12/07/2010 FGC will spend 950 billion rubles by the year 2014 "Vedomosti" explored the details of FGC investment program until year 2014 to amount to RUR 950 billion. In the near two years the company investments shall grow by 35.3 billion rubles, also due to construction of power grid for Skolkovo Innovation Center – by 11.7 billion rubles. Source:  Vedomosti

11/30/2010 FGC UES and Siemens may sign a Moscow region plant construction agreement JSC FGC UES and the German Siemens may sign an agreement in the nearest future to construct a high-voltage electrical equipment plant in the Moscow region. Source:  RIA Novosti

11/29/2010 New Tariff – The Solution The investment vacuum experienced in the 1990s, when funding of power energy sector succeeded by leftover principle, caused significant depreciation of the equipment in the industry. In the 2000s the situation was generally returned to normal: Solve the problem of non-payment, execute reformation of the power energy sector, attract Russian and international private investors into the industry. However, the attracted funds were mainly used for construction of new generation facilities, whereas funding of power grid complex was still executed on account of the tariff based on "cost plus" principle, and did not promote fundamental change in the equipment deterioration trend or provide for growth adequate to the generation demand and the economy of the country as a whole. As a result the economic life of the existing equipment in the power energy industry is currently 50 % worn out. This situation dramatically increases the risk of technological emergency. At that even an insignificant failure of main power grid may threaten energy security of separate regions and the country as a whole. Source:  Vedomosti

11/19/2010 Power Grids Winterize The Federal Grid Company has prepared its facilities for all types of weather surprises Source:  "Interenergo"

11/10/2010 JSC FGC UES completed construction of cable power transmission line for power supply to the facilities of 2014 Winter Olympic Games JSC FGC UES branch – Backbone Electric Grids (MES) of South – completed construction of cable power transmission line 110 kV Poselkovaya – Rose Khutor (Krasnodar Territory). Works have been completed within the federal target program “Developing of the town of Sochi as a mountain-climatic resort (2006-2014). The new power transmission line shall provide for power supply to sports facilities which are constructed for the 2014 Winter Olympic Games. Power transmission line 110 kV Poselkovaya – Rose Khutor with the length of about 4.5 km crosses the territory of Sochi national park. Due to cable version the unique flora and wildlife sanctuary environment was entirely preserved. Both circuits of the power line are laid in special channels and run in one cut. This solution facilitated work and significantly reduced cost of construction. Source:  IA “Prime-TASS”

11/10/2010 Hyundai Heavy Industries is going to build a works in Russia JSC FGC UES chief executive Oleg Budargin and Hyundai Heavy Industries CEO Qhe Sik Min signed three agreements during the visit of the RF President Dmitry Medvedev to South Korea.  The first agreement was signed on scientific and technical cooperation. It provides for carrying out certain activities aimed at developing new technologies in electric grid complex and also at implementing innovative equipment and turnkey solutions while designing, constructing and operating power facilities. The second agreement was signed on cooperation in implementing intelligent grid in Siberia and the Far East. Hyundai Heavy Industries will participate in implementing a number of pilots. In particular the companies intend to design, develop and put into operation new equipment using Hyundai innovative solutions and technologies. Based on pilot implementation results they will consider the possibility of mass production and use of developed technologies. Source:  Kommersant

11/10/2010 JSC FGC UES expands scientific and technical cooperation with Hyundai Heavy Industries Within the framework of the official visit of the RF President Dmitry Medvedev to the Republic of Korea, the Chairman of JCS FGC UES Management Board Oleg Budargin and Hyundai Heavy Industries CEO Qhe Sik Min signed today an agreement on scientific and technical cooperation. The document was signed for the purpose of improving and enhancing efficiency, reliability and safety of electric grid infrastructure and aimed at developing Memorandum of understanding previously signed between JC FGC UES and Hyundai Heavy Industries. Source:  IA “Prime-TASS”

11/10/2010 Korean grids for FGC Korean Hyundai Heavy Industries, JSC FGC UES and the Administration of Primorsky Territory agreed on constructing switchgear works. JSC FGC UES is ready to become one of its major customers. Source:  Vedomosti

11/09/2010 Wok is started to construct substation 110 kV Izumrudnaya in Sochi MES of South started constructing substation 110 kV Izumrudnaya in Sochi region. The new substation having capacity of 80 MVA is planned for commissioning in 2012 and will peovide power supply to communication and engineering infrastructure aimed to service the 2014 Winter Olympic Games, the international airport in Sochi as well as integrated highway and railway road Adler – the mountain and climatic resort Alpica-Service. Investments in construction of the power facility will amount to RUR 320 mln. Source:  EnergoNews

11/03/2010 JSC FGC UES delegation visited the Olympic electric grid projects in Sochi region which are currently under construction On November 2 JSC FGC UES Delegation headed by the First Deputy Chairman of the Management Board Valery Chistyakov during its inspection tour visited power facilities of Sochi region which are constructed and renovated by JSC FGC UES. Facilities inspected included substation 220 kV Dagomys, substations 10 kV Laura and Rose Khutor, cable power transmission lines 110 kV Krasnopolyanskaya HPP – Poselkovaya, Krasnopolyanskaya HPP – Laura and also electric grid facilities 10 kV. During the trip the delegation reviewed meeting the construction schedules and providing for reliable operation of the power facilities aimed at providing for power supply for the 2014 Winter Olympic Games.   Source:  Electrical Technology Market

