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Rosseti North-West

February 21, 2011

Director-General of IDGC North-West Alexander Kuhmay participated in a business breakfast, organized by the international rating agency Fitch Ratings, where they discussed perspectives for power sector

Analysts hope that the situation will change and the company of the Russian electricity sector will use more tools of borrowings market.

On February 17, In Moscow, the international rating agency “Fitch Ratings” has provided forecast for European and Russian electricity sector in 2011.

One of the participants in the thematic business breakfast was the General Director of JSC "IDGC North-West” Alexander Kuhmay.
“Fitch Ratings” gives positive forecast for the Russian electricity sector in 2011. Positive rating factors are the increase of revenue of generation companies by market liberalization, stabilization of revenue due to the presence of market power, improve operating margins, and increase the maturity of debt.

Analysts hope that the situation will change and the company of the Russian electricity sector will use more tools of borrowings market.

Negative rating factors are the old generation assets that have low efficiency, short period of existence of new market institutions, as well as significant amounts of capital investments that must be funded mainly through borrowing.

Alternative energy, according to analysts, over the next 5 years will not play a significant role. "Here we are talking about economic efficiency - while in Russia there is a low-cost hydropower, there is no sense to develop expensive projects.. At the regional level – perhaps, on a national scale - is unlikely, "- they say.

The main trend of Russian electricity market is consolidation, but above all, it concerns the network companies, which are not in a public list of Fitch Ratings.

 

 

 

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