Unified Energy System of Russia
(UES)

ANNUAL REPORT

1999

CONTENTS

• Summary of Perfomance Results
• Letter to Shareholders by A.S. Voloshin
• Letter to Shareholders by A.B. Chubais
• Unified Energy System of Russia
  • Overview
  • Organisational Structure of RAO UES of Russia
  • Priority areas for restructuring within RAO UES of Russia in 1999
  • Urgent measures taken by management
  • The year 2000 problem
• Production
  • Production results
  • Organisation of the Dispatch Management
• Electricity and Heat Market
  • Tariff Policy
  • The consumer market in electricity and heat energy
  • FOREM and Reform
  • Areas of Improvement in FOREM
  • Improving the Marketing of Energy
• Investments and Innovations
  • Company Investment Policy in 1999
  • Results of Investment Activity
  • Research and Development Activity
• International Relations
  • Developing International Co-operation
  • Exports of Electrical Energy (Power)
  • Major Investment Projects in the Development of Exports
  • Development of Foreign Links and International Co-operation
• Financial Management
  • Improving a System of Financial Management
  • Results of Credit Activity
• Asset Management
• Share Capital
  • Capital and Distribution of Shares
  • RAO UES of Russia Securities Markets
• Board of Directors and Management Board
  • Board of Management of RAO UES of Russia
  • Board of Directors of RAO UES of Russia
• Information for Shareholders
• Appendix
  Shares held by RAO UES of Russia in the authorised capital and voting shares of subsidiary joint stock companies in the energy power sector (as of 01.01.2000)

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