OAO RAO UES (OAO Unified Energy System of Russia; or ) was an electric power holding company in Russia. It controlled about 70% of Russia's installed electric capacity, 96% of its high-voltage grid and over 70% of its transmission lines. In addition to the Russian market, RAO UES exported electricity to Scandinavia and to other members of the CIS. The last head of RAO UES was Anatoly Chubais.

History

Unified Energy System of Russia was established by Presidential Decree #932, signed on August 15, 1992, as an electric energy holding company. Most of the state-owned electric energy assets, such as thermal and hydroelectric power plants, transmission lines, state-owned shares in power, research & engineering, and construction companies were transferred to RAO UES, with the exception of any assets related to nuclear energy. In total, RAO UES owned more than 70 of the energy companies and more than 40 of the power plants with federal-level importance. It also owned the transmission system operator, Federal Grid Company, (or, RAO FGC, the current successor of RAO UES and the operator of Russia's wide area transmission network) and the system operator of the Centralized Dispatching Administration (OAO SO-CDA). The first head of the company was Anatoly Dyakov, who held the positions of president and chairman of the director's council.

On May 30, 1997, shareholders abolished the position of president and appointed a chairman of the board, Boris Brevnov, who was a personal friend of First Deputy Prime Minister of the Russian Federation, Boris Nemtsov. Altogether, six wholesale generation companies (WGC), 14 territorial generation companies (TGC), RusHydro, FGC UES (Federal Grid Company), SO-CDA (System Operator), IDC Holding, RAO ES of the East, and Inter RAO UES continue to operate as independent entities.

The remaining RAO UES ceased to exist after its merger into UES FGC, a Federal Grid Company.

Shareholders

The Russian Federation owned directly, or indirectly, over 50% of the shares in RAO UES. The rest of the stock was owned by minority shareholders. Shares were also traded on the MICEX and RTS stock exchanges.

See also

  • Energy policy of Russia
  • Irkutskenergo
  • RusHydro

References

  • Unified Energy System - Russian language and English language