OREANDA-NEWS. May 27, 2008. It will be held on 24 June 2008 and will consider traditional issues: approval of annual report and accounting reporting of JSC "Tatenergo " for 2007; profit distribution of the Company and dividend payments; selection of members of Board of Directors and Audit Commission. Current Board of Directors gave recommendations on the issues, offering for the role of auditor the "FPK "Povolzhie, Ltd", winner in the tender.

Board of Directors at its regular meeting approved execution of budget of JSC "Tatenergo " in 2007 and first quarter of 2008, considered the results of financial and business activity fro the same time period and pre-approved the annual reporting of the Holding, emphasizing the big growth of subscriber indebtedness from population and housing companies. As it was said at the meeting, to date the debts by these consumer groups in Kazan only reached already 240 m. rubles.

Board of Directors also approved implementation of Cost Management Program (CMP) of JSC "Tatenergo " in 2007 and CMP for 2008. This year it was supplemented by one – thirteenth clause: "reduction of costs of repairs and maintenance", which would reduce the costs by the Network Company of the Holding. In total in 2008 is planned on base of implementing the program to reach the economical effect in amount of 157. 6 m. rubles, 56 per cent of which have to fall on reduction of costs of fuel by optimization of operational regime of facilities and utilization of efficient technologies. In 2007 the realization of CMP gave savings to the power holding in amount of 466.5 m. rubles.