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RAO UES to pay dividends for 2003
RosBusinessConsulting. Wednesday, Jun. 30, 2004, 6:29 PM Moscow Time
RAO UES shareholders have approved RUR0.0469 per common share and RUR0.2283 per preferred share in dividends for 2003 at their annual general meeting, which took place in Zelenograd today. Thus, the company will allocate RUR1.924bn (about $66m) for dividend payments for 2003 including RUR473.7m for payments on preferred shares. This is a 20.64-percent increase in dividend payments compared to 2002. In 2002 the company allocated RUR2bn (about $68m) for dividends, which is a 50-percent yearly increase.
Economy Minister on wholesale energy generating companies
RosBusinessConsulting. Wednesday, Jun. 30, 2004, 2:20 PM Moscow Time
A new date for the decision on wholesale energy generating companies does not mean a delay in implementing the energy reforms, Russian Economy Minister German Gref announced at an investment forum in the city of Yaroslavl. There is no decision to halt the reforms, he stressed. As for the deferred decision on the method of selling wholesale energy generating companies, Gref said that wholesale energy generating companies had not been formed as yet. One should form them before making any decision on selling them, he emphasized. Gref considers this will be possible no sooner than at the end of 2004 or in 2005.
RAO UES head comments on energy reforms
RosBusinessConsulting. Wednesday, Jun. 30, 2004, 12:58 PM Moscow Time
"We should not abandon the core targets of the energy reforms," RAO UES head Anatoly Chibais announced at a briefing before the annual general shareholder meeting. According to Chibais, RAO UES management is going to cooperate with the Russian government to go on with the reforms. He stressed that it was possible to change the methods of implementing energy reforms and their terms, but it was impossible to abandon their main targets. The energy reforms are covered by the number of laws. RAO UES head believes that the core target of the energy reforms is to enhance the state's control in the monopolized sector of electrical energy market(the Federal Network Company and the System Operator) and to hand a number of energy generating assets to private enterprises. Chibais stressed he did not foresee any revolutionary changes in the board of directors of the company. He hopes the state will retain its 10 positions on the 15-member board of directors.
In the "college of Mosenergo - Moscow Regional Administration of Power
System Management" passed the "day of graduate"
translation - unedited
30.06.2004 g.
g. Moscow
On 30 June, 2004, in NOU the "college of Mosenergo - Moscow Regional
Administration of Power System Management" took place the solemn
ceremony of the presentation of diplomas to graduates of college. In this year the college let out 125 specialists of energy
professions. With the difference they finished the instruction of 19 graduates of
the "college of Mosenergo - Moscow Regional Administration of Power
System Management".
According to tradition holiday program began from the meeting in the
walls of the Moscow Kremlin in with Aleksandrovsk to garden. Then children laid flowers to the grave of unknown warrior. The solemn ceremony of the presentation of diplomas took place in the
walls of college. The diplomas of technician- power engineers entrusted to graduates, bookkeeper- economists and managers.
In three years of instruction the students of college obtained not
only unique theoretical knowledge, but also practical preparation. The majority of young specialists will be accepted to the work into
the branches of Moscow energy company. The substantial part of the graduates plans to continue their
formation in such higher educational institutions, as the Moscow Power Engineering Institute (MEI) and Moscow Institute
of Steel and Alloys (MISIS).
the "college of Mosenergo - Moscow Regional Administration of Power
System Management" it has available contemporary scientific and
technical base and injects foremost teaching procedures. In the college the highly skilled instructors work, which regularly participate in the all-Russian and international
conferences on questions of the development of vocational education.
Coming out before the graduates, the director OF NOU the "college of Mosenergo - Moscow Regional
Administration of Power System Management" the deserved teacher RF
Vladimir Temnik noted, that the interest in the profession power engineering among the young
people grows yearly. "at the present moment in the college are passed entrance
examinations. In this year we can grant 175 places for those only, who wants to be trained to energy and economic specialties, and such desiring it is more than 400", - emphasized Vladimir temnik.
I just post to 'Alternative Energy' to make political statement of sorts. I have posted to the Silicon Investor thread AE thread since the beginning. My source is usually engineering websites. I don't presently own any shares in
USWF.
No, actually I am a rather conservative type. I even like clean coal and nuclear power.
RAO UES shareholders to hold meeting today
RosBusinessConsulting. Wednesday, Jun. 30, 2004, 9:17 AM Moscow Time
The annual general meeting of shareholders of RAO UES will take place today. According to the agenda, shareholders are to approve the annual report of RAO UES for 2003 and the annual accounting statement, to discuss dividend payments, to elect the Board of Directors and the Audit Commission as well as to approve an auditor for the company.
Rothsay moves to offer renewable energy for transportation - invests $14.5 million to produce biodiesel
Rothsay to invest over $14.5 million to produce biodiesel, a proven alternative fuel
Ville Sainte-Catherine, Monday, June 14 – Rothsay is now firmly committed to producing biodiesel, a totally “green” alternative fuel that has proven its worth, particularly with the very conclusive findings of the BIOBUS project, launched in Montréal in 2002. The company will dedicate nearly $14.5 million in total, $7 million of incremental investment in the coming months to expand biodiesel production at its Ville Sainte-Catherine plant in the outskirts south of Montréal. The 100% private investment will strengthen Rothsay’s position among the leading biodiesel producers in Canada. Work on the expansion will begin this summer and be completed next spring.
Rothsay, a fully owned subsidiary of Maple Leaf Foods Group Inc., specializes in recycling agro industry wastes (animal fat and recycled cooking oil), the main raw materials for producing biodiesel. With the investment it announced today, Rothsay will create over a dozen positions for specialists (chemists) and maintain some 60 other jobs, not counting indirect employment. It will also boost its present biodiesel production capacity of 4 million litres by 35 million litres annually, with a possible further expansion to 70 million litres.
Rothsay’s Ville Sainte-Catherine site is home to Canada's first plant for the commercial production of biodiesel.
“We are convinced that biodiesel is a winning solution, both economically and environmentally,” declared Claude Bourgault, Québec General Manager for Rothsay. “Biodiesel is a high-performance, easy-to-use fuel that helps tangibly and significantly reduce greenhouse gas (GHG) and other polluting emissions. Biodiesel has proven its worth and provides Québec with a unique opportunity to develop a very high-potential ‘green’ industry,” he added.
Québec has an abundant supply of fats. An estimated 90% of biodiesel produced in Québec could come from existing sources of fat with no pressure on farmland or threat to the environment.
