FGC UES

FGC UES is a key element in the infrastructure of the Russian energy market. In accordance with applicable laws, FGC is a natural monopoly as well. The company’s business is regulated by the government.

FGC owns 120,000 km of transmission lines and 796 substations with total transformation capacity of more than 310 thousand MVA and voltage in the range of 110-1,150 kV, as well as 19 separate open switchgears and cells with total capacity of more that 139,000 MVA.

The company’s grid facilities are located in 73 Russian regions covering a total of 13.6 mln km2 and a population of about 140 mln.

As of end 2007, the company provided the actual balancing electric energy supply from the grids of the Unified National (All-Russia) Electric Grid (UNEG) totaling 464 TWh, which exceeded the previous year by 7%. The company’s revenues came to R61.4 bln, and its RAS net income was R2.3 bln.

As of July 1, 2008, there were 1,153,514,196,362 ordinary registered uncertified FGC shares, of which the state – represented by the Federal Property Management Agency – owns 77.66%, and 22.34% is owned by minority shareholders.

As of May 31, 2008, FGC had a BBB rating (on the international scale) from S&P and a Baa2 (international scale) rating from Moody’s.