Only a few steps remain to finalize the process, he said.
"The legislative basics have been created [with] five laws adopted," he said.
Wholesale generating companies will take shape by mid-2006 and territorial ones are expected to be set up by mid-2007.
He called the reform of the holding itself, whose shares will be "apportioned between the shareholders" the pinnacle of transformation.
"The fact of dividing the company will automatically lead to the entire power generation in Russia, except hydraulic generation, automatically going under the control of private shareholders," he said.
According to Chubais, private shareholders will own over 51 percent of the generating companies, sometimes over 75 percent of their property.
The unfolding of "a genuine, thoroughly structured market will boost its capitalization," he said, which he expects will happen in two years.
"Don't miss the train," he added.