“Without a doubt, biodiesel is among the future solutions for sustainable transportation. It also provides an industry hard-hit in recent years (mad cow disease) with a unique opportunity for intelligent recycling by capitalizing on wastes that are plentiful in Québec. And its a profitable solution,” concluded Claude Bourgault.
New Mosenergo Board
MOSCOW (Reuters) -- Two officials from Gazprombank, owned by gas monopoly Gazprom, have gained seats on the board of Moscow city electricity utility Mosenergo, Mosenergo said Tuesday.
The appointments confirm newspaper reports and market rumors that Gazprom had been acquiring shares in Mosenergo prior to reform of the electricity sector.
Mosenergo said in its disclosure materials that Gazprombank deputy chairmen Alexei Matveyev and Alexander Sobol would sit on its board.
Market participants said Gazprombank spent 10.9 billion rubles ($375.6 million) to buy 15.76 percent of Mosenergo last May, and 19.8 billion rubles to buy 5.3 percent in national electricity utility UES.
Mosenergo`s shareholders approve reorganization plan
29 June 2004 18:44
Shareholders of Mosenergo approved a project on reorganizing the company at an annual general meeting, which took place on June 28, 2004, a source close to the company’s Board of Directors told RBC. In fact, reforms at Mosenergo can become the first positive experience of reforming an energy company in Russia, which affects foreign investors as well. Some 99.77 percent of the shareholders, who took part in the meeting, supported the compromise achieved by the company’s management headed by Arkady Yevstafyev. In total, 82.43 percent of the shareholders, who had the right to participate in annual shareholders’ meetings, took part in this meeting.
According to the project, Mosenergo will be reorganized by means of establishing several companies without changing the authorized capital of Mosenergo. Most energy generating assets (17 electrical power stations), excluding those that are to be transferred to wholesale energy generating companies, will remain in the structure of the assets of Moscow City Generation Company, which will still use the Mosenergo brand. On the basis of Mosenergo, some four energy generating companies, Moscow city and Moscow region electrical distribution companies, a heating company, a sales company, a managing company, the main network company as well as companies that will be dealing with construction, design, repair and other services are planned to be created in the course of the reorganization of Mosenergo. At the same time, shareholders who did not take part in the annual meeting or voted against this project may offer their shares for purchase to the management of the company.
According to a preliminary schedule of the company’s reorganization, it is expected that a shareholder meeting of each newly established company will take place in November 2004 and the state registration of the new public companies will be completed by the beginning of 2005. According to agreements concluded between RAO UES and the governments of Moscow and the Moscow region, an exchange of shares of Moscow City Heating Network Company and Moscow City Electricity network Company for shares that the Moscow government has in other companies is expected to happen in the fall 2005.
In addition, dividends for 2003 totaling RUR0.02169 (about $0.0007) per common share were approved at the annual general shareholders’ meeting. As a result, the volume of dividend payments for 2003 will increase by 18 percent. The total volume of dividend payments will reach some RUR613.126m (about $21.13m). The net income of Mosenergo under Russian Accounting Standards increased by almost 2.7 times in 2003 and reached RUR1.73bn ($59.61m).
The shareholders’ meeting also elected a new Board of Directors of the company consisting of 13 people. Yury Udaltsov, a member of the Executive Board of RAO UES was elected as the Chairman of the Board of Directors of Mosenergo.
The authorized capital of Mosenergo amounts to some RUR28.267bn (about $984.39m). It is divided into the same number of shares with a par value of RUR1 (about $0.034). RAO UES owns 50.85 percent of the shares, the department of state and municipal property of Moscow together with Bank of Moscow controls about 8 percent and Gazprombank has 15.76 percent. In addition, about 9.5 percent of the shares were deposited as ADRs.
[RBCTop]
Mosenergo BOD chaired by Yu. Udaltsov.
29 June 2004 16:35
Mosenergo Board of Directors elected Yury Udaltsov, RAO UES board member, to chair the BOD, Mosenergo head Arkady Evstafiev told the press conference.
---------------------------------------------------
2 top managers of Gazprom, 4 managers of RAO UES and UES affiliated companies, 2 Moscow officials, 3 managers of Mosenergo, heads of Guta, NIKoil-Sberezheniya were elected to the 13-seat Board of Directors of Mosenergo at June 28 AGM.
Mosenergo has 28,267,726,000 rbl in stock capital.
RAO UES holds 50.87%. Gazprombank has around 15.76%, Guta-Bank - 4%, Moscow government- 8%.
FPL Energy Announces Plans for New Wind Farm in Oklahoma
http://www.energyinfosource.com/aoi/news-details.cfm?id=22036&FLink=&tf=1
June 28, 2004
FPL Energy, LLC, a subsidiary of FPL Group, today announced it will build, own and operate a new wind farm in Oklahoma capable of generating up to 106.5 megawatts. It will sell the electricity output to Public Service Company of Oklahoma, a wholly owned operating subsidiary of American Electric Power, under a long-term contract.
FPL Energy expects to construct up to 71 1.5-megawatt wind turbines on more than 3,800 acres near Weatherford in Custer County, Oklahoma. The turbines will have a generating capacity of up to 106.5 megawatts, providing enough electricity to power more than 31,000 homes. When complete, the Weatherford Wind Energy Center will be the largest wind farm in Oklahoma.
"The Weatherford project represents another important milestone in the disciplined growth of our wind portfolio and will be an excellent complement to our existing assets in the region," said Jim Robo, president of FPL Energy. "We are pleased to be bringing an additional source of clean, renewable power to Oklahoma and look forward to partnering with Public Service Company of Oklahoma on this project.
The company said the project is contingent on the extension of the federal wind energy production tax credit (PTC), which expired at the end of 2003. Construction of the project will begin only after an extension of the PTC is approved by Congress and certain other approvals are obtained.
The Weatherford Wind Energy Center will be FPL Energy's second wind farm in Oklahoma. In 2003, the company began commercial operation at the 102-megawatt Oklahoma Wind Energy Center located near Woodward in northwest Oklahoma
U.S. Windfarming, Inc. Operates as America's Only Publicly Traded Wind Energy Company
A Paradigm Shift in Energy Production and Distribution for the United States
http://www.primezone.com/newsroom/news_financial.mhtml
CHICAGO, June 28, 2004 (PRIMEZONE) -- U.S. Wind Farming, Inc. (Pink Sheets:USWF) is an emerging public renewable energy developer and operator establishing Small Distributed (15-Megawatts) Wind Turbine Agricultural Renewable Energy Cooperatives on farmers' properties nationwide. U.S. Wind Farming, Inc. is "America's only publicly traded wind energy company."
