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 24, 2016

Indebtedness of Ulyanovskenergo, JSC, a last resort provider, related to electricity transmission services exceeded 700 million rubles

Ulyanovskenergo, JSC, a last resort provider in the Ulyanovsk region, once again failed to meet the deadline of payments for electricity transmission services. The due date for making the next payment expired on October 20, but no amounts have been credited to the account of Ulyanovsk Distribution Grids, a branch of IDGC of Volga, PJSC so far. Including new charges for transmission services, the debt of the largest power supply company in the region has reached 763 million rubles. This is the largest share in the total amount payable by defaulting companies of Ulyanovsk. At the moment, the total debt amount exceeds 800 million rubles.

During the last two years, Ulyanovskenergo, JSC repeatedly breaches its contractual obligations. The company partially pays the invoiced charges for electricity transmissions services, thus reducing its total debt. However, its indebtedness persists. The last resort supplier fails to perform one of its key fictions, i.e. collection of amounts due by its customers, and payment for electricity transmission services. Money collected from the customers to cover electricity transmission costs has not been transmitted to the account of the distribution grid company.

The most efficient action against the major debtor would be to impose restrictions on electricity transmission. However, this measure cannot be applied against Ulyanovskenergo, JSC without affecting the customers who acts in good faith. In fact, this situation enables the retail company to benefit from impunity with respect to breach of their payment obligations.

Poor payment discipline continuously demonstrated by major consumers of electricity transmissions services represents a great challenge to the distribution grid complex and the region in general. Primarily, the current situation puts at risk the power system of the region, reliability and quality of power supply for residents, socially significant facilities and major industrial enterprises.

 

 

 

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