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Gold/Mining/Energy : Mosenergo ADR

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To: Copperfield who started this subject2/24/2004 4:04:54 PM
From: Copperfield   of 241
 
The debt owed by municipal power suppliers in the Moscow region for electricity consumed in January 2004 reached 680 million rubles

18.02.2004

AO MOSENERGO requested the companies that supply power to Moscow regional municipal entities to pay 1,152 million rubles for electricity that was consumed in January. However, as of February 16, they paid only 472 million rubles which amounts to only 41% of the consumed power price.

The organizations that paid the least (7-12%) include MUP Odintsovskaya Elektrosyet, MUP Solnechnogorskoye PTO GKh, MUP Khimkinskaya Elektrosyet, MMPKh Elektrogorsk and MP Schelkovskiye Elektrosyeti. The payment discipline is better at MUP PTO GKh Ivanteevskoye, MUP ZhKKh Kashirskogo Rayona and MUP Shaturskoye PTO GKh, as in January they paid for 70-75% of consumed electricity. The only entity with no debts for January is MUP Kommunalnik, Khotkovo.

Non-payments by municipal power suppliers noticeably reduce the reliability of the power supply. The responsibility for possible negative consequences of non-payments rests with the management of these companies.

AO MOSENERGO points out that there is no debt problem regarding electricity and heat in Moscow. The Moscow government actively works to ensure prompt payments from municipal consumers for supplied power. In January 2004, the City, including such big consumers as Mosgoerteplo and Teploremontnaladka, fully met their obligations.
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