Russian Grids to put one more subsidiary under EDRF management - newspaper
MOSCOW. March 12 (Interfax) - Russian Grids may soon put one other subsidiary under the management of French ERDF, Vedomosti reported, citing two sources close to Russian Grids and a source familiar with top management at ERDF.
Transfer to ERDF of either Kubanenergo or IDGC South , both located in southern Russia, is being discussed, one of the Russian Grids sources said.
ERDF has conducted an audit of Kubanenergo and IDGC , so most likely one of those will be transferred into its management, the other sources told Vedomosti. The three sources agreed that no final decision has been made yet.
The Russian Grids source also confirmed that the sides had agreed on the possibility of developing cooperation in other regions but did not provide more detail. The ERDF representative declined to comment.
Russian Grids' cooperation with ERDF is now in its second year. In 2012 a subsidiary, ERFD Vostok, took over management of an electricity distribution company in Tomsk. It downsized management, lowered purchasing costs and spending and brought the company to profitability: 219 million rubles in 2013 compared with a loss of 83 million rubles in 2012.
