Government to merge Federal Grid Company into IDGC

According to the Russian business daily Kommersant (6 November 2012), the government has decided on a new format for the consolidation of state power grid companies, with the Interregional Distribution Grid Company (IDGC) becoming the parent. IDGC Holding brings together interregional and regional distribution companies, R&D institutes, design and construction institutes and construction/sales companies and operates in 69 constituent entities of the Russian Federation.
The Federal Grid Company UES (the dominant state-controlled electricity transmission company grid) will be incorporated in IDGC through the contribution of the 79.55 per cent shares of the company held by the Federal Property Management Committee to the charter capital of IDGC Holding.

As  a result of the transaction, the state will ramp up its control of IDGC to over 85 per cent of the voting shares. Subsequently the state will establish a management company, retaining the operating and legal independence of IDGC and FGC.

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