RAO UES reports drop in production costs

Enterprises that constitute the Russian national energy giant RAO UES reported a drop in production costs last year, RAO UES head Anatoly Chubais announced at an Internet conference. Production costs went down for the first time in the company's history. This drop totaled 12.3bn rubles (about $392m at the current exchange rate). However, Chubais reported they would not be able to provide the same reduction in costs this year. According to forecasts of experts, production costs will fall from 7bn to 12bn rubles (from $223m to $382m) through 2003-2005.

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