National economy recession lead to major industrial consumers default in payment and resulted in controversy with selling companies concerning the amount of the rendered services.

IDGC of North-West net profit according to RAS (Russian Accounting Standards)  in January-March of 2009 accounted for RUR 366,437 million.

The comparison of the given index with the index for the first quarter of 2008 is incorrect as far as IDGC of North-West since April 1, 2008 acted as unified operation company.

During the company’s financial indices analysis concerning he results of the 1 quarter of 2009 it is necessary to take into account that the accrued revenue of the Company was not fully provided by the money means acquisition from the consumers – power selling companies of the North-West. National Economy recession  lead to major industrial consumers default in payment and resulted in controversy with selling companies concerning the amount of the rendered services.

The Company’s accrued profit in January-March of 2009 accounted fro RUR 6.735 billion.

According to RAS, IDGC of North-West acquired the net profit accounted for RUR 598 million which is 13.4 % higher than the amount determined by the business plan. According to 2008 results the Company’s profit accounted for RUR 15.954 billion, 91.5% of which accounted for power transmission income.