OREANDA-NEWS. RAO "UES of Russia" has released the consolidated interim financial statements of RAO UES Group (the "Group") for the first half of 2006 prepared in accordance with the International Financial Reporting Standards (IFRS).

The Group's total assets increased over the first six months ended 30 June September 2006 by RUB32.3 billion to RUB1,246.6 billion.

Of that amount, the Group's capital assets amounted to RUB1,003.0 billion, up RUB12.1 billion, while its current assets reached RUB241.9 billion, which represents an increase of RUB18.6 billion from the beginning of the year.

As at 30 December 2006, the property, plant and equipment of RAO UES Group stood at RUB947.5 billion, an increase of RUB9.5 billion from RUB938.1 billion on 31 December 2005.

The rise in the book value of PP&E was due to the increased capital expenditures in the construction of new and modernization of the existing grid and generating capacity. During the reporting period, the highest capital expenditure was in OAO "UES FGC" (RUB8.5 billion), OAO "Mosenergo" (RUB2 billion), and OAO "Moscow Region Electricity Grid Company" (RUB2 billion).