Putin Signs Amendments on Completion of Ues Reforms

MOSCOW. Nov 6 (Interfax) – Russian President Vladimir Putin has signed legislative amendments concerning the completion of electricity reforms in the country, in particular the reorganization of Unified Energy System of Russia (UES) (RTS: EESR).

“The need to make amendments to federal laws was the result of the peculiarities of the final stage of structural reforms in the Russian electricity industry,” the presidential press service said.

UES CEO Anatoly Chubais said earlier that these amendments would finalize the reforms in the electricity industry and set a date for their completion on July 1, 2008, after which UES will cease to exist. They also envision the gradual liberalization of the wholesale electricity market and changes in the state’s regulation of the industry.

The law was passed by the State Duma on October 18 and approved by the Federation Council on October 26.

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