The Products and Resources
USWF expects to utilize the resources of GE Wind Energy, a division of General Electric, to provide the industry's finest available 1.5 -- 2.5 megawatt wind turbines. GE's Wind Turbines are UL Rated for 30 years (soon to be 50 years), with factory-authorized maintenance service packages available.
GE Wind Energy is one of the world's leading wind energy companies and wind turbine suppliers. With over 6,100 worldwide wind turbine installations comprising more than 4,000 MW of capacity, the company's knowledge and expertise spans more than two decades.
USWF expects to utilize Rosendin Electric, Inc. for construction, operation and maintenance of the projects. Rosendin Electric has been the industry leader in high voltage work over the past 40 years specializing in Major Wind Turbine Farms design/construction/maintenance nationwide.
USWF expects to utilize Vaisala Group to employ a state-of-the-art Wind Resource Monitoring Program utilizing technologies such as Ultrasonic Wind Sensors, Acoustic Interferometer Tomography and Radio Acoustic ("Doppler Scattering") Sounding Systems.
USWF expects to coat the propellers, nacelles and towers of its wind turbines with a specialized material from Applied Research Corporation. Applied Research has developed a proprietary Continuous-Filament Basalt Fiber and Ceramic Resonance Composite Coating for the wind energy marketplace worldwide. This Continuous-Filament Basalt Fiber and Ceramic Resonance Composite provides considerable ultra violet radiation and corrosion protection ensuring reduced maintenance for these components during the 30-50 year life span of the wind turbines.
The Future
USWF enlists farmers to "Harvest the Power of the Wind" by installing these 15-Megawatt Small Distributed Wind Turbine Agricultural Renewable Energy Cooperatives on their properties creating a 30-year annuity paid to the farmer without disturbing their ongoing agricultural operation. Each Cooperative will typically produce enough electricity to run roughly 4,500 typical homes and can provide the farmer with up to $100,000 in annual income for 30 years. Each Cooperative provides USWF with over $800,000 in net revenue annually or over $24,000,000 for the course of the 30-year fixed-rate renewable energy contract.
USWF anticipates installing 180-megawatts of renewable power generation each year providing an additional $9 million in net revenue each year. USWF negotiates with the nation's electrical utilities for fixed-rate 30-year contracts to purchase the Agricultural Renewable Energy Cooperative's electricity generated from "Harvesting the Power of the Wind" on each farmer's property.
The Cooperatives harness the energy from the wind and sell it to the agricultural community's local electrical utility and other major utilities seeking renewable energy to meet their renewable energy and fixed long-term non-fossil fuel requirements. By utilizing these Small Distributed (15-Megawatts) Wind Turbine Agricultural Renewable Energy Cooperatives, the farmers will strengthen the Electrical Infrastructure, while providing clean energy, and reducing dependence on foreign oil and gas.
Each Agricultural Renewable Energy Cooperative provides its member/investors a fixed-rate 30-year tax-free income of 7% per annum utilizing State and Federal Tax Credits, Renewable Energy Production Tax Credits and Green Credits.
US Wind Farming, Inc.'s President and CEO, William Telander, was recently featured on the new Sunday morning financial show filmed at the American Stock Exchange called "Let's Talk Stock."
"The show is dedicated exclusively to public companies that bear looking into," says producer Bernard Cerrone.
On every show, a variety of movers and shakers are on board to give investors insight into what they are up to. U.S. Wind Farming, Inc. offers a very informative web site http://www.uswindfarming.com with links to this show and further information regarding this paradigm shift in energy production and the delivery of that power in the future.
In the Pension fund JOINT STOCK COMPANY of "Mosenergo - Moscow
Regional Administration of Power System Management" will be enumerated
3 million rubles
translated - unedited
29.06.2004 g.
g. Moscow
On 31 May, 2004, the council of the directors OF JOINT STOCK COMPANY
"Mosenergo - Moscow Regional Administration of Power System
Management" approved the solution of the administration of company
about the enumeration of the additional contribution of founder in the
size of 3 million rubles into the non-governmental Pension fund (NPF)
by "Mosenergo - Moscow Regional Administration of Power System
Management". The joint contribution of the founder of the Pension fund JOINT STOCK
COMPANY of "Mosenergo - Moscow Regional Administration of Power System
Management" was increased for purposes of the participation of energy
company in the conducted in the Russian Federation pension reform
through NPF of "Mosenergo - Moscow Regional Administration of Power
System Management".
For the participation NPF of "Mosenergo - Moscow Regional
Administration of Power System Management" in the pension reform in
accordance with the federal law OF RF "about the non-governmental
Pension funds" the size of the joint contribution of founders must in
2004 comprise not less than 3 million rubles, and since 2005 - not less than 30 million rubles. Therefore for purposes of the retention OF NPF and its further
development energy company plans to transfer to 2005 the additional
contribution in the size of 30 million rubles.
NPF of "Mosenergo - Moscow Regional Administration of Power System
Management" is corporate non-governmental Pension fund - the
noncommercial organization of social welfare. It is founded by the solution OF JOINT STOCK COMPANY of "Mosenergo -
Moscow Regional Administration of Power System Management" on 20
October, 1993, in accordance with the President's Decree of the
Russian Federation "about the non-governmental Pension funds". The basic purposes of creation NPF of "Mosenergo - Moscow Regional
Administration of Power System Management" is an increase in the
social protection of pensioners - the former workers of Moscow energy
company, in the form of the payments by them of non-governmental pension. Another most important planned direction of the activity OF NPF
"Mosenergo - Moscow Regional Administration of Power System
Management" - participation in the pension reform - the accumulation
of the means of pension accumulations, the organization of their investment for the purpose of obtaining the
investment income, designation and the payment to the storage part of the working and
professional pensions to the insured persons. Today fund attends almost 9 thousand. the inoperative pensioners, which monthly obtain additional payment to the state pensions.
At the present moment specialists NPF developed the new rules of the
Pension fund, and there will soon be podana claim into the authorized federal organ
of executive power to obtaining of new license on the realization of
activity in the non-governmental pension guarantee and the required
pension insurance.
