MOSCOW, June 30 (RIA Novosti) - Russia's...
The changes are aimed at attracting investment in the country's power sector and establishing a competitive electricity market.
Unified Energy System (UES) of Russia shareholders voted in late October to reorganize the electricity holding to end its monopoly status. Russia's competitive power market should be liberalized completely by 2011.
Six offshore wholesale generating companies and 14 regional power generators have already been spun off from the monopoly. In addition, all hydro power generators have been integrated into HydroOGK, which was renamed RusHydro earlier this month.
Independent power distributors have also been set up, with grid assets consolidated into a number of holdings. The largest holding, Federal Grid Company, will run Russia's national power network, which includes over 154,000 km (95,000 miles) of power transmission lines.
Although the government will no longer control shares in the authorized capitals of wholesale
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