MOSCOW, October 28 (RIA Novosti) - The board of Russian electricity monopoly Unified Energy System (UES) has approved a program, to be completed by March 31, 2006, to prepare for the sale of Taymyrenergo, the company's press service said Friday.
The program will involve an assessment of the market value of Taymyrenergo shares, obtaining licenses to sell the shares, and the selection of an agent to organize an open auction.
Taymyrenergo, a UES 100% subsidiary, runs UES energy generating assets with restricted competition, in which energy reforms are being implemented according to different principals from those in other areas of Russia. This is due to the unique characteristics of the isolated Norilsk energy region: the absence of outlets into the country's power network and the presence of only one consumer, Norilsk Nickel, the press release said.
