| Headline: Generating income from electricity Source: Euromoney Date: September 2001 Author: Ben Aris The reform of Russia’s electricity sector is going faster than that of other utilities. UES chief executive Anatoly Chubais talked to Ben Aris about the proposals and the timetable The official restructuring plan was adopted by the government on July 11, but it was vaguer than the version that you have been presenting. For example, the number of gencos (generating companies) was originally set at five to seven and in the official version the number is not specified. In the plan there is no exact number of companies, there is only the principle of how to create the gencos and this should be approved by the government, which is a fixed part of the governmental plan. We have our own ideas of how to design these companies, but at the same time we are quite open to discussion both with the government and with the shareholders. It is a point of reasonable compromise. What will be the form of these companies? In the company we see several legal ways of designing these gencos. My idea, which is not finalized yet, so there is no concrete scheme, is to design some kind of dialogue with the shareholders and government which will include the right legal way of designing these companies. |