25 Oct 2010 13:02

French ERDF may take over management of Tomsk ERC

MOSCOW. Oct 25 (Interfax) -French ERDF, a subsidiary of EDF, is in talks to participate in management of the Tomsk electricity retail company currently managed by IDGC of Siberia , the head of IDGC Holding, Nikolai Shvets, told journalists on Monday.

IDGC Holding plans to conclude a trust management agreement with ERDF.

Shvets said ERDF would only participate in managing the ERC and that no privatization was being discussed.

IDGC Holding has requested that the Energy Ministry maintain its moratorium on reducing the state stake in the distribution grid companies until 2015.

IDGC Holding is currently preparing a long-term strategy for development of Russia's distribution grid complex to 2030.

The UES Russia reorganization envisioned the arrival of private investors, including foreign investors, in the complex beginning in 2011. Nonetheless, Shvets said in 2009 that the distribution grid companies might be moved onto consolidated shares. Other options have also been discussed.

One involves merging the companies into a single interregional distribution grid company to solve the problem of too few resources at the holding, which does not itself conduct commercial operations. Another option is bringing in outside companies to manage the grid operators.

IDGC Holding includes the majority of distribution grid operators in Russia, including 11 interregional distribution grid companies.

ERDF owns 95% of France's medium- and low-voltage distribution grids.