas emissions while improving learning conditions for nearly 20,000 children. Keynote speaker Ken Newcombe, Fund Manager from the World Bankís Prototype Carbon Fund, congratulated the e7 for "underscoring the economic, environmental, and social potential of the JI mechanism with a project that is exemplary in all three dimensions."

The e7ís 2003-2004 Annual Report was unveiled at the summit, and showcases the groupís portfolio of human capacity building initiatives, sustainable energy development projects, and working group activities.

 The e7 is an international non-profit organisation of leading electricity companies from G7 nations and dedicated to promoting sustainable energy development. Its mission is achieved through capital projects and human capacity building initiatives in developing countries. The e7 members are American Electric Power (USA), Electricite de France (France), ENEL (Italy), Hydro-Quebec (Canada), KANSAI (Japan), Ontario Power Generation (Canada), RWE (Germany), ScottishPower (UK), and TEPCO (Japan). RAO UESR (Russia) is an e7 associate partner.





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