RusHydro launches its power sales strategy
On 5 March, the New Energy Fund acquired, on behalf of JSC RusHydro, 49% of the shares in JSC Ryazan Power Sales Company and 100% of the shares in JSC Chuvashskaya Power Sales Company.
On 19 February, the Board of Directors of JSC RusHydro approved the list of potentially interesting to purchase power sales companies, including JSC Ryazanskaya Power Sales Company and JSC Chuvashskaya Power Sales Company. The criteria for selecting the power sales companies were the payment collectability rate, economic justification of the indicative purchase price from the Electric Power Wholesale Market, operation on the territory of power sale or grid companies awarded guaranteeing supplier status, the turnover period of accounts receivable and the level of excess losses in the region's distribution grids.
The possibility of purchasing sales assets is envisaged by the JSC RusHydro development strategy. Acquisition of such assets will increase the company’s returns through organisation of a vertically integrated holding, provide guaranteed consumers for the electric power produced by the Holding’s electric power plants and allow the company to enter the retail market.