FGC UES
OAO FGC UES (Russian: Федеральная сетевая компания Единой энергетической системы, romanized: Federalinaya Setevaya Companiya Edinoy Energeticheskoy Sistemy, lit. 'Federal Grid Company of Unified Energy System') is a state-owned energy company located in Moscow, Russia. It is the country's largest transmission grid company. The company is listed at the Moscow and London stock exchanges with 80.13% of shares owned by Rosseti.
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Native name | ОАО Федеральная сетевая компания Единой энергетической системы |
|---|---|
Romanized name | Federalinaya Setevaya Companiya Edinoy Energeticheskoy Sistemy |
| Type | Public (OAO) |
| MCX: FEES LSE: FEES | |
| ISIN | RU000A0JPNN9 |
| Industry | Energy |
| Predecessor | RAO UES |
| Founded | 2002 |
| Headquarters | Moscow , Russia |
Key people | Andrey Murov (Chairman) |
| Services | Electric power transmission |
| Revenue | $3.86 billion[1] (2019) |
| $1.59 billion[1] (2019) | |
| $1.34 billion[1] (2019) | |
| Total assets | $19.9 billion[1] (2019) |
| Total equity | $13.9 billion[1] (2019) |
| Owner | Rosseti (80.1%)[2] |
Number of employees | 22,000 (2018) |
| Parent | Rosseti |
| Website | www |
History
In 2001, the Government of Russia reformed the Unified Energy System of Russia to create a unified national energy network, which includes a system of trunk lines, uniting most regions. For its operation, the Federal Grid Company (FGC UES) was created. In a subsequent decision, the Government approved criteria to identify the main electricity transmission lines.
In November 2001, the Board of Directors of RAO UES defined the stages of creation of FGC UES. The company was established on 25 January 2002 as a subsidiary of RAO UES.[3] Charter capital of UES FGC was 127 billion roubles. It was paid in cash and by transmission grids owned by RAO UES. UES FGC was registered on 25 June 2002.
On 1 July 2008, FGC UES was divided off from RAO UES. At the same time, a single operating company was created by merging with 54 companies operating transmission systems of former regional power utilities.[4] It also took over the remaining assets of RAO UES.
In November 2012, the majority of the company (79.55%) was transferred to the state controlled holding company Rosseti.
Operations
FGC UES owns, operates and supervise 142,000 kilometres (88,000 mi) of the transmission grids in Russia. It also provides services to the wholesale electricity market in Russia. It owns 8.57% stake in the energy company Inter RAO.
Shareholders
According to regulations, the Russian Government should control at least 75% plus one share of the company. As of 31 December 2017, it controlled 80.13% through the holding company Rosseti and 0.59% through the holding company Rosimushchestvo, while 19.28% was owned by minority shareholders. These shares are freely traded at Moscow Exchange and London Stock Exchange.
Management
The chairman of the Board of Directors is Andrey Murov.
See also
References
- "IFRS Financial Reports for 2019" (PDF). FGC UES. 5 March 2020. p. 53. Retrieved 5 March 2020.
- "Список аффилированных лиц". e-disclosure.ru. Retrieved 26 August 2017.
- (Minutes 25 January 2002 № 109)
- "FGC merges grids into a company with capitalization of $2 bn". Kommersant. 15 February 2007. Retrieved 27 July 2008.
