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IDGC of Volga

December 17, 2015

RIAR owes over 30 million rubles for electricity transmission services

At the beginning of 2015, Joint-Stock Company “State Scientific Center – Research Institute of Atomic Reactors” (JSC SSC RIAR), the largest Russian scientific nuclear reactor center (Dimitrovgrad), was added into the list of companies in arrears with their electricity bills. At the moment, the amount of arrears grew almost twice as compared to the beginning of the year, exceeding 30 million rubles.
As it is a local economic mainstay, it is impossible to cut off the electricity supply for this critical facility. The debtor dishonestly enjoys the benefits of its privileged status. The only remedy is to recover debts in an action at law. To recover debts related to electricity transmission services, a number of claims were filed at regional courts against RIAR starting from the beginning of the year.
Decisions in the actions are made in favor of IDGC of Volga, PJSC. Fees for services provided are transmitted to the settlement account of the distribution company only against enforcement orders.
For example, 10 million rubles invoiced for June were paid only early in December. Thus, RIAR’s senior management prefers to be in default upon maturity and to make payments under electricity transmission service agreements only by enforcement.
RIAR made no proposals concerning debt recovery or restructuring. Its management prefers to ignore the current situation which is of concern to both the distribution company and the regional authorities. Such an approach adopted by the largest experimental research company in the nuclear sector is absolutely unconstructive and inadmissible.
Lack of finances necessary to support operation of massive electric grid facilities and maintain reliable power supply for consumers poses perhaps the greatest threat to energy security. In the long run, non-defaulting consumers are likely to suffer as well.

 

 

 

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