print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Rosseti Volga press releases

Rosseti Volga

October 13, 2015

Chuvashenergo branch is committed to raising the payment discipline

Today, joint efforts for eliminating non-payments are extremely important. Chuvashenergo, a branch of IDGC of Volga, PJSC (a member of Rosseti Group of Companies) is consistent in its commitment to have in place efficient claims management processes in order to stop non-payment practices, but it seems to be a long frustrating process. Starting from August 2014 and up to date, the situation with customer payments for electricity transmission services provided by the branch keeps getting worse. As of October 01, 2015, the reported total amount of unchallenged debts payable to Chuvashenergo branch amounted to 299.4 million rubles. Major debtors are Chuvash Energy Sales Company, JSC and Khimprom, PJSC. For example, in accordance with the contractual terms, Chuvash Energy Sales Company, JSC, the last resort power supplier, had to make final settlements with IDGC of Volga, PJSC for electricity transmission services provided by the branch, by transferring 221.3 million rubles to the branch account by September 15, 2015 at the very latest. However, as reported for October 06, 2015, payments for services provided in August 2015, were made only partially, to the amount of 25.5 million rubles. Khimprom, PJSC is yet another customer that has repeatedly defaulted on its obligations to pay for electricity transmission services. Despite out-of-court settlements between the parties in relation to redemption of debts for January and February 2015, this customer continues to breach the contractual payment deadlines for amounts currently due. As of October 06, 2015, the amount of unchallenged debts of Khimprom, PJSC for electricity transmission services amount to 44.9 million rubles. In its turn, Chuvashenergo branch, though having discharged its contractual obligations in a timely manner and in full until November 2014, at the moment is unable to duly pay to 41 grid operators of the Chuvash Republic for their electricity transmission services. Thereby, in the autumn and winter season Chuvashenergo branch and related grid operators of Chuvashia face the lack of financial resources necessary for operation of the electrical networks.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer