RAO UES

Inter RAO might purchase the additional issue of its affiliate for 20.48 bln roubles

​The Board of Inter RAO has approved the purchase of the additional issue of its affiliate – Inter RAO Capital – for up to 20.48 bln roubles.
“Approve the agreement on the purchase of shares of the additional issue of Inter RAO Capital as a deal or a few connected deals which lead to the obligations of Inter RAO PJSC at the volume equal or exceeding 5% of the balance value of assets of Inter RAO”, is reported. 242.595 mln shares are issued at 84.43 roubles/piece.
Inter RAO said that in June 2015 the company issued funds to Inter RAO Capital to settle its debt before “VTB Factoring” and “Mezhregionenergostroi” (controlled by Gazprom energy holding). Thus, issuing the additional issue, Inter RAO Capital will settle the debt before its head company by means of shares.
In June Inter RAO was reported to have paid to all its contractors by the deal on the purchase of the 2nd block of the Kaliningrad thermal power plant-2 closed in 2011. The participants of the deal confirmed that 13 bln roubles were transferred on the accounts of “VTB Factoring”, another 4 bln roubles – to Gazprom energy holding.

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Novatek hopes to save contract with Inter RAO UES

For the first time, Novatek has indirectly confirmed that Rosneft may refuse a part of gas supplies under contract with Inter RAO UES in 2016. Formally, since 2016 the oil company should provide a major Kostroma regional power station of Inter RAO UES, but Novatek expects to save the contract. According to analysts, the transfer of a part of the supplies to Novatek would be a logical adaptation to deteriorating attractiveness of the domestic gas market for Rosneft.
Novatek considers the possibility to continue the gas supplies to the Kostroma regional power station, owned by Inter RAO UES after the end of the current contract too, head of the gas company Leonid Michelson said on Friday. "We want to remain a supplier of gas to the Kostroma regional power station. We consider our participation in the gas supply to the region, and the lion's share of the consumption is the hydroelectric power station," - he explained. By the end of the year, Inter RAO UES really buys most of its gas from Novatek, but even in 2012, the company agreed that since 2016 Rosneft will be the supplier. Novatek decline to additionally comment.

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Inter RAO UES may sell Electric Grids of Armenia

Already at the end of October, Inter RAO UES may sell Electric Grids of Armenia. According to the Kommersant’s information, the offer on the purchase, which satisfied Inter RAO UES, was made by Marcuard Heritage, founders of which are closely linked to Russia. Its general director and co-owner Sinan Bodmer is in the Board of Directors of Fora Bank of the Samvel Karapetyan’s Tashir Group, other co-owner - Hans-Joerg Rudloff - was a member of the Rosneft’s Board of Directors for seven years. In June, the Kommersant’s interlocutors called Samvel Karapetyan the most likely buyer of Electric Grids of Armenia.
Yesterday the Dutch company Inter RAO Holding BV (a part of Inter RAO UES) informed the Government of Armenia about its plans to sell 100% of Electric Grids of Armenia’s shares to Cypriot company Liormand Holding ltd. The Government instructed the authorities to explore the Cypriot company and to develop a draft agreement, under which obligations, provided for in the contract for the sale of the Electric Grids of Armenia’s shares to Inter RAO UES in 2002, will pass to it. Armenian officials don’t explain who owns Liormand.

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“Far Eastern” tariff for all Russia

The Kommersant has got to known details of a plan of the Ministry for Development of Russian Far East to save energy industry of the Far East. Consumers of electricity on the wholesale market will have to pay RusHydro, controlling the power system in the region, more than 100 billion rubles per year for the modernization of facilities and the reduction of tariffs for potential investors. The mechanism, tested on the construction of new power plants in the Crimea and Kaliningrad, can result in a rise in the price of electricity for the industry by almost 5% in the rest of Russia.
The Ministry for Development of Russian Far East offers to subsidize electricity tariffs for all consumers in the Far East to the amount of more than 100 billion rubles each year, a letter of the Community of energy consumers to the relevant Deputy Prime Minister Arkady Dvorkovich. Most of this money is proposed to be spent for the construction and modernization. The subsidy may be laid down in a controlled extra charge to price of RusHydro’s capacity (controls RAO ES of the East) on the wholesale market. Such subsidies of consumer in the Far East will lead to the increase in final prices on the wholesale electricity market by 4.3-4.7%.

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Russia: Racing through the Japanese energy bridge.

"Inter RAO" and "RAO ES Vostoka" build export plans.
State Company "Inter RAO" and "RAO ES Vostoka" are trying to promote alternative Sakhalin - Japan export energy bridge construction. The project of "Inter RAO" is larger: the company wants to build up to 3 GW of new coal and gas generation. "RAO ES of the East", by contrast, intends to load its existing units and build no more than 1 GW of thermal power plants for export. But both projects look hypothetical: no project operators or investors are identified, large deliveries are possible only with laying power lines to the island of Honshu.

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In August of 2015, electricity consumption in Russia fell by 0.2% to 77.3 billion kWh

In August of 2015, the electricity consumption in Russia made up 77.3 billion kWh, which is byu 0.2% less than in August 2014, System Operator reports.
The August electricity consumption in the Unified Energy System of Russia also decreased by 0.2% to 75.3 billion kWh.

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Inter RAO UES increases its share in Mosenergosbyt to 95%

Inter RAO Capital has increased its stake in Mosenergosbyt from 75% to 91%, the company reports.
On August 25, Mosenergosbyt filed an application to delist the company's shares. After the procedure, which according to the rules of the exchange may take up to three months, trading in the shares will be halted.

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RusHydro and VEB to sign agreement on additional issue of the company for 85 billion rubles during Eastern Economic Forum

RusHydro and VTB will sign an agreement on additional issue of the company for 85 billion rubles at the Eastern Economic Forum, a source familiar with the situation reports.
"The agreement should be signed at the forum. Then everything will go almost automatically," - said the source.
Responding to a question, with what banks except VTB the agreements on the additional issue may be signed, he said that "for a while, only one bank".

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“RAO Energy System of East” may start power supply to North Korea later this year

RAO Energy System of East, part of “RusHydro”, can start the supply of electric power to North Korea later this year. As CEO of “RAO Energy System of the East” S.Tolstoguzov said to “Lenta.ru” the project has been worked out, its feasibility study is ready and there chosen the most appropriate options at present.

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Gazprom reduced gas extraction by 11.5% to 232.8 bln cubic m in Jan-July

​Gazprom’s gas extraction in Jan-July 2015 fell by 11.5% to 232.8 bln cubic m, the Ministry of Economic Development reports.
The production of natural gas and APG in general in Russia fell by 5.3% to 356.4 bln cubic m in Jan-July.
The reduction of gas extraction was accompanied by the fall of consumption by 2.4% to 257.5 bln cubic m. The consumption fall is explained by the reduction of gas supply for electric energy generation.
The data of the monitoring of the Ministry of Economic Development on the basis of data of the Ministry of Energy doesn’t coincide with the quarterly reports of Gazprom both by extraction and export.

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