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Rosseti Volga

September 19, 2016

Debt for electricity transmission services continued growing

In July 2016, the payment default of AO Chuvash Energy Sales Company to Chuvashenergo, a branch of IDGC of Volga, PJSC was improved following partial payment of arrears in excess of the current charges by guaranteeing supplier. However, in August - September 2016, the arrears resumed grow.

Thus, the undisputed overdue receivables as of September 01, 2016 grew in comparison to August and amounted to 683.4 million rubles, and as of the article date (with consideration to the August charge) the debt amounted to 948 5 million rubles.

The continued payment default by the guaranteeing supplier makes the timely payment by the IDGC of Volga, PJSC for services of related network organizations, contractors and other counterparties.

In general, violation of the payment discipline by AO Chuvash Energy Sales Company may become cause failure of the grid organizations of the Chuvash Republic to be prepared for forthcoming autumn-winter season, adversely affect the reliability of power supply and, consequently, the business image and investment climate in the Republic.

 

 

 

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