Power industry reform in the region
On September 3, 2004 the Board of Directors of RAO UES of Russia approved the reforming project of Samaraenergo, one of the companies managed by Mid-Volga Interregional Managing Power Company.
On October 20, 2004 at the meeting of the Board of Directors of Samaraenergo the priority activity of the company was determined as power selling activity. Thus the Company’s reforming process in 2004 came into the active phase.
According to the reforming project Samaraenergo together with Saratovenergo and Ulianovskenergo became a charter member of interregional production companies Volga Thermal Generation Company and Volga Interregional Distributing Company.
The first stage of Samaraenergo’s reforming included corporative procedures on interregional companies establishing and it was finished with their charter capitals payment. Electric generation and heat network resources were tendered to the charter capital of Volga TGC, and electric distributing resources to the charter capital of Volga IDC. Since 2006 the interregional companies started operational activity, accepted the functions of AO-energy in generation and distribution of electric and thermal power.
On September 30, 2005 at the second stage of reforming the extraordinary general meeting of shareholders of Samaraenergo made a decision about reorganization by separation of Samara TGC with transfer of the shares of Volga TGC to its balance and Samara Main Line Company with transfer of the property of main line networks of Samaraenergo to its balance.
The meeting of shareholders also made a decision about the order of Samaraenergo shares converting to the shares of the separated companies, approved the separating balance. After the separation energy selling resources remained at the balance of Samaraenergo and since April 1, 2006 the main type of activity of Samaraenergo is electric power selling.
Imitational trading held by the Trading System Administrator showed that Samaraenergo is ready to trade in the new conditions of electric power wholesale market.
In August we sign a treaty with 21 Counterparties. The basic among them are Volga TGC and Rosenergoatom.
Since the new rules of operation come to the electric power market the status of Samaraenergo has changed. Now Samaraenergo is a warranted supplier of Samara Region. It means that the Company have to sign a contract with every customer who wants to sign a contract with Samaraenergo. Other power selling companies don’t have to do that. The Company will keep the status till January 1, 2008. The competition for the right of taking the warranted supplier status is going to be held every 3 years.