After the restructuring JOINT STOCK COMPANY of "Mosenergo - Moscow
Regional Administration of Power System Management" each isolated
enterprise will independently conclude with NPF of "Mosenergo - Moscow
Regional Administration of Power System Management" the agreement
"about the non-governmental pension of its workers" and independently
establish the level of the non-governmental pension of its pensioners.
Ministry proposes to merge hydro gencos
Interfax. Tuesday, Jun. 29, 2004, 6:10 PM Moscow Time
MOSCOW. June 29 (Interfax) - The Russian Economic Development and Trade Ministry has already sent a proposal to the Industry and Energy Ministry to merge four wholesale generating companies (gencos), to be set up based on hydroelectric plants, into a single company, First Deputy Economic Development and Trade Minister Andrei Sharonov told Interfax.
He said that to merge the hydro gencos the Economic Development and Trade Ministry plans to make amendments to a government resolution that confirms the setting up of 10 gencos. "Now, instead of hydro gencos No. 7, No. 8, No, 9 and No. 10 there should be one," the deputy minister said.
Sharonov said that the Economic Development and Trade Ministry does not plan to prepare a separate directive for state representatives on the board of directors of Unified Energy System of Russia about the unification of the hydro gencos. "It may be signed only to reach a decision on the setting up of this concrete company," he said.
Deputy Prime Minister Alexander Zhukov on June 2 directed the Industry and Energy Ministry and the Economic Development and Trade Ministry to submit a draft decision on this issue within two weeks. However, it has not yet been submitted.
A government resolution confirming the configuration of the future gencos was passed in 2003. According to this document, it was planned to include Volga-Kama Cascade Hydroelectric Plant and Caucasian hydroelectric plants into the sixth and seventh gencos, Siberian and Far East hydro plants into the eight; the ninth was to be set up based on one plant - Zagorsk Hydro-Accumulator Station, which is currently part of OAO Mosenergo.
The concept for the reform of the electricity sector states that the government will not reduce its stake in hydro generation or, as a result, in the hydro gencos being set up
Mosenergo expects few shares to be redeemed
RosBusinessConsulting. Tuesday, Jun. 29, 2004, 6:08 PM Moscow Time
The management of Mosenergo believes that the number of shareholders wishing to offer their shares for redemption will be insignificant. Mosenergo Senior Deputy General Director Dmitry Vasilyev declared at a news conference in Moscow today that a vast majority of the shareholders in the company had voted for the drafted program of reforms in the company at the annual general meeting. According to him, this shows serious confidence in the management, and therefore, the number of shareholders wishing to sell their shares will not be high. However, the company has reserved finds for buying out shares. If the amount of shares to be bought out is low, the funds that have been reserved will be allocated for the company's internal needs, Vasilyev pointed out. Additionally, these funds may later be necessary for founding new joint-stock companies to be separated from Mosenergo. Vasilyev underlined that a decision to submit shares to the management for redemption would hardly be efficient, as the present market price of the company's shares is higher than the price estimated by an independent appraiser. The deputy general director of Mosenergo added that complete understanding with all creditors had been reached, and none of them would require that the company fulfill its liabilities ahead of schedule with regard to the reforms. Liabilities to foreign creditors will be reassigned to the power generating company, which will keep the Mosenergo name, Vasilyev remarked. As reported earlier, Mosenergo's shareholders approved a drafted program of reforms in the company on June 28. Under Russian law, shareholders who did not participate in the voting on this issue or voted against this decision are entitled to submit their shares for redemption.
Ministry proposes to merge hydro gencos
Interfax. Tuesday, Jun. 29, 2004, 6:10 PM Moscow Time
MOSCOW. June 29 (Interfax) - The Russian Economic Development and Trade Ministry has already sent a proposal to the Industry and Energy Ministry to merge four wholesale generating companies (gencos), to be set up based on hydroelectric plants, into a single company, First Deputy Economic Development and Trade Minister Andrei Sharonov told Interfax.
He said that to merge the hydro gencos the Economic Development and Trade Ministry plans to make amendments to a government resolution that confirms the setting up of 10 gencos. "Now, instead of hydro gencos No. 7, No. 8, No, 9 and No. 10 there should be one," the deputy minister said.
Sharonov said that the Economic Development and Trade Ministry does not plan to prepare a separate directive for state representatives on the board of directors of Unified Energy System of Russia about the unification of the hydro gencos. "It may be signed only to reach a decision on the setting up of this concrete company," he said.
Deputy Prime Minister Alexander Zhukov on June 2 directed the Industry and Energy Ministry and the Economic Development and Trade Ministry to submit a draft decision on this issue within two weeks. However, it has not yet been submitted.
A government resolution confirming the configuration of the future gencos was passed in 2003. According to this document, it was planned to include Volga-Kama Cascade Hydroelectric Plant and Caucasian hydroelectric plants into the sixth and seventh gencos, Siberian and Far East hydro plants into the eight; the ninth was to be set up based on one plant - Zagorsk Hydro-Accumulator Station, which is currently part of OAO Mosenergo.
The concept for the reform of the electricity sector states that the government will not reduce its stake in hydro generation or, as a result, in the hydro gencos being set up
Nuvera and Takagi Join to Develop Fuel Cell Systems for Japanese Market
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/06-29-2004/0002201471&...
First Geothermal Power Plant Comes On Stream
Tehran Times Energy Desk
TEHRAN (MNA) -— Following the completion of drilling operation of the first geothermal well in Meshkinshahr, Iran’s first geothermal power plant came on stream, news reports said here on Monday.
Being the first of the five series to be drilled in the northwestern region, the well provides required thermal power for the power plant by making use of the earth’s internal heat, Iran’s Petroenergy Information News (PIN) reported.
The report also noted that the first surveys for the construction of the power plant, the second of its kind in the Middle East, was carried out by Italy’s Electricity Company some 20 years ago.
Capable of producing two megawatts of electricity, the power plant can produce up to 100 megawatts of electricity by drilling more wells, the report also explained.
The useful lives of geothermal power plants are estimated to be 30 years but there are currently power plants in Italy that are 94 years old, the report further commented.
Electricity supply reduced to water intake facility in the city of Yelizovo of Kamchatka
29.06.2004, 08.08
PETROPAVLOVSK-KAMCHATSKY, June 29 (Itar-Tass) - The Kamchatskenergo electricity company has restricted electricity supply to the water intake facility of the city of Yelizovo, the second biggest city on the Kamchatka Peninsula, company sources told Itar-Tass on Tuesday.
