RAO UES will cease to exist July 1, 2008

PanARMENIAN.Net - "RAO UES of Russia will cease existence from July 1, 2008," Russian State Duma chairman Boris Gryzlov said September 6. A draft bill "On introduction of changes into the RF legislative acts over reorganization of Russia's united energy system" will be discussed September 7, Mr Gryzlov said.



"Energy should not hamper economy development. The President set a task to double the GDP in ten years, so the energy sector should secure the development rate to enable economy growth. The federal budget of FY 2008 includes 30 billion rubles to be spent on energy facilities. The budget for FYs 2008-2010 provides 60 billion rubles for the purpose," he said.



"The draft bill sets the terms of reformation of the energy sector. It means that the government should consider and pass decrees on the map of energy facilities and their development," Mr Gryzlov said, IA Regnum reports.



RAO UES of Russia owns 4 out of 5 power-units of the Hrazdan heat power plant, which provides Armenia, Georgia and Iran with electricity. The Hrazdan heat power plant (the major consumer of Russian gas) was conveyed to Russia to pay off Armenia's state debt totaling $93 million.



Besides, the RAO UES runs the Armenian Nuclear Power Plant.