As compared to January 1, 2001, the debt went down from 1,607,300,000 rubles to 1,227,000,000 million rubles at the beginning of 2002. As of January 1, 2002, the share of wholesale customers-resellers in the amounts due for electricity was about 20.6%.

The wholesale customers-resellers in the Moscow region were municipal electricity grids, urban industrial facilities, large plants to which the nearby townships are closely connected, and other important facilities.

Under the existing arrangement between AO MOSENERGO and wholesale resellers, the latter pay in full for supplied electricity. However, until recently, it was common practice fore wholesale resellers to retain money coming from end-consumers, thus delaying payments to AO MOSENERGO.

Throughout 2001, AO MOSENERGO conducted tough policies towards wholesale resellers, which caused dramatic improvement in payment discipline such as paying 100% in cash for currently supplied electricity. As a result of these measures, the following wholesale resellers have fully paid their debts to AO MOSENERGO:

• Balashihinskaya Elektrosyet;
• Korolevskaya Elektrosyet;
• Odinzovskaya Elektrosyet;
• Krasnogorskaya Elektrosyet;
• Krasnoarmeiskoye MP ZhKH;
• Pustoshiskoye MP ZhKH;
• MP Lyuberezkaya Elektrosyet;
• MP Elektrosyet, Pushkino;
• Sergievo-Posadskaya Elektrosyet;
• MP PTO GKh, Vidnoye;
• OOO, Sistemy Zhizneobespecheniya, Zvenigirid;
• PTO GH, Roshal.

The following wholesale resellers abide by debt restructuring agreements:

• Naro-Fominskaya Elektrosyet;
• Noginskaya Elektrosyet;
• MUP ZhKH, Chekhov District;
• MUP Yegoryevskoye PTO GH
• MP Scherbinskaya Elektrosyet;
• MP Klimovskoye PTO;
• Ivanteevskoye PTO GH.

However, some municipal grid companies that had earlier signed debt restructuring agreements with AO MOSENERGO fail to meet their obligations. The following companies are among them:

• Istrinskiye Elektrosyeti;
• Serpukhovskaya Elektrosyet;
• MP Stoks;
• Myticshinskaya MP Elektrosyet;
• Ilyinskoye PTO GH.

As of January 17, 2002, AO MOSENERGO and MP “Kolomenskaya Elektrosyet” agreed to a schedule for redeeming debts.

AO MOSENERGO intends to continue to work with debtors. The aim is to redeem the debts for consumed electricity and switch to timely payments for current electricity supplies.