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IDGC of Volga

March 30, 2017

Chuvash debtor enterprises continue a policy of non-payment for electricity transmission services

In February, 2017, the situation with nonpayments of the Provider of Last Resort, Chuvash Power Sales Company, JSC, for power transmission services delivered by IDGC of Volga, PJSC remained challenging. This March, another payment obligations for services delivered in February, 2017 to the amount of 325 M rubles were added to the undisputed overdue debt in the amount of 812 M rubles as of March 01, 2017. But Chuvash Power Sales Company paid only 136 M rubles in March, 2017.
As a result of this nonpayment practice, the undisputed overdue debt of the Provider of Last Resort as of March 28, 2017 rocketed up to 1,001 M rubles. And this is not the only debtor of Chuvashenergo, a branch of IDGC of Volga, PJSC. The debt of a local grid operator, Kommunalnie tekhnologii, LLC, amounts to 5.2 M rubles for the period from December, 2016; and Elektrotekhmontazhlaboratoriya plyus, LLC owes 2.4 M rubles for the period from January, 2017. As of March 28, 2017, the total overdue debt of the partners to IDGC of Volga, PJSC exceeded 1 billion rubles.

 

 

 

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