FGC UES

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Federal Grid Company of Unified Energy System JSC
Native name ОАО Федеральная сетевая компания Единой энергетической системы
Romanized name OAO Federalinaya Setevaya Companiya Edinoy Energeticheskoy Sistemy
Type Public (OAO)
Traded as MCXFEES
Industry Energy
Predecessors RAO UES
Founded 2002 (2002)
Headquarters Moscow, Russia
Key people Oleg Budargin (Chairman)
Services Electric power transmission
Revenue Increase US$4 billion (2010)
Net income Increase US$9.9 million (2010)
Owners Russian government (>75%)
Employees 21,019
Website www.fsk-ees.ru

FGC UES (Federal Grid Company of Unified Energy System) is the largest electricity transmission company grid in Russia.

History[edit]

Government Decree of 11 July 2001 № 526 "On Restructuring the Electric Power Russia" Unified Energy System of Russia was recognized as "national property and guarantee energy security of the state. The main part of the EEC "is a unified national energy network, which includes a system of trunk lines, uniting the majority of regions of the country, and representing one of the elements guarantees the integrity of the state." For its "preservation and strengthening of the unity of technological management and implementation of public policies in the electricity industry" was provided for the establishment of the Federal Grid Company (FGC). In a subsequent decision of the Government of Russia of 21 December 2001, the number 881 were approved criteria to identify the main lines of electric power and economy to the Unified National (All-Russia) electrical network (ENES).

To implement the Government's power sector reform in terms of grid complex, relating to the ENES, in November 2001 the Board of Directors of RAO UES of Russia "defined the stages of creation" of the Federal Grid Company and the basic norms of governance FGC."

25 January 2002 Board of Directors of RAO UES of Russia "decided on the establishment of OAO" Federal Grid Company of Unified Energy System "(OAO" FGC UES "). Decisions of the Board of Directors had approved participation of RAO UES of Russia as the sole founder of OAO "UES FGC" and approved by the Chair of the Board of OJSC "FGC UES",[1] approved by the size and value of the assets of RAO UES of Russia "transferred to the authorized capital of OAO" FGC UES ",[2] approved a deal to introduce the property to the authorized capital of OAO" FGC UES ".[3]

Decision of the Board of Directors of RAO UES of Russia "charter capital of OAO" UES FGC "was set at 127 billion rubles. In its payment of RAO UES of Russia "were made money, as well as grid complex, owned by RAO UES of Russia".

25 June 2002 held an official state registration of new companies - OJSC Federal Grid Company of Unified Energy System "(OAO" FGC UES "). OAO "FGC UES" was created as an organization to manage a unified national (All-Russia) electrical network with a view to its preservation and development. The main activities of JSC "FGC UES", embodied in the charter of a company are:

  • management of a unified national (All-Russia) electrical network;
  • provision of services to the wholesale electricity market of the electricity
  • transmission and adherence to the electrical network;
  • investment activities in the development of a unified national (All-Russia) electrical network;
  • upkeep of electrical networks;
  • technical supervision of the state of the network objects UES of Russia.

On 1 July 2008, FGC UES was spun off from RAO UES. At the same time, a single operating company was created by merging with 54 companies operating transmission systems of former regional power utilities.[4] It took also over remain assets of RAO UES.

Shareholders[edit]

According to the law, the Russian Government should have at least 75% plus one share of the company's shares. As of 1 July 2007, the Russian Government owned 77.66% of company shares, while 22.34% was owned by minority shareholders. These shares are freely traded at Moscow Exchange

Management[edit]

The chairman of the Board of Directors is Boris Ayuyev. Also Industry and Energy Minister Viktor Khristenko is a member of the board. The chairman of the Managing Board is Andrey Rappoport. Guns N' Roses reportedly earned $1 million in 2010 to play a private show in Moscow for Alexander Chistyakov, deputy chairman of the management board of the company.[5]

See also[edit]

References[edit]

  1. ^ (Minutes 25 January 2002 № 109)
  2. ^ (Minutes of 15 March 2002 № 112)
  3. ^ (Minutes of 7 May 2002 № 115)
  4. ^ "FGC merges grids into a company with capitalization of $2 bn". Kommersant. 2007-02-15. Retrieved 2008-07-27. [dead link]
  5. ^ "The shocking amounts of money performers make on private performances", 28 February 2011, iDetroit Online, Retrieved 14 May 2011

External links[edit]