Company Profile
2001 witnessed the restructuring of OAO RAO UES of Russia. The main goal of the reform was the complete reorganization and liberalization of power industry, attraction of the large-scale private investments and world markets breakthrough.
At present, Russian power industry sector is going through sweeping changes: new legal base and regulating system are being formed, the sector structure is changing, and the competitive power industry market is being created.
The main goals and objectives of Russian power industry reform are specified in the Concept of RAO UESR’s Strategy for 2005-2008 “5+5” which shows that the most important goal of the reform is the increase of he sector enterprises’ productivity, conditions creation for its development on the basis of the investments encouragement and reliable und uninterrupted power supply promotion.
On June 28, 2004 the General Meeting of Mosenergo, JSC shareholders took the decision on reorganization in the form of new companies’ creation including Moscow Region Power Grid Company, JSC. The Articles of Association were approved and the members of the governing bodies were elected. The shareholders got the equity stake of the Company according to the proportional shares of participation in the authorized capital of Mosenergo, JSC.
On April 1, 2005 the state registration of 13 new independent companies established as a result of Mosenergo, JSC reforming took place. Moscow Region Power Grid Company, JSC created on the basis of Moscow and the Moscow Region power grids branches was among them.
On June 26, the annual general meeting of OJSC “MOESK” shareholders took the decision to change the company name. As far as the company’s activity covers not only the whole Moscow Region, but also the capital itself, by the decision of shareholders the Moscow Region Power Grid Company, JSC was renamed into Open Joint-Stock Company “Moscow United Electric Grid Company” (the short name of the company is OJSC “MOESK”).
On January 1, 2008 the restructuring of OJSC “MOESK” management system was completed. Larger branches of the power grids in Moscow and the Moscow region were created on its basis. Service branches were transformed into the subsidiaries.
On June 30, 2008 OJSC “MOESK” was reorganized by means of merging to OJSC “MGEsK”. The unified operating company was formed on the basis of the power grids assets of Moscow and the Moscow Region as a result of the reorganization, which has a number of advantages:- increase of manageability of power grid facilities
- creation of the unified electric power balance on the territory of the region
- establishment of the unified responsibility center
- consolidation of the productive development programs
