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Gold/Mining/Energy : Mosenergo ADR

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To: Copperfield who started this subject	12/11/2002 7:25:10 AM
From: Copperfield	of 241

AO MOSENERGO and Moscow Regional Energy Commission agreed to conduct joint energy audit of power facilities AO MOSENERGO and Moscow Regional REC will audit power facilities in accordance with a pre-set program. The audit company will be selected by joint decision. Such an approach will allow each organization to objectively assess the power generation in the Moscow region and optimize electricity tariffs. The audit of power facilities is required by the Law on Power Saving, to evaluate the use of fuel and energy resources by the company, compare losses and operations efficiency to existing technical requirements. AO MOSENERGO and REC will evaluate the loss reduction potential at power stations and grid facilities in the Moscow region. Based on the collected data they will prepare organizational and technical recommendations and later work up investment plans and development programs. The main goal of this agreement is to enhance the rational use of fuel and energy resources at power facilities, lower electricity and heating costs and increase the stability of the system.

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