Translated material
Gazprom is not a partner
Electricity investors have created an “expert lobbying structure”
Buyers of large power generating companies yesterday announced the creation of a non-profit partnership, the Council of Energy Producers and Strategic Investors in the Electric Power Industry. Its founders included Eurosibenergo, which owns and manages the energy assets of Oleg Deripaska, IES Holding of Viktor Vekselberg and his partners, OGK-3 (owned by Norilsk Nickel), OGK-5 (owned by the Italian Enel), SUEK and TGK -8 (controlled by LUKOIL). The head of the IES, Mikhail Slobodin, was elected Chairman of the Supervisory Board of the non-profit partnership, and the General Director of Enel's Russia and CIS division, Dominique Fache, was elected as his deputy.As a source in this partnership told Vremya Novostey, the Finnish concern Fortum, which bought TGK-10 and is a major shareholder of TGK-1, and the structure of the former top manager of RAO UES of Russia Mikhail Abyzov, an entrepreneur, have already submitted applications to join. is believed to already own Novosibirskenergo and, apparently, will become the buyer of 28.9% of the shares of TGK-11, which RAO is selling these days. It is noteworthy that among the founders of the council there is neither Gazprom, which owns OGK-2, OGK-6, TGK-1 and Mosenergo, nor HydroOGK, nor Rosenergoatom.
The official statement of the council members states thatthe creation of a non-profit partnership “is due to a change in the system of state regulation of the industry, the completion of the process of forming a free competitive market, as well as strengthening state control in natural monopolies.” The main goals of the association are “reducing risks for investors in the Russian electric power industry and increasing the efficiency of the enterprises that are members of the partnership.” The current strategic objectives of the partnership are “active participation in improving energy legislation and the system for regulating tariffs for electricity and heat, as well as creating an analytical base for forecasting energy consumption in the Russian Federation.”
The representative of Mezhregiongaz, which oversees Gazprom’s electricity issues, Maria Frolova told Vremya Novostey that the concern does not intend to rush to join the council: “We first want to understand the goals that this association faces, and the ways to implement them, and Then we’ll decide whether we need to be among the founders.”
However, a source in the council told Vremya Novostei that, firstly, the composition of the partnership is not closed and anyone can join it. And secondly, at first it would be correct to unite only private investors in the Russian electric power industry, i.e. do without companies with state participation. Otherwise, a conflict of interest may arise on some issues - “this will be an expert-lobbying structure,” he says.
At the same time, the source indicated that the council will not fight with Gazprom for gas supplies: “Everyone understands that within the framework of the association this is pointless. Everything will be the same as before: everyone will negotiate with Gazprom one on one.” And it is for this reason, he believes, that if the gas monopolist wishes, he will be accepted into the council.
At RAO UES of Russia, Vremya Novostey yesterday assessed the creation of a partnership of electricity producers as further evidence that relations in the industry are becoming market-based and do not require government intervention .
By the way, a similar, but only informal partnership existed in 2000-2002 among the largest oil companies. It was the coordinator in the field of lobbying the interests of oil workers in government structures and primarily resolved information and communication issues. However, in 2003, with the beginning of the “YUKOS case,” it ceased to exist. It cannot be ruled out that as soon as the period of market redistribution passes in the electric power industry, the council created yesterday will turn out to be unnecessary. True, much depends on how quickly truly market relations appear in the electric power industry.