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    Rosseti not party to discussions on spinning off grids from RusHydro - CEO

    September 14, 2023 - Interfax Russia & CIS Energy Newswire


      VLADIVOSTOK. Sept 13 (Interfax) - PJSC Rosseti (MOEX: FEES) is not a party to the discussions on the matter of spinning off grids from PJSC RusHydro (MOEX: HYDR), Andrei Ryumin, general director of the power grid holding, told reporters on the sidelines of the Eastern Economic Forum 2023.

      "The government takes the decision as a shareholder. The shareholder decides how to dispose of the assets. We have not taken any initiative. We are currently not a party to the discussions, and we are not in negotiations," Ryumin said.

      RusHydro owns a number of power grid assets in Russia's Far East, which is currently included in the non-price zone of the energy market. Meantime, the law on the electric-power industry prohibits overlapping the functions of generation and transmission.

      RusHydro said in the spring of 2023 that the decision on the outcome of these assets would rest on the authorities, though the company would prefer not to "donate" any assets.

      During his speech at the Eastern Economic Forum 2023, Russian Energy Minister Nikolai Shulginov noted that RusHydro would be granted a period for transitioning.

      "The owner will determine the timeframe for being able to complete this [the transition]," Shulginov noted.

      Cr of

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