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Rosseti Volga

February 4, 2016

RIAR remains one of major customers defaulting payments for electricity transmission services

Joint-Stock Company “State Scientific Center – Research Institute of Atomic Reactors” (JSC SSC RIAR), the largest Russian scientific nuclear reactor center in Dimitrovgrad is one of the major customers in the Ulyanovsk region defaulting payments for electricity transmission services. Currently the debt of JSC SSC RIAR to IDGC of Volga, PJSC is over 43 million rubles, and this tendency remains constant over years. According to the Russian law, other categories of debtors can be disconnected from power supplies. But as a local economic mainstay, this debtor enjoys immunity. JSC SSC RIAR dishonestly enjoys the benefits of its privileged status, neglecting its contractual obligations. RIAR made no proposals concerning debt recovery or restructuring and prefers to ignore the current situation. Fees for services provided are transmitted to the settlement account of the distribution company only against enforcement orders. Therefore, litigation is the sole remedy for the grid company wishing to protect its legitimate interests. To recover debts related to electricity transmission services, a number of claims were filed at regional courts against RIAR from the moment of the debt occurrence. Decisions in the actions are made in favor of IDGC of Volga, PJSC. However, legal proceedings can last for months. For example, 9 million rubles invoiced for August 2015 were paid only in January. Thus, RIAR’s senior management prefers to be in default upon maturity and to make payments under electricity transmission service agreements only by enforcement. The situation will probably change this year. Federal Law No. 307-FZ dated November 03, 2015 "On amendments to certain legislative acts of the Russian Federation in connection with the strengthening of the payment discipline of energy resources consumers" establishes grater penalties for late payments. It is in the debtor’s interests to regularly pay for consumed energy as new late payment charges may only aggravate the problem of debt.

 

 

 

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