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#18 - JRL 2008-232 - JRL Home
State will support both state, private power companies - Sechin

BLAGOVESHCHENSK. Dec 22 (Interfax) - The state plans to support both private and state-owned power companies, Deputy Prime Minister Igor Sechin told journalists.

"We are quite balanced in our attitude to those (power) companies that are owned by the state and those that belong to private shareholders. They will have equal access to state resources," Sechin said, adding that the government will monitor the situation.

A mechanism for providing state guarantees to the companies is currently being drawn up, as are plans for providing loans backed by obligations and plans for replenishing working capital, he said.

"We know all the companies. We are in contact with all the enterprises," he said. State resources will be provided to the companies in the amount they are needed, he said. "The need must be justified, and funds will be distributed in accordance with the justification," Sechin said.

The agreements the companies have concluded on providing capacity might also be revised, he said. In general, all requirements under the contracts will be fulfilled. However, "those agreement that were signed were prepared in a limited timeframe and in a host of cases they demand revision."

"But the overall parameters must be fulfilled," he said.

Moreover, the general scheme for locating electricity facilities might also be revised next year, Sechin said.