OREANDA-NEWS  On 01 November was announced, that a meeting of JSC Irkutskenergo Board of Directors took place in Moscow on October 24; it focused on the issues of the Company's activity, in particular:

• Preparation of JSC Irkutskenergo for autumn and winter of 2008-2009. Under the plan of preparation for the 2008-2009 autumn and winter the company performed planned repairs of the main and secondary equipment at thermal and hydroelectric power stations and thermal and electric networks. The workers performed major repairs of fourteen boilers, twelve turbines and replaced 39.5 km of thermal networks. The company saved around 3.4m tons of coal at coal warehouses of thermal power stations, that is by 1.2m tons more than in the previous year (normative deposit approved for the Company by the Ministry of Energy Industry of the Russian Federation is 1.8m tons).

• Report of General Director and the Management Board of Irkutsk Joint Stock Company of Energetics and Electrification (JSC Irkutskenergo) on the Company's financial and economic activity in the first quarter, 2008. In the first quarter, 2008, JSC Irkutskenergo proceeds from sale of energy, work and services were RUR 2.141bn. Net income of JSC Irkutskenergo was RUR 1.089 bn. Proceeds of JSC Irkutskenergo from sale of products was RUR 15.017bn in the first quarter, 2008, and the prime cost of the goods was RUR 12.875bn.

• Theory of JSC Irkutskenergo 2008-2020 Energy Saving Programme was approved. During the last three years JSC Irkutskenergo has been occupied with energy saving through performance of programmes on increase in the production efficiency and costs management programme. The core directions in Irkutskenergo programme are increase of efficiency of coppers, decrease in losses of steam and condensate and consumption of thermal and electric energy for industrial and own needs. Performance of the given programmes has already generated income of over RUR 1.5bn, 45.87% of which is generated by performance of energy saving programmes. The given theory presupposes the end of the started actions and performance of new actions that contribute to the increase of production efficiency. The company plans to present the 2008 -2020 Energy Saving Programme to JSC Irkutskenergo Board of Directors for consideration and approval (disapproval) in the first half-year, 2009.

• General Meeting of Participants of the Network Company considered agenda item On distribution of net profit of Irkutsk Grid Company ltd in the first half-year, 2008. Due to the fact that Irkutsk Joint Stock Company of Energetics and Electrification (JSC Irkutskenergo) is the sole participant of Irkutsk Grid Company ltd (IGC ltd), under section 39 of the federal law On limited liability companies, the following resolution be made on the item referred to the competence of the next General Meeting of Participants of IGC ltd: to define the received net profit of IGC ltd according to the results of the first half-year, 2008, in the sum of RUR 537,361k; for investment activity, RUR 537,361k; including for industrial goals, RUR 537,361k.

Reference: JSC Irkutskenergo is the largest Siberian power company and one of the largest Russian power companies that operates thermal and hydroelectric stations and thermal networks. The installed capacity of the company's electricity station is 12.9GW (installed capacity of hydroelectric stations being over 9 GW).