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

December 11, 2015

Througout the year Ulyanovskenergo keeps a multi-million-dollar debt to the gid company

Since the end of last year, Ulyanovskenergo leads the list of the largest debtors of IDGC of Volga, PJSC, for the power transmission services. "At present, the amount of debt is over 450 mln rubles. Ulyanovsk Distribution Grids, a branch of IDGC of Volga, PJSC, and Ulyanovskenergo, JSC, acting as the Last Resort Supplier in the Ulyanovsk region, contracted services for electric power transmission. Despite this, Ulyanovskenergo systematically fails to comply with the contractual obligations. The due date for the repayment of transmitted in November electricity expires on December 15. If the payment is not received to the account of the Grid Company Ulyanovskenergo will again enter the new year with the multi-million dollar debt, "- said Evgeniy Ovsyannikov, Head of Service Sales and Electric Power Metering Department of Ulyanovsk Distribution Grids, a branch of IDGC of Volga, PJSC. Ulyanovskenergo explains the systematic violation of the payment discipline by consumers' non-payment for the power supply. However, according to the rating data of PRIME, the leading Russian Economic Information Agency, the company entered the top-10 list of Ulyanovsk companies by revenue. Consequently, the Last Resort Supplier has the funds available, but is not eager to pay to the Grid Company for the provided power transmission services. Perhaps the situation will change with the entry into force of the Federal Law of 03.11.2015 No 307-ÔÇ "On Amendments to Certain Legislative Acts of the Russian Federation in connection with the strengthening of the payment discipline of energy consumers", providing an increase in penalties for late payments. Will the Energy Sales Company, that have "accumulated" multimillion-dollar debts, be able to work in the changed conditions and what impact will this have on the consumers of Ulyanovskenergo, JSC? Meanwhile, throughout the year the Ulyanovsk branch of IDGC of Volga, PJSC is forced to defend their legitimate interests in court. Within this time, the regional courts filed 11 claims for the recovery of the debt of Ulyanovskenergo, JSC. The main objective of the Grid Company is to prevent further growth of debt and receive payments on existing receivables, as the lack of funds will, first of all, affect the energy security of the region and reliability of power supply.

 

 

 

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