Unified Energy System

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Unified Energy System

Type	Joint stock
Founded	~
Headquarters	Moscow
Key people	Anatoly Chubais, Chairman of the Management Board
Industry	Electric power generator
Products	Electric power
Revenue	~
Employees	~ 577,000
Website	http://www.rao-ees.ru/en/

The Unified Energy System (MICEX:EESR RTS:EESR) (OAO RAO UES of Russia; Russian: ЕЭС России or Russian: Единые Энергетические Системы) is an electric power holding company in Russia which generates about 70% of Russia's installed electric capacity, and owns 96% of the country's high-voltage grid, and over 70% of its transmission lines, according to the company's website. RAO UES also exports power, mainly to Scandinavia and to former countries of the CIS. The current head of UES is Anatoly Chubais.

UES holds more than 70 separate energy companies and more than 40 federal power plants, of which 8 are under construction. It owns 100% of two transmission companies, OAO Federal Grid Company and OAO SO-CDA (System Operator - Centralized Dispatching Administration).

The company itself is over 50% owned by the Russian state; the rest of the stock is owned by minority shareholders. Its stock is traded on the MICEX and RTS stock exchanges.

The major shareholders (as of December 31, 2004, [1]):

Federal Property Management Federal Agency on behalf of Russia (52.6831%)
National Depositary Center Non-Commercial partnership (nominal holder) (15.5953%)
ING EuroAsia Bank (nominal holder) (9.4645%)
The Depositary – Clearing company (nominal holder) (5.9929%)
Sberbank (5.3227%)

1 History
2 Current events
3 Management
4 See also
5 External links
6 References

[edit] History

Unified Energy System of Russia was established in 1992 pursuant to Decrees of the President of the Russian Federation №. 923 of August 15, 1992 and №. 1334 of November 5, 1992. The property of thermal and hydraulic power plants, trunk transmission lines with substations and other power facilities as well as blocks of shares in energy companies, research and engineering companies and construction entities of the industry were transferred to the authorized capital of the company. It also owns Hydroproject, Russia's venerable hydro dam design firm.

RAO UES of Russia was registered with the Moscow Registration Chamber on December 31, 1992, certificate No. 020.863. In 2002, in accordance with the requirements of laws, it was registered with the Moscow Division of the Ministry of Taxation of the Russian Federation on July 19, 2002.

[edit] Current events

RAO UES has manifested its increasing failure to keep up with demand^[1] owing to decade-long practice of disinvestment.

UES is currently in the process of a massive de-jure privatization push with the goal of attaining about 79 billion USD in investment, mostly from private sources.^[2]