No restrictions have been introduced as of yet to facilities ensuring water supply for the population of the city, but measures can be tightened as debts of the water intake facility have exceeded 51 million roubles.
The electricity company has offered the administration a scheme of debt payment, but no money has been paid so far. It will be impossible to solve the problem without the help of the local budget. However, at the present moment the regional administration has no money to help the debtor financially. That means electricity restrictions will continue, the sources stressed.
Mosenergo 2003 dividend up 18.5% on year - 0.02169 rbl/common stock and 613.1 mln rbl overall.
29 June 2004 12:41
Mosenergo will pay 2003 dividend of 0.02169 rbl/common stock. Stock par is 1 rbl.
The respective decision was taken by the holders at the annual meeting on June 28.
613,126.976 ths rbl will go for dividend purpose overall, 18.5% up on year.
59.6% of the net profit will go to the accumulation fund, 5% - to reserve fund, 35.4% - for dividend purpose.
2003 net profit increased 2.7 fold to 1,730.98 mln rbl under RAS from 646.25 mln rbl a year earlier. IAS net profit stood at 737 mln rbl vs. the net loss of 2,341 mln rbl.
Mosenergo has 28,267,726,000 rbl in stock capital. 28,267,726,000 common stocks, 1 rbl par each, were released. Renaissance Capital holds around 12%, Guta Bank - 4%, Moscow government - 8%.
RAO UES holds 50.87%.
[AKM]
RSM-Top-Audit to audit Mosenergo for another year.
29 June 2004 12:49
RSM-Top-Audit Auditing & Consulting Group will audit Mosenergo report both under RAS and IAS accounting standards in 2004.
The auditor was approved by the holders at June 28 AGM.
RSM-Top-Audit has been auditing Mosenergo reports since 2001.
[AKM]
Mosenergo holders seal the company`s reorganization.
Mosenergo holders approved of the company's reorganization at June 28 AGM.
29 June 2004 13:05
As planned, Mosenergo will reorganize by splitting off the Management Energy Co., Backbone Grid Co., Moscow City's Power Grid Co., Moscow Heating System Co., Moscow Region's Power Grid Co., Mosenergosbyt, Special Design & Construction Bureau for Repair & Rebuilding. Mosteplosetenergoremont, Mosenergosetstroy, GRES-4, GRES-5, GRES-24, Zagorskaya GAES.
The stocks will be distributed among the holders.
Mosenergo holders voted against reorganization or refused to vote, may sell their stocks over 45 days after the voting, i.e. before Aug. 12, 2004. ADR holders have the similar right. Mosenergo may allocate max. 10% of the net assets (as of June 28, 2004) to buy out the stocks.
RIA "Siberian news"
translated
Irkutskenergo in the middle of June signed the agreement with RAO
"EES OF RUSSIA" and "federal net company" on the services of
supervisory control. On this to agency "Siberian news" reported the general director of
energy company Vladimir Kolmogorov. According to him, agreements provide for the separation of services between the
companies for the guarantee of supervisory control with the electric
transmission into the federal wholesale market for electric power
(power), and also with the overflows of electric power between the regions.
Chubais sees OGK issue resolved after December 2 govt meeting
http://www.prime-tass.com/news/show.asp?topicid=61&id=353090
MOSCOW, June 28 (Prime-Tass) -- The issue of establishing wholesale generating companies (OGKs) in Russia may be tackled after the government’s December 2 meeting, the Chief Executive of Russia’s power grid monopoly UES Anatoly Chubais told reporters Monday.
He was commenting on Prime Minister Mikhail Fradkov statement last week that a decision on the establishment and sale of OGKs would be delayed until the year-end. Chubais said that “this is not good news for those who are pushing for power sector reform.”
The news caused Russian stocks to lose U.S. $500 million in ten minutes, he added.
But Chubais admitted that reform of the Russian power sector would only be possible with the firm backing of the government.
“If the government says it needs six months to decide on OGKs, then we will do our utmost to help it come to a decision,” Chubais said.
UES had planned that the issues concerning the establishment and sale of OGKs would be finalized on June 25 at a meeting of the board of directors of UES.
But the governmental directive on OGKs for government representatives on the company’s board was not approved before the meeting took place. Fradkov said last week that the government was still undecided as to how the OGKs were to be created, reiterating that the issue should be thought through carefully.
According to the power sector restructuring plan, of the ten OGKs that are to be set up on the basis of the country’s largest power plants, the government will retain control of the four that will incorporate hydroelectric power stations, while stakes in the remaining six OGKs, created on the basis of thermal power plants, will be sold.
UES’ strategy and restructuring committee recommends that the charter capital of OGK-1, OGK-2, OGK-4 and OGK-6 be set up with cash, while OGK-3 and OGK-5, with cash, shares of UES’ subsidiaries, and UES’ property.
It was preliminary decided that OGK-5 is to be sold first. (29.0256 rubles – U.S.$ 1) End
28.06.2004 19:34
Intermagnetics' Superpower Subsidiary Begins Construction Phase of HTS Cable Project for New York Utility
http://www.energyinfosource.com/aoi/news-details.cfm?id=22042&FLink=&tf=8
CNE: 140MW of renewable energy by 2007 - Nicaragua
Monday, June 28, 2004 16:49
Nicaragua's energy commission CNE plans to bring online about 140MW of renewable power by 2007 through investments estimated at some US$185mn, CNE president Raúl Solórzano told BNamericas.
The projects include a US$100mn, 66MW geothermal project, two 20MW wind projects valued at approximately US$22mn each and a US$40mn, 30-50MW hydroelectric project, he said.
Local company San Jacinto Power has just started construction on the three-stage geothermal project in the Managua department. The first two stages consist of four 5MW turbines. Completion of the first 10MW stage is scheduled for December and a subsequent 10MW is expected to come online by December 2006. In the third stage, an additional 46MW will be added through two 23MW turbines by end-2006 or early 2007.
Two separate wind development project companies, which Solórzano did not name, are currently making financing arrangements and have secured at least a portion of the capital needed through northern European companies where the technology for wind generation machinery is abundant, he said.
The two wind projects are expected to be in operations in about one and a half years.
Wind and run-of-the-river projects are attracting interest from many companies. But investors are waiting for the government to detail specific regulations that would characterize the projects as non-dispatchable, allowing them to inject power into the system without having a prior agreement with the system operator on the amount of electricity or when it is delivered.
