OREANDA-NEWS. April 9, 2009. The aggregate 2009 investment program of Russian power utilities has been cut by about RUB 60-70 bn, or 9-11% to RUB 550 bn, a government source said commenting on the investment program for 2009 and up to 2011.

According to the source, the investment program is based on state-run companies, including MRSK, FSK, RusHydro, East Energy Systems, Inter UES, OGK-1, System Operator, Energoatom Concern. According to the source, the 3-year investments will total RUB 1.8 tn, down some RUB 300 bn or 14.3% on the previous investment program. In addition, in 2009, the investment program will amount to RUB 550 bn, down about RUB 60-70 bn on the previous investment program.

The government source went on to say that the amount of the investment program in kind will remain almost unchanged and its nominal amount declined on the back of nearly a 15% decrease in expenses.