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Anatoly Chubais' Farewell Address on Winding-Up of RAO UES of Russia

Anatoly Chubais: "We are leaving, but we are not switching off the light"

Dear site visitors,

On 1 July 2008, RAO "UES of Russia" terminates its operations.

The 10 year reform resulted in the creation of a new sector structure based on private property and market relations. The holding company, RAO UES of Russia, have been succeeded by new, dynamically developing generation, grid, retail and services companies. A competitive market for electricity has been created in the country. Multibillion investments have been attracted in the energy sector which have given a boost to the development of the economy of the entire country.

All this enables us, with a clear conscience, to say goodbye to our readers, both adherents and opponents of the reform, enthusiastic optimists and hopeless pessimists alike. I would like to thank you for being with us all these years, no matter on what side of the barricade.

We are leaving, but we are not switching off the light: now the house called "Russia's Electricity Industry" has new owners. Partly for that reason the corporate website of RAO "UES of Russia" will continue its work until the end of 2008. As before, the website will contain detailed information on the reform results and news of the post-reform electricity sector. I am confident that the site will continue to be a reliable source of information for millions of electricity users both in Russia and abroad.

 Yours truly, Anatoly Chubais



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