RAO UES outlines goals of reforms

The RAO UES goal in creating territorial power generating companies is to set up independent companies to operate on the electricity market and capital markets, RAO UES head Anatoly Chubais announced commenting on today's decision of the RAO UES board on such companies. Chubais recalled that RAO UES had initially planned to set up 35 territorial power generating companies and 10 wholesale power generating companies. Later, the number of territorial power generating companies was reduced to 20.

Chubais reported that this issue would be considered at a meeting of the RAO UES board on December 5, 2003. Before making the corresponding decision, RAO UES is going to hold negotiations with minority shareholders and other power generating companies.

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