RAO UES Investment Session Reviews Implementation of WGCs' and TGCs'
Moscow, 24 April 2008. Today, RAO "UES of Russia" held
the Investment Session to assess the progress made in implementing the investment
programmes of thermal generation companies . The Session was chaired by RAO UES CEO
The companies' performance was assessed using three grades,
"good", "satisfactory", and "poor".
As a result of the review, all generation companies received
"good" or "satisfactory" grades.
The only generation company to be given a negative assessment was OAO
"Mosenergo". Such low result was due to the fact that Mosenergo's Board of
Directors did not approve a number of investment projects to be implemented within the
next 2-4 years. This jeopardizes the implementation of the programme for the development
of the energy system in one of the most rapidly growing regions where electricity
consumption is increasing steadily. In 2007, the electricity demand grew by 3.3% and in Q1
2008, by 5.4%.
* The assessment was conducted based on the following parameters:
status of feasibility studies, status of the companies' business plans, availability of
contracts for the supply of equipment and fuel and delivery of capacity, selection of EPC-
and EPCM contractors, and the preparedness of land plots. Another aspect assessed was
adherence to the approved construction and installation schedules.