"We have investors in wind energy that are not only interested in these projects, they are just waiting for [the non-dispatchable] regulations to be passed," Solórzano said, adding that he expects the regulations to be passed in the upcoming month.
The Honduran consortium Emce is developing the 30-50MW hydro project and is likely to decide the project's location "within the next few weeks," he said. Operations are set to begin in 2-2.5 years.
These projects contribute to the target of bringing online 150-180MW of renewable energy in Nicaragua by 2008, he said
RUSSIA, FRANCE DISCUSS DEVELOPMENT OF MODERN ENERGY SOURCES
MOSCOW, June 28 (RIA Novosti) - Russian Industry and Energy Minister Viktor Khristenko has discussed the outlook for developing modern energy sources with general administrator of the French Atomic Energy Commission Alain Bugat.
The meeting was held on Monday, the ministry's said in a press release.
The parties discussed the prospects of using fuel elements as a new source of energy, hydrogen to produce electricity, as well as renewable sources, that include solar, wind, hydraulic, geo-thermal energy, as well as energy of biomass, mining gas, and low-potential thermal energy of different environments.
These resources are inexhaustible and environmentally safe, which determines their intensive use, the statement reads.
Both countries are engaged in research in these spheres, the ministry pointed out.
According to its estimates, the technical potential of renewables is about 4.6 bln tons of equivalent fuel annually, that is, five times more energy products that Russia consumes. Their economic potential has increased significantly since traditional fuel has become more expensive, while equipment for renewable power production has become cheaper in recent years.
Specialists calculate that in 2010 renewable sources can help put into operation about 1,000 MW electricity and 1,200 MW thermal capacities, which will require adequate state support, as well as joint Russian-French developments.
Individuals share dn from 13.2% to 8.05% in Chelyabenergo stock capital.
28 June 2004 19:09
The share of individuals in stock capital of Chelyabenergo slid from 13.2% to 8.05% in 2003, AK&M learnt from the documents made out for June 25 AGM.
As of Jan. 1, 2003, individuals (Russia's residents) held 13.2% Chelyabenergo. However their stake went dn to 8.05% on Jan. 1, 2004.
Simultaneously, the share of entities and nominal holders widened to 27.23% (on Jan. 1, 2004) vs. 22.1% on Jan. 1, 2003. Legal persons - non-residents held 0.6%, residents - 0.7%, nominal holders - 20.8%).
RAO UES stake stands still at 49%, Russia's Property Ministry has 15.72%.
Chelyabenergo has 5,506,606,270 rbl in stock capital split into 4,647,386,854 common stocks, 1 rbl par each, and 859,213,916 preferred stocks (A-class), 1 rbl par each.
The company's register set forth 8,219 holders as of Jan. 1, 2004 (less nominal holders).
--------------------------------------------------
Chelyabenergo capitalization up 2.8 fold to $162.9 mln.
Chelyabenergo capitalization widened 2.8 fold over the year, to $162.9 mln from $57.4 mln, Chelyabenergo GD V. Seredkin said over the June 25 AGM.
RAO "UES of Russia" and Enel-ESN Energo signed a General Agreement and a Management Contract to operate the North-West TPP
Moscow, June 28, 2004
RAO "Unified Energy System of Russia" ("RAO UESR") and Enel-ESN Energo signed today a General Agreement and a Management Contract to operate the North-West Thermal Power Plant ("NWTPP") near St. Petersburg. The documentation was signed by Anatoly Chubais, CEO of RAO UESR, Paolo Scaroni, CEO of Enel, and Grigory Berezkin, CEO of ESN.
The NWTPP management contract places management control of a key Russian power asset in the hands of a consortium led by a major international electricity company for the first time.
The Italian-Russian consortium of Enel (Italy) and ESN (Russia) won the tender to manage the NWTPP in February 2004. Enel-ESN Energo participated in the tender along with 9 other major international power utilities satisfying strict prequalification criteria: installed generating capacity (owned or under management) over 5,000 MW, revenue in 2002 over $5bn, experience in managing international assets, credit rating – investment grade or above. These companies were given an opportunity to conduct a detailed due diligence of the NWTPP, including site visits. Two of them, Enel-ESN Energo and Fortum, submitted final binding bids. JPMorgan has been advising RAO UESR on the financial aspects of this transaction and law firm Akin, Gump, Strauss, Hauer & Feld, LLP has been acting as legal advisor to RAO UESR.
According to the key terms of the Management Contract approved by the Board of Directors of RAO UESR, the Management Company will act as the sole executive body of the plant for the next three years, and will also organize about US$125mm of financing to complete the construction of the second generating unit.
RAO UESR are confident that the involvement of Enel-ESN Energo will bring a significant improvement in technological and organisational efficiency of the NWTPP, given Enel’s management and technological expertise in managing CCGT plants of similar design, combined with ESN’s successful experience of managing Russian power assets. Enel-ESN Energo obtains, in turn, a unique opportunity to enter the Russian power market, a market with strong growth potential, in order to gain practical experience and to determine future investment opportunities.
***
The North-West Thermal Power Plant is located near St. Petersburg in the North-West region of Russia and is the most technologically advanced in Russia, utilising a modern Combined Cycle Gas Turbine technology. The plant’s efficiency ratio amounts to 51.5%, compared to less than 40% for common steam units. The first generating unit of the power plant has an installed capacity of 450 MW. Commissioning of the second generating unit will enable a capacity upgrade up to 900 MW. RAO UESR possesses a 61.8% stake in the NWTPP.
RAO UESR is the world’s largest power holding, providing for reliable operation and development of the Unified Power System of Russia. RAO UESR controls more than 70% of Russia’s power capacity and output and about one third of country’s heat output. In 2003 the holding’s revenues amounted to RUB 724.9bn, RAS. Current market capitalisation exceeds US$12bn.
Enel is Italy’s major electricity company with over 40,000 MW of installed capacity and a market capitalization of approximately ˆ40 billion. It is involved in the generation, transmission and distribution of electricity, and is also the country’s second biggest gas distributor. It is also the European leader in the use of CCGT technology with over 5,000 MW of installed CCGT capacity, and a world leader in renewable energy production with approximately 17,000 MW of installed renewable capacity in Italy, Spain and the Americas. Its 2003 revenues amounted to ˆ31.3 billion, EBITDA was ˆ9.8 billion and net income was ˆ1.1 billion.
