Restructuring - Results

2002

August 30, 2002. UES of Russia Board of directors approved of Main principles of dividing balances at AO-energo restructuring.

June 25, 2002. ÎÀΓFGC UES” was established as 100% affiliated dependent UES of Russia company with the purpose of managing United national networks.

June 13, 2002. In accordance with the RF Government Regulation N 526 “On reforming of the RF energy industry” OAO “UES SO-CDU” was established with UES of Russia as a sole founder. By June 30, 2004 62 AO-energo companies transferred operational and control functions to RDU affiliates of OAO “UES SO-CDU”.

May 14, 2002. UES of Russia approved of OAO “Tulenergo”, OAO “Orelenergo”, OAO “Kalugaenergo” and OAO “Bryanskenergo” restructuring with their subsequent inter-regional integration.

April 5, 2002. The RF Government Decree N 471-ð introduced amendments to the Government Regulation N 1040-ð “On plan of primary activities at the first stage of RF energy industry reforming”.

April 2, 2002. The RF Government Regulation approved of “Basics of pricing for electricity and heat energy in the Russia Federation”.

March 6, 2002. In accordance with the RF Government Regulation N 526 UES of Russia Board of directors developed and approved of the basic project of AO-energo reforming, which included establishment of one or several generative companies on the basis of AO-energo, distribution network company, sales company with proportional distribution of newly established companies shares between AO-energy shareholders. Besides, approaches to inter-regional consolidation of Networks Company were approved.

In the performance of the Board of directors’ resolutions the Act N 200 was issued, defining major parameters of AO-energo basic reforming project. All AO-energo reforming projects should be coordinated with the basic one except separate cases (technical limitations, absence of some activities, impossibility of the project coordination with parties interested).