RAO UES head on role of state in regulating energy industry

An increase of the state's role in the regulation of the electrical energy industry is a positive point, CEO of RAO UES Anatoly Chubais said at parliamentary hearings at the Russian Federation Council devoted to reforming the industry. He pointed out that bills on reforming the electrical energy industry, prepared for the second reading at the State Duma, did not contain final terms of increasing the state share in the authorized capital of the federal network company and the system operator from 51 percent to 75-100 percent. "This will eliminate the possibility of profiteering while increasing the state share", Chubais believes.

"On the whole, the amount of common sense has been preserved while passing bills on reforming the electrical energy industry form the first to the second reading", he stressed. The CEO of RAO UES also emphasized that the actual reforming of the electrical energy industry in Russia was underway. A system operator and a federal network company have been created; the administrator of the trade system is completing trade simulation. At the same time, he expressed concern about the further passing of the bills at the State Duma. "It is good if legislators keep pace with life; there is a threat that they are behind it", Chubais concluded.

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