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
