Tariff replacement

IDGC Holding will receive 150 billion rubles from Sberbank for modernization

As part of the Sochi Investment Forum, an agreement was signed between Sberbank and IDGC Holding to provide a loan of 150 billion rubles to network operators. for a period of 15 years. According to the document signed by Deputy Chairman of the Board of Sberbank Andrei Donskikh and Deputy General Director for Economics and Finance of the holding Alexey Demidov, the funds should be used for the renovation of the country's distribution network. In total, it is planned to spend 2.85 trillion rubles for these purposes over ten years. According to experts interviewed by Vremya Novostei, borrowed funds should allow IDGCs to provide the necessary level of investment during the reduction of RAB tariffs, which are the main source of income for grid companies.

Back in June, the head of the Ministry of Economic Development, Elvira Nabiullina, announced that there were plans to combat the inflationary effect of liberalization of the Russian energy market. For network operators, this was expressed in limiting the rate of return of capital to 10% (by 2013). At the same time, earlier, according to the head of the holding Nikolai Shvets, IDGC expected a tariff increase from 15 to 40% depending on the region. “This seriously limits the region’s decision-making on the approval of electricity transmission tariffs,” the holding’s general director commented on government decisions to Vremya Novostey at the time. Let us make a reservation that, according to the plan of the domestic energy reform, RAB tariffs were to become the main source of funds to finance the investment program of network companies. Thus, the modernization of the extensive energy grid system (the holding controls 2.1 million km of networks and more than 456 thousand substations) was in question. As IDGC said, 52% of network equipment has already served more than one standard period, of which about 10% have served more than two terms. It should be noted that as part of the renovation program, it is expected to reduce the overall wear and tear of equipment in the network segment from 70 to 50%, which will reduce losses during electricity transmission. Today, in terms of this indicator, Russia lags significantly behind civilized countries: the level of losses is almost 9%, while in Europe it does not exceed 4-5%. Compensation for losses through our own, including alternative, generation requires changes in legislation.

In this situation, bank loans can be a significant help for IDGCs. Thus, back in June, within the framework of the St. Petersburg International Economic Forum, IDGC and VEB signed a memorandum of cooperation. As the holding explained to Vremya Novostey, this agreement involves obtaining targeted loans totaling about 80 billion rubles.

According to the head of the Energy Development Fund, Sergei Pikin, the tariff reduction will only be of a medium-term nature. “The reduction in RAB is being undertaken under the slogan of fighting inflation in a crisis, but it is unlikely that anyone will engage in populism for more than two or three years. Subsequently, the tariff may be increased, and significantly, and the funds received from banks will make it possible to cover all investment needs,” the expert believes. At the same time, he noted that, in his opinion, the main problem of modernizing the domestic grid economy is not the lack of money that is willing to spend on it, but the quality of the work performed. “The renewal of funds is extremely slow. Work planned for months lasts for years. In such conditions, there is inevitably a risk of a repetition of the St. Petersburg accident, which could have been avoided with timely repairs,” the expert said.

IDGC Holding entered into an agreement with the republics of the North Caucasus Federal District on cooperation in the development of energy supply in the region. According to the head of the holding, Nikolai Shvets, the volume of investments in the network sector over five years will amount to about 30 billion rubles, with another 10 billion rubles. will be provided by the state budget. In addition, as the head of the Ministry of Energy Sergei Shmatko said during the signing of the agreement, the influx of additional funds into the district’s energy sector will ensure the transition to RAB regulation. Presidential Plenipotentiary Representative in the North Caucasus District Alexander Khloponin said that the authorities of the republics expect to maintain until 2015 the rule according to which 100% of electricity in the region is sold at a state-regulated tariff. For their part, representatives of the republican administrations promised to repay the debt to IDGCs by the end of the year.

Petr GELTISHCHEV