Energy System of East to draw up asset consolidation plan in 2014
MOSCOW. May 6 (Interfax) - RAO Energy System of East will draw up an asset consolidation plan over the course of 2014, RusHydro , which manages Energy System of East, said in materials.
The consolidation plan is included in the company's list of priorities for growth in 2014 which is scheduled for approval by the board of directors before the end of May.
The consolidation aims to optimize the corporate structure and raise management efficiency, the materials say.
Other priorities include approving a program for future development of the power generation complex in the company's area of operations in the Far Eastern Federal District running to 2025. OJSC TEK Mosenergo is already working on that document.
There are also plans to work on the efficient use of money from the National Welfare Fund (NWF) on construction projects in the Far Eastern district. So far Energy System of East has not received any NWF money.
Another priority is modernizing and raising the efficiency of distribution subsidiaries, de-monopolization of the fuel and energy market in the Far Eastern district and expansion of competition among fuel suppliers.
The company also plans to work to draft legal mechanisms concerning return on investment for construction of new generating capacity outside the price zones of the wholesale market in electricity and capacity. It will also work with the authorized government bodies on introducing long-term tariff regulation for electricity and transmission on isolated power systems and outside the price zones.