OREANDA-NEWS. December 19, 2012. JSC RusHydro announces that shareholders of JSC Krasnoyarskenergosbyt, JSC Ryazan Energy Retail Company, JSC Chuvashskaya Energy Retail Company and LLC Energy Retail Company of Bashkortostan, retail companies controlled by RusHydro, transferred management function to a single governing body - JSC Energy Retail Company RusHydro (ESC RusHydro), a 100% subsidiary of RusHydro.

The corporate change will result in creation of a unified governance structure for retail companies, without the need of a merger. It will ensure a unified approach to implementing the principles of managing the retail assets, improve coordination of development plans, implement unified investment, financial and personnel policies, lead to lower operating costs.

Re-engineering of existing business processes, as well as development of unified management standards will enhance the responsibility of retail companies before consumers and optimize their operations.

Currently, RusHydro and ESC RusHydro actively engage with the Federal tariff service, regional authorities and minority shareholders of retail companies to openly communicate the expected positive effects of optimization.