FGC UES

Federal Grid Company of Unified Energy System JSC
Native name
ОАО Федеральная сетевая компания Единой энергетической системы
Federalinaya Setevaya Companiya Edinoy Energeticheskoy Sistemy
Company typePublic (OAO)
MCX: FEES
LSE: FEES
ISINRU000A0JPNN9
IndustryEnergy
PredecessorRAO UES
Founded2002 (2002)
Headquarters
Moscow
,
Russia
Key people
Andrey Murov (CEO)
ServicesElectric power transmission
Revenue$3.86 billion[1] (2019)
$1.59 billion[1] (2019)
$1.34 billion[1] (2019)
Total assets$19.9 billion[1] (2019)
Total equity$13.9 billion[1] (2019)
OwnerRosseti (80.1%)[2]
Number of employees
22,000 (2018)
ParentRosseti
Websitewww.fsk-ees.ru

OAO FGC UES (Russian: Федеральная сетевая компания Единой энергетической системы, romanized: Federalinaya Setevaya Companiya Edinoy Energeticheskoy Sistemy, lit. 'Federal Grid Company of Unified Energy System') is a state-owned energy company located in Moscow, Russia. It is the country's largest transmission grid company. The company is listed at the Moscow and London stock exchanges with 80.13% of shares owned by Rosseti.

History

In 2001, the Government of Russia reformed the Unified Energy System of Russia to create a unified national energy network, which includes a system of trunk lines, uniting most regions. For its operation, the Federal Grid Company (FGC UES) was created.

In November 2001, the Board of Directors of RAO UES defined the stages of creation of FGC UES. The company was established on 25 January 2002 as a subsidiary of RAO UES.[3] The charter capital of UES FGC was 127 billion roubles. It was paid in cash and by transmission grids owned by RAO UES. UES FGC was registered on 25 June 2002.

On 1 July 2008, FGC UES was divided off from RAO UES. At the same time, a single operating company was created by merging with 54 companies operating transmission systems of former regional power utilities.[4] In November 2012, the majority of the company (79.55%) was transferred to the state-controlled holding company Rosseti.

Operations

FGC UES owns, operates and supervises 142,000 kilometres (88,000 mi) of the transmission grids in Russia. It also provides services to the wholesale electricity market in Russia. It owns an 8.57% stake in the energy company Inter RAO.

Shareholders

According to regulations, the Russian Government should control at least 75% plus one share of the company. As of 31 December 2017, it controlled 80.13% through the holding company Rosseti and 0.59% through the holding company Rosimushchestvo, while 19.28% was owned by minority shareholders. These shares are freely traded at Moscow Exchange and London Stock Exchange.

See also

References

  1. ^ a b c d e "IFRS Financial Reports for 2019" (PDF). FGC UES. 5 March 2020. p. 53. Retrieved 5 March 2020.
  2. ^ "Список аффилированных лиц". e-disclosure.ru. Retrieved 26 August 2017.
  3. ^ (Minutes 25 January 2002 No. 109)
  4. ^ "FGC merges grids into a company with capitalization of $2 bn". Kommersant. 15 February 2007. Archived from the original on 21 October 2023. Retrieved 27 July 2008.