Thursday, February 5

Electricity: After the Breakup

UES has completed one of the largest corporate restructurings in the world and has undertaken the most substantial power sector reform in Europe. The natural monopolies are controlled by the government and assets in the competitive segments are mainly privatized – an optimal setup. Simultaneously, the electricity market liberalization is continuing (30% from January 1, 2009), the capacity market was launched July 1 and the new RAB-regulation for distribution assets has been adopted. With that, what was promised has by and large been delivered. But are the recent sector developments and the current status what the shareholders – strategic investors, UES and the government – hoped for? Has the framework changed, or do the strategics see the same long-term value in the sector? What are the key prerequisites for future value appreciation?

Andrei Sharonov, Managing Director, Troika Dialog Group

Andrei Bougrov, Managing Director and Board of Directors Member, Interros Company
Alexander Chistyakov, First Deputy Chairman of the Management Board, Federal Grid Company, First Deputy General Director of MRSK Holding
Dominique Fache, General Director for Russia and CIS, Enel
Stanislav Neveynitsin, General Director, OGK-2
Dmitry Ponomarev, Chairman, JSC “ATS”, NP “Market Council”
Vyacheslav Sinyugin, Deputy Minister of Energy
Mikhail Slobodin, President, Integrated Energy Systems Holding
Sergey Tazin, Chief Executive Officer, E.ON Russia Power