June 30, 2008

Plan of Russian Electricity Market Liberalization Will Not Be Reviewed – Chubais

MOSCOW. June 30 (Interfax) - The plan of Russia's electricity market liberalization will not be reviewed, Unified Energy System of Russia (UES) CEO Anatoly Chubais told his final press conference.

"That's highly improbable. The plan may be reviewed only under extraordinary circumstances. I think that won't happen," he said.

The federal government approved the plan on April 7, 2007. According to the plan, the number of regulated electricity contracts reduces twice a year, on January 1 and on July 1.

There will be no regulated contracts at all by 2011, however, citizens will continue to buy electric power at prices established by the Federal Tariff Service.

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