Moscow, 17 December 2004. Today, the Chairman of the Russian Government Mikhail Fradkov presented the Prize of the Government of the Russian Federation in the field of science and technology for 2003 to a team of researchers headed by the member of the Management Board of RAO "UES of Russia", Chairman of the Board of Directors of OAO "Russian Communal Systems" Mikhail Abyzov.

The Prize has been given for the work "Development and Implementation of scientific foundations of management of the Federal Wholesale Electricity and Capacity Market (FOREM)". The authors are the leading managers of RAO "UES of Russia" and ZAO "FOREM Center for Contracts and Settlements": Mikhail Abyzov, Andrey Vagner, Sergey Zotov, Vladimir Khlebnikov, Nadezhda Nestyukova, Sergey Lukin, and Dmitry Chernov.

The State Prize in the field of economic theory has not been awarded over the past ten years. The team chief Mikhail Abyzov stated that the electricity reform had created some complicated problems relating to the implementation of scientific results in the functioning of the wholesale electricity market. The work describes the model and mechanism for operating the wholesale electricity market along four principal lines. In particular, the model takes into account the principle of simultaneous work of various forms of entities in an emerging market environment and proposes electricity trading methods using an electronic trading system and electronic document interchange.

For the purpose of practical use, the authors have developed and implemented unique integrated databases for FOREM participants which make it possible to reduce risks inherent in wholesale deliveries of electricity and energy payments. The universal information system may be used at different stages of development of the wholesale electricity market and electric power sector restructuring. The research proposes a methodological framework for determining competitiveness of wholesale generation companies (WGCs) and comprehensive assessment of their economic and financial potential.

"Already today, the results of our work are actively used by RAO "UES of Russia" in the preparation of the Company's plans and budgets, by regional energos, scientific and research entities, institutes of the Russian Academy of Sciences, the Ministry of Economy, and universities", said Mikhail Abyzov. By now, the authors have received 24 certificates of authorship and 4 patents for use of their research results. According to expert estimates, over the past three years the economic benefits from their use to optimize settlements and tax payments amounted to several billion Rubles."