On Friday, January 12, the General Director of OAO Mosenergo, A.Ya. Kopsov, held a working meeting with CEO of RAO UES of Russia, Anatoly Chubais. The General Director of OAO Mosenergo informed the CEO of RAO UES of Russia of the construction, production, and financial results of the Moscow generating company’s operations for 2006.

A.Ya. Kopsov reported on the commissioning of 146 MW of new capacity in 2006 at Hydroelectric Power Plant-1 (GES-1), GRES-3, TETS-8, TETs-9, and TETs-21, as well as on the progress of construction of four steam-gas power-generating units within the framework of implementing the first phase of OAO Mosenergo’s Program of Development and technical reequipment at TETs-21, TETs-26, and TETs-27.

In 2006, OAO Mosenergo completed construction of the main building of the third PGU-450 power-generating unit at TETs-27 and has proceeded to the installation of generating equipment. Installation of the steelwork at the main building of a new, eleventh power-generating unit is continuing at TETs-21. Sites have been prepared for the construction of steam-gas power-generating units ? 4 at TETs-27 and ? 8 at TETs-26. An international tender was held for equipment delivery and turnkey construction of the PGU-420 power-generating unit at TETs-26.

In order to finance the investment program for 2006, OAO Mosenergo attracted $250 million US in credit from the European Bank for Reconstruction and Development (EBRC). The total amount of financing for the Construction and Technical Reequipment Program in 2006 exceeded 15 billion rubles. Sources of financing included the company’s internal funds, depreciation charges, and credit resources.

A.Ya. Kopsov reported on OAO Mosenergo’s readiness to commission 556 MW of new capacity in 2007 through the startup of the third power-generating units at TETs-27 (PGU-450), modernization of the steam turbines at TETs-9 and TETs-22, and commissioning of an expander generating plant at TETs-23 and a gas turbine at TETs-28.

Investment of more than 30 billion rubles in the construction of new steam-gas power-generating units and modernization of existing power plants is planned in 2007.

The CEO of RAO UES of Russia characterized the operating results of OAO Mosenergo, the first Russian generating company to begin construction of new generating facilities, as positive.