NEWS & EVENTS: Breaking News
01.07.2009 11:01
July 1. Federal Grid System (FSK) could more than halve its 3-year investment program unless its tariff hikes are lower than the minimum required 10-12% in 2010-2011, First Deputy CEO FSK Alexander Chistyakov said Tuesday. According to Chistyakov, the minimum acceptable tariff hike enables the company to break even, covering interest payments on loans and depreciation. According to our estimates, if FSK’s tariff indexation in 2010-2011 amounts to 10-11%, we will be able to cover interest payments and depreciation. With this amount, our investment program in 2010-2012 will drop from RUB 456 bn to RUB 211 bn, Chistyakov told journalists at the company’s AGM.
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