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Unified Energy System

January 12, 2004

RAO "UES of Russia" complies with commitments undertaken in tariff stabilisation agreements

 

Moscow. 12 January 2004. On the suggestion of energy companies of RAO "UES of Russia", the Regional Energy Commissions of Leningrad, Nizhny Novgorod, Perm, and Sverdlovsk Regions and the city of St.-Petersburg established, effective 1 January 2004, the electricity rates for households at 20% below the maximum tariff level set by the Federal Energy Commission of Russia for the year 2004.

Despite the fact, that the Regional Energy Commissions increased, pursuant to the decision of the Government of the Russian Federation, the electricity tariffs with effect from 1 January 2004, the rates set for the households in Leningrad, Nizhny Novgorod, Perm, and Sverdlovsk Regions and the city of St.-Petersburg are 20% lower than those established effective 1 January 2004. Thus, RAO "UES of Russia" is complying with the commitments undertaken by it and recorded in the respective agreements on tariff stabilisation

which were signed in October and November 2003 by RAO "UES of Russia" and the Governors of Leningrad, Nizhny Novgorod, Perm, and Sverdlovsk Regions and the city of St.-Petersburg, and representatives of the respective RECs within the framework of the programme to curb the tariff growth being implemented by RAO "UES of Russia". Under these agreements, the electricity rates for households in the above regions were reduced, with effect from 1 November 2003, by 20% from the then current level, and for the period from 1 January to 1 May 2004, the tariffs have been set at a level 20% below that of the maximum level established by the Federal Energy Commission of Russia.

The main sources for the tariffs reduction are implementation of the costs reduction programme at RAO UES entities and participation in the competitive segment of the wholesale electricity market, where the electricity price is lower than that established by the FEC of Russia for the regulated segment of the wholesale market.

The savings achieved as a result of the costs reduction efforts at OAO "Lenenergo" in the nine months of 2003 made RUB223.1 million (or RUB24.8 million per month), whereas the savings made through participation in the competitive electricity market since 1 November 2003 were RUB6.8 million.

The savings made as a result of the costs reduction efforts at OAO "Nizhnovenergo" and Dzerzhinskaya CHPP-3 in 2003 are estimated at RUB532.4 million (or RUB44.4 million per month).Accordingly, the purchase of electricity in the competitive segment of the wholesale electricity market resulted in savings of RUB7.46 million since 1 November 2003.

The savings gained as a result of the costs reduction efforts at OAO "Permenergo" in the nine months of 2003 made RUB160.8 million, and in Q4 2003 they are anticipated at RUB47.6 million (RUB17.4 million per month). The savings made by OAO "Permenergo" through purchasing electricity in the competitive market since 1 December 2003 were RUB6 million.

The savings as a result of the costs reduction efforts at OAO "Sverdlovenergo" in 2003 totalled RUB190 million (or RUB15.8 million per month), whereas the savings resulting from electricity purchase in the competitive market made RUB1.6 million and are anticipated to make RUB70 million by 1 May 2004.

 

 

 

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