ESN is a group of companies led by Grigory Berezkin, specializing in strategic and crisis management. Until 1999 ESN was managing oil company "Komi TEK" and until 2003 – the regional energy system "Kolenergo". The group is currently one of the largest shareholders of RAO UESR, holding a 5.3% stake in it.
The decision to outsource OGK may be taken at Dec. 2 sitting of the Government, A. Chubais says.
28 June 2004 16:58
[AKM]
RAO UES, Enel ESN Energo Consortium sealed the contract for 3-yr management of Seveno-Zapadnaya TETs.
28 June 2004 17:41
RAO UES and Italian/Russian Enel ESN Energo sealed June 28 the general agreeemnt and the contract to manage Severo-Zapadnaya TETs. RAO UES CEO A. Chubais, Enel Managing Director P. Scaroni, ECH Group's Board Chairman G. Berezkin, TETs BOD Chairman S. Dubinin signed the documents.
4 documents were signed overall, incl. three party agreement between RAO UES, ENEL SPA, ECH; the contract between Severo-Zapadnaya TETs and the management company (signed by G. Berezkin and A. Chubais) and two backing agreements (signed between S. Dubinin and G. Berezkin and between S. Dubinin and P. Scaroni).
The delegation of Italian legislators visited TETs-27 JOINT STOCK
COMPANY of "Mosenergo - Moscow Regional Administration of Power System
Management"
translated - unedited
28.06.2004
Moscow
On 22 June within the framework of weekly visit to Russia the
delegation of the senate of Italian republic visited one of the
ecologically clean power stations themselves to Europe - TETs-27 JOINT
STOCK COMPANY of "Mosenergo - Moscow Regional Administration of Power
System Management". Within the framework of encounter Italian parliamentarians and Moscow
of power engineering conducted "round table" on questions of the
development of ecological safety system in JOINT STOCK COMPANY of
"Mosenergo - Moscow Regional Administration of Power System
Management".
Italian delegation arrived at the invitation of Russian associates
from the Federation Council RF. Heads delegation the chairman of the commission of the senate of
Italian republic on the protection of environment Emiddio of virgin
soil. On 21 June took place official encounter Emiddio of virgin soil and
first Deputy Chairman of the committee of Federation Council for
natural resources and protection of surrounding media Nikolai
Churkina. Purpose of the visit of Italian parliamentarians - exchange of
experience and of opinions on a number of crying problems in the
sphere of the protection of environment. In particular, it is planned to estimate ecological situation and prospects for the
connection of Russia to The kiotskomu protocol.
JOINT STOCK COMPANY of "Mosenergo - Moscow Regional Administration of
Power System Management" is the most important regional energy company
of Russia and forms the largest and significant production in Moscow. The nature-conservation activity of energy company in many respects
determines the ecological situation in the region, therefore the members of Italian delegation expressed the desire to
visit within the framework of their visit of enterprise, entering the structure JOINT STOCK COMPANY of "Mosenergo - Moscow
Regional Administration of Power System Management".
The conducted in the energy company nature-conservation measures to
Italian parliamentarians demonstrated based on example TETs-27 JOINT
STOCK COMPANY of "Mosenergo - Moscow Regional Administration of Power
System Management". During the trip on TETs-27 delegation they accompanied the first
adviser on economic questions of the embassy of Pierre- Francesco
Dzadzo's Italy in Russia, the director of power station Igor Dolinin, and also the representatives of the general board JOINT STOCK COMPANY
of "Mosenergo - Moscow Regional Administration of Power System
Management": the division head of foreign economic ties and protocol Dmitriy
Trofimov, the chief of a service of ecology to Peter Bubley.
In the completion of encounter Emiddio of virgin soil noted the high
level of the organization of nature-conservation activity in the
enterprises OF JOINT STOCK COMPANY "Mosenergo - Moscow Regional
Administration of Power System Management". In particular, he stated, that visit TETs-27 JOINT STOCK COMPANY of "Mosenergo - Moscow Regional
Administration of Power System Management", It goes without saying, it became for the delegation of the commission of the senate of
Italian republic on the protection of environment to "one of the
brightest and memory events in the program of a stay in Russia".
"the concern about the ecology of region is one of the priority
directions of the work" of Mosenergo - Moscow Regional Administration
of Power System Management ", - he noted Peter Bubley. - for these purposes energy company conducts the modernization of
equipment and injects in the production new technologies. As a result in comparison with the data 1993 the ejections of the
basic pollutants from TES JOINT STOCK COMPANY of "Mosenergo - Moscow
Regional Administration of Power System Management" were reduced
almost two. By nonaccidentally its motto company selected words "to the light, to heat and to pure air ".
SUEK may widen its stake in RAO UES from today`s 6%.
28 June 2004 12:44
Siberian Coal & Energy Co. (or SUEK) may widen its stake in RAO UES vs. today's 6%, SUEK GD V. Rashevsky told Vedomosti.
SUEK is mostly regarding RAO UES stocks as portfolio investments today, V. Rashevsky said.
When reorganized, SUEK sees itself as a strategic investor with the energy as profile business for many years running. The company will concentrate on generation and first of all on the territorial generation companies established based on those AO-energo where SUEK holds large stakes, V. Rashevsky said.
Congressmen push for wind power study
http://www.thestate.com/mld/thestate/business/9026972.htm
Fradkov Unplugs Power Reforms
Monday, June 28, 2004
http://www.themoscowtimes.com/stories/2004/06/28/001.html
By Lyuba Pronina
Staff Writer Prime Minister Mikhail Fradkov pulled the emergency break on energy reform Friday, halting any and all sales of generating assets until his government can determine how privatizing huge swaths of the electricity sector will benefit society.
The government had been expected to approve a plan drafted by Unified Energy Systems to group dozens of power plants scattered across the country into 10 wholesale generating companies, six of which would then be auctioned off for cash or UES shares.
But Fradkov announced Friday that the government is temporarily freezing reforms because it is concerned not only about the plans to privatize wholesale generating companies, known as OGKs, but also about how restructuring of the sector as a whole has been handled since 2001.
"At a government meeting at the end of the year [we will] thoroughly analyze the efficiency of the work that has been done since 2001 and determine what further steps need to be [taken]," Fradkov told reporters after a meeting with senior government officials, Interfax reported.
"The issue of separating OGKs is an element of energy reform and the government should start to make a decision on this issue after a comprehensive assessment of this reform's progress," he said.
The OGK issue is at the center of a years-long government drive to introduce elements of competition -- and thus private capital -- into the electricity sector by overhauling and then breaking up state-controlled UES and selling off some of its assets.
