Board of Directors Committees

The Board of Directors delegates specific authorities to 4 committees:

  • Audit Committee
  • HR and Remuneration Committee
  • Strategy Committee
  • The Investment Committee

Audit Committee

The responsibilities of the Audit Committee include:

  • Assessing candidates for auditors of the Company and developing recommendations to the Board of Directors through participating in the work of the Tender Committee in selecting an audit company for the implementation of the annual independent audit of the Company's financial statements in accordance with Russian legislation, assessing the qualifications, the quality of work, and compliance with requirements of independence;
  • Analysis of the Company's financial accounts and of the results of the external audit of the accounts to ensure compliance with the legislation of the Russian Federation, International Financial Reporting Standards, Russian Accounting Standards, and other regulations;
  • Analysis of the Company’s internal audit systems.

The activities of the Audit Committee are set and regulated by the regulations concerning the Audit Committee of PJSC Federal Grid Company of Unified Energy System.


Committee for HR and Remuneration

The responsibilities of the Committee for HR and remuneration include:

  • Developing principles and criteria concerning remuneration and incentives for the members of the Board of Directors, the Board, and the Revision Committee of the Company;
  • Formulation of recommendations on defining material terms of contracts with members of the Board of Directors, members of the Company’s Management Board and the person performing the duties of Chairman of the Management Board;
  • Defining criteria on the selection of candidates to the Company’s Board of Directors, to the Management Board and to the Chairman of the Management Board, as well as a preliminary evaluation of the candidates;
  • Regular evaluation of the activities of Chairman of the Board of the Company, exercising the functions of the sole executive body (managing the company), of the members of the Management Board and the preparation of proposals on the possibility of reappointments to the Board of Directors.

The activities of the Committee for HR and Remuneration are set and regulated by the regulations concerning the Committee for HR and Remuneration of the PJSC Federal Grid Company of Unified Energy System.


Strategy Committee

The responsibilities of the Strategy Committee include:

  • Activities and development programmes of the Unified Energy System of Russia, regarding the development of the Unified national (all-Russian) electrical network, including isolated energy systems;
  • Activities for the realisation of technological connection to electric networks;
  • Processes associated with ensuring the efficient functioning of the wholesale electricity market, the technological management of electric grids that are part of the Unified Energy System of Russia;
  • Control over the implementation of investment projects for the development of electric grids and the Unified Energy System of Russia;
  • Disclosure of information as a subject of natural monopolies in the electricity industry;
  • Other questions related to the development of the Unified Energy System.

The activities of the Strategy Committee are set and regulated by the regulations concerning the Strategy Committee of the PJSC Federal Grid Company of Unified Energy System.


Investment Committee

The responsibilities of the Investment Committee include:

  • Preliminary consideration and examination of new investment projects and programmes, submitted for consideration by the Board of Directors of FGC UES;
  • Development and presentation of recommendations to the Board of Directors of FGC UES on matters under its consideration, in accordance with the Committee's responsibilities.

The activities of the Investment Committee are set and regulated by the regulations concerning the Investment Committee of PJSC Federal Grid Company of Unified Energy System.