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

The accounts receivable increased by RUB13,689 million during the period under review to RUB146,022 million as at 30 September 2006.

The accounts payable in the first nine months of 2006 totalled RUB96,828 million, which represents an increase of RUB10,496 million from the beginning of the year.

The movements in the accounts receivable and payable during the period under review were largely influenced by seasonality factors. In particular, the accounts payable were influenced by the increase in the advances to suppliers and contractors, and tax prepayments.

The increase in the accounts payable was largely due to the seasonal growth in debts owed to suppliers and contractors, as well as fuel price growth.