Many wealthy industrialists have spent the last year building up small stakes in UES on the expectation that they would be able to swap them for bigger stakes in specific generating assets that would fit well with their existing business interests, such as aluminum production. Foreign investors have also been along for the ride, which has seen UES's share price rise from 15 cents since early 2002.
Now, however, all those plans are in doubt. In the minutes after Fradkov's announcement, the price of UES shares dropped some 4 percent on MICEX, and some analysts now expect the market value of the world's largest electricity company by installed capacity, currently just over $11 billion, to be cut in half in the coming weeks.
"Chubais had staked everything on the OGK plan. Now the whole reform has practically ground to a halt," said Andrei Zubkov of Trust investment bank. "It makes no sense to talk about liberalization now that there won't be any competition."
Zubkov said it was hard to see why investors would want to hold on to their UES shares now that it looks unlikely that those shares will be able to buy generating assets any time soon. "You don't have to go to a fortune teller for that," he said.
For five straight months, the UES board, citing "technical delays," failed to make a final decision on the makeup and auction conditions of the OGKs.
This time, however, the delay does not "look technical," Zubkov said. Rather, it looks like a "political delay" by "some people in very powerful circles who do not want OGKs to be privatized," he said, adding that the recent developments surrounding Yukos may have played a role.
"It may well be that [President Vladimir Putin] does not want to see the same mistakes that were made in privatizing the oil industry repeated in the electricity industry," Zubkov said.
Chubais, the UES chief, oversaw the bulk of early privatizations and has been called the father of the oligarchs for his efforts. Interestingly, Fradkov said that one reason for the indefinite delay in UES reform was that the OGK issue was "attracting special public attention."
"The concern of investors is clear, and the resolution of this issue is important for investors to further identify their economic strategy," Fradkov said.
Earlier this month, metals magnate Oleg Deripaska, owner of Russian Aluminum, the largest corporate electricity consumer in the country, called on the government to delay creating and selling the OGKs because he said it would cause chaos in the industry.
"We are pleased the government agrees with our position," said David Geovanis, who represents Deripaska's holding company, Basic Element, on the UES board.
"We are all in favor of reform and a free market for electricity, but the kind of chaotic, shooting-fire process that is going on now is irrational," Geovanis said by telephone. "[Fradkov's decision] is good news for shareholders and good news for the country," he said.
Other minority UES shareholders, however, said just the opposite.
"This is alarming ... very disappointing," said former UES board member Alexander Branis, director of Prosperity Capital Management.
"From the shareholders' point of view, the proposals on reform are not ideal and could be further developed. But it should not take six months," Branis said.
Chubais himself played down the developments, although he said he and other UES executives were becoming increasingly frustrated.
"He did not say a single word about stopping energy reform," Chubais said in a conference call with investors, referring to Fradkov. "No doubt, the fact of delaying major decisions on the reorganization of the company cannot but frustrate management and everyone else who is concerned."
"For us, the task of reforming the electricity industry can only be accomplished with the clear, complete and unambiguous support of the government," Chubais said. He added, however, that there are two key pillars to the reform blueprint -- strengthening government control over the national grid and other infrastructure, while simultaneously creating and privatizing large generating companies that will compete with each other.
"Rejecting either of these ideas would devastate the entire [reform] concept," Chubais said. Some analysts, including Sergei Suverov of Zenit Bank, said it was unlikely the reform effort would be derailed for good.
"It may be that the government just decided to review the structure of a few OGKs, such as those with large gas-powered stations so that Gazprom could play a larger role in the industry," Suverov said.
"It would not be beneficial to the state to curb the reform, otherwise it will have to finance the upgrade of facilities [itself]," he said.
'Green' homes starting to flower despite cost
http://www.baltimoresun.com/business/realestate/bal-re.green27jun27,0,7903729.story?coll=bal-realest...
Inventors harness energy in the babbling brooks of Europe
Czech inventor Miroslav Sedlacek happened on a workable idea while relaxing by a Morovian brook -- turning the energy of swirling eddies into electricity
http://www.taipeitimes.com/News/bizfocus/archives/2004/06/27/2003176762
Russia May Soon Ratify Kyoto Protocol
— Security Council Chief
http://www.mosnews.com/news/2004/06/25/kyoto.shtml
MosNews
25.06.2004
Russia may soon ratify Kyoto protocol on climate change, Russian Security Council chief Igor Ivanov said Friday.
Visiting Japanese Foreign Minister Yoriko Kawaguchi, he said that he expected that Russia could give a positive answer in a not too distant future, Reuters reported citing Kyodo news agency.
In May, Russian President Vladimir Putin said that Moscow would move to ratify the protocol after an agreement with the European Union on entry to the World Trade Organisation.
Earlier this month, the head of the U.N. Environment Programme, Klaus Toepfer, quoted by Reuters said he expected Russia to ratify by the next meeting of Kyoto signatories, scheduled for December in Buenos Aires.
In preparation for the heating season, AO MOSENERGO tested and repaired more than 40% of water lines
16.06.2004
In 2004, the Heating Grids of AO MOSENERGO have started the maintenance campaign on May 11. Currently, all operations are conducted in the strict compliance with the schedule.
Under the annual guidelines on prepation for the heating season, AO MOSENERGO carries out mandatory testing of heating lines that results in 21-day water supply switch-off in Moscow. The length of this period was approved by the Moscow Government. AO MOSENERGO has to cut water supply to test parts of the water supply system. AO MOSENERGO has never extended maintenance perod and on many occasions completed the work earlier than was planned. In October, the Company's divisions receive readiness certificates that confirm their preparedness for winer operation.
As of today, AO MOSENERGO has repaired more than 913 km of main heating lines which equals 41% of the total maintenance volume. From the start of the maintenance campaign AO MOSENERGO detected and eliminated 1,830 pipe defects. AO MOSENERGO plans to complete the maintenance by end-August.
In preparation for the winter peak load AO MOSENERGO will lay 70 km of new pipes. In addition, in 2004, the company will lay 12 km of pipes insulated with polyurethane foam that are more reliable and have longer operation lives. As a result, the total length of new insulated pipes will grow 16%.
In accordance with the plan, AO MOSENERGO carries out maintenance on pump stations. In the second half of August, the Company will carry out overall testing and then will put them into operation. In addition, in IIIQ04 AO MOSENERGO will complete Businovo pump station which will help to improve the heating services in the Northern District.