11/02/2010 In January-September JSC FGC UES tripled its net profit under RAS – up to RUR 18.8 bln. On Tuesday the company press-service published a statement saying that RAS net profit of JSC Federal Grid Company of UES (JSC FGC UES) that owns backbone electric grids increased in 3.03 times in January-September 2010 as compared with the similar period of 2009 and totaled RUR 18.8 bln. Source:  RIA Novosti

10/11/2010 Catched the last train French company Alstom is planning to make decision on the scheme for construction of a plant in Russia to manufacture power transformers. There are two options: either it will be constructed independently or with a Russian partner. The news was announced to journalists in Moscow by Mr. Patrick Kron, president of the company. “Either we find a partner and work together, or we shall work independently. The decision shall be made within the nearest months – until the end of year”, RIA Novosti quotes Mr. Kron. Source:  “Expert” magazine

10/08/2010 Federal Grid Company switched to RAB in 2010 and raised the tariff by 49% Power industry in Russia in 2010 shall be one of the most attractive industries, as experts from NP Market Council say. The main factors which determine finanical indices of power companies stay tariff decisions made by the state. Government-controlled FGC and IRGC turned out to be leaders in terms of income growth, whereas private heat generation, despite market liberalization, has reduced its indices because of increase in fuel prices. Source:  Kommersant

10/08/2010 Fuel and energy complex in the spotlight Analytics of Alfa-bank have renewed an estimation of FGC taking into account reduction of income rates for 2013-2014 years up to 10%. Thus, a rated price of FGC share reduced from 0.0158 to 0.015 USD, the recommendation stays as before – “above market”. Experts point out that despite setting of 10-percent income rate for new assets against expected 11%, the income rate for initial capital base RAB in 2013 and 2014 years appeared to be much above forecasts, compensating a negative effect of income rate reduction as per estimation of the company. This is why economists of Alfa-bank are still considering FGC shares attractive from the fundamental point of view, taking into account an intensive growth of the company (average annual growth rate 24% per EBITDA and 32% of pure income in 2010-2015) in combination with moderate regulation risk as compaers to IRGC. According to their opinion, clarity in relation to long-term parameters of five-year regulation period RAB can become a catalyst for shares. At the moment the company is trading at 30% discount as compared to equivalents from developing markets per index EV/EBITDA 2011П and discount 12% per multiplier EV/S201in. Source:  RBC daily

10/07/2010 Mr. Oleg Budargin, Chairman of the Management Board of JSC FGC UES Mr. has conducted a meeting on construction of objects for electric power supply for APEC summit in Vladivostok On October 7 Mr. Oleg Budargin, Chairman of the Management Board of FGC UES conducted a meeting in Vladivostok (Primorskiy Territory of Russia) regarding construction of electric grid objects for power supply ro APEC summit. Participants of the meeting visitd construction sites of substation 220 kV Russkaya and cable junction through the Bosphorus Eastern strait of the electric power transmission line 220 kV Zeleniy ugol – Russkaya, they have given a positive estimate to the process, as reported by IA INFOLine (www.ADVIS.ru). Source:  ADVIS.RU

10/06/2010 FGC UES has completed a joint project with company KEGOC from Kazakhstan related to modernization of interstate electric power transmission lines 500 kV JSC FGC UES has completed a first joint project with Kazakhstani Electric Grid Operation Company (KEGOC) in modernization of relay protection systems and emergency automatics at three inter-state lines 500 kV: Iriklinskaya power station – Zhitikara, Chelyabinskaya – Kostanayskaya and Kurgan – Aurora. Source:  IA “Prime-TASS”

10/01/2010 FGC UES and Tomsk area have signed a cooperation agreement JSC FGC UES and the administration of Tomsk region of Russia have signed an agreement on cooperation in development of Unified National electric grid in the territory of the region. Source:  IA “Prime-TASS”

09/29/2010 FGC EUS has performed the largest transaction in Russian market On September 28, 2010 JSC FGC UES has placed corporate bonds of series 06, 08 and 10 and the total amount of 30 billion roubles. This placement became the largest public transaction in the history of rouble corporate bonds market. Source:  Energyland.info

09/29/2010 Intelligence for the networks Russian Academy of Sciences and Federal Grid Company have signed an agreement on cooperation. The purpose of the document is to modernize Russian power industry, converting it into high-intellectual and reliable system. Source:  Rossiyskaya Gazeta

09/28/2010 JSC FGC UES shall construct objects for capacity output line at Boguchanskaya HPP in time The general director of an affiliate to JSC FGC UES – Backbone electric grids (MES) of Siberia – Samuil Zilberman has taken part in a meeting of emergency operations centre of Ministry of power industry of Russia in preparation of Boguchanskaya HPP for start-up, which was held on September 27 in Moscow. One of the main themes for discussion was construction process of objects to output capacity of the HPP in Krasnoyarskiy Territory of Russia. Source:  Rynok elektrotechniki (Electrical equipment market)

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