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IDGC of Volga

November 25, 2015

Enterprises of Mordovia owed for the power transmission services more than 300 million rubles

The total debt of contracting parties of Mordovenergo, a branch of IDGC of Volga, PJSC, for power transmission services of November 01, 2015 exceeded 334 million rubles. Worst violators of payment discipline are: Mordovia Energy Sales Company, PJSC; Mordovia Heat Network Company, JSC; VKM-Stal, LLC; Elektroteploset, LLC; Mordovia Network Company, LLC; Federal Government Enterprise (FKP) “Saransk Mechanical Plant”; Remstroimash, LLC. Most of these organizations are not doing enough to repay debt, leading to a further increase in the debt for the power transmission services, including through assessed penalties. Mordovenergo, a branch of IDGC of Volga, PJSC, is actively working on debt-collecting by all legitimate means, including in court. Within the year of 2015, the branch filed 83 suits in the amount of 272.5 mln rubles. Aside from the judicial activity, the management of Mordovenergo branch cooperates with the authorities of the Republic of Mordovia on the organization of committee work for monitoring the financial condition, improving the payment discipline, debt-collecting for the fuel-energy resources in the Republic of Mordovia. Upon the results of the commission protocol resolutions are passed, the purpose of which is through joint efforts to have an effect on solving the problems associated with debts. Non-payment for the power transmission services can be the basis for the initiation of bankruptcy proceedings against the debtors. In addition, the non-payers may face significant costs. In accordance with the Federal Law 307-ÔÇ of November 03, 2015 overdue payment sanctions for the power transmission services are toughened. Consumers, paid untimely or incompletely for the power transmission services provided, are obliged to pay to their grid operator an interest at the rate of 1/130 of the refinancing rate of the Central Bank of the Russian Federation, acting on the date of actual payment, of the outstanding sum per each day of delay - starting from the next day after the onset deadline until the day of actual payment. Thus, a new normative document indicates the rate for violation of terms of payment by contractors at a rate of 23% per annum. Now, the amount of the penalty is comparable to bank interest rates on loans. Also, the above regulatory document toughens penalties on restricted power supply mode. Consumer's violation of restricted power supply mode, failure to comply with requirements for self-limiting power consumption mode, denial in access of the grid operator representatives or another person obliged to carry out actions to impose the power consumption restrictions - all these cause imposition of administrative fines on officials in the amount of ten to one hundred thousand rubles or disqualification for a period of two to three years; for legal entities - from one hundred thousand to two hundred thousand rubles. It should be noted that among the contractors of Mordovenergo, a branch of IDGC of Volga, PJSC, there are companies that do not violate contractual relations and comply with the terms of payment, namely - Rusenergosbyt, LLC; MagnitEnergo, LLC RegionEnergoKontrakt, JSC; Mordovtsement, LLC; Yubileynoe, LLC; Kombis, LLC. This once again proves the fact that references to the economic difficulties of debtor companies are only an excuse for the violation of the payment discipline.




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