OREANDA-NEWS. With effect from 1 February 2007, OAO "Far Eastern Energy Management Company" (FEEMC) ceases to perform the functions of the chief executive officer at OAO "Dalenergo", ZAO "LuTEK", OAO "Sakhalinenergo", OAO "Kamchatskenergo", and OAO "Geotherm".

This is provided by the restructuring plan for the Russian Far East energy system which covers OAO "Amurenergo", OAO "Khabarovskenergo", OAO "Dalenergo", OAO "LuTEK", and OAO "Yuzhnoe Yakutskenergo" (established on the basis of the Southern energy area of OAO "Yakutskenergo"), operating in parallel as parts of the East IES.

The companies' generating and distribution grid assets were consolidated into OAO "Far East Generation Company" ("FEGC") and OAO "Far East Distribution Company" ("FEDC"), respectively, which started operations on 1 January 2007.

Also, the restructuring plan provides for the creation of OAO "Far East Energy Company" (FEEC), the holding company which will own 100% shares in FEGC and FEDC. OAO "FEEC" is scheduled to be established and start operations on 1 February 2007.