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Statement by Yuri Udaltsov, Member of RAO UES Management Board

Moscow, 5 May 2008. RAO "UES of Russia" gives a positive assessment of the Plan of action to reform the electricity sector for 2008-2010 approved by the Government of the Russian Federation.

The Plan sets the timeframe for preparing and approving the key resolutions of the Russian Government which will make it possible to form the intended sector structure.

Specifically, under the Plan, the Rules of operation of the intended models of the wholesale and retail electricity markets are to be submitted to the Russian Government in Q1 2010.

According to the previous plans, the Rules were to be developed and submitted to the Government in Q4 2008.

However, as these are Rules of operation of the intended market models scheduled to be launched on 1 January 2011 (after the transition model and liberalization of the wholesale electricity market is abandoned), it is appropriate to move the deadlines of their development and approval closer to the launch date of the intended model.

If the Rules are prepared within one year instead of three years, as was previously planned, this will make the process more efficient in terms of market "finetuning". This will make it possible take into account the actual conditions of the electricity markets' operation.

It should highlighted that the main principles of operation of the wholesale and retail electricity markets launched in September 2006 will not be significantly changed, but rather improved.


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