OREANDA-NEWS. May 22, 2014. Board of Directors of JSC “MOESK” approved the draft adjusted investment program for 2014 and for the period till 2019. According to the approved draft volume of capital investments for the period will amount to RUR bln 204.0 without VAT, volume of financing – RUR bln 232.2 with VAT, and introduction of fixed assets – RUR bln 214.0 without VAT.

Draft Investment Program of the Company for 2014-2019 is prepared with the account to Investment Program for 2014-2018, which was earlier taken into account by the Company’s Board of Directors and after rework, agreed by JSC “System operator of Unified Energy System”, Regional Energy Commission of Moscow, Department of fuel and energy economy of Moscow and Ministry of Energy of Moscow region. At the moment Investment Program for 2014-2018 after conduct on April, 02nd of Public hearings under the Ministry of Energy of RF is on approval in the Ministry of Energy of Russia.

Main goals of the Company’s Investment Program are equipment renewal, which is necessary for sufficient, reliable, uninterrupted power supply of consumers; securing of electric power supply restoration time within “the old” borders of Moscow – not more than 47 minutes, on the territory of Troitskiy and Novomoskovskiy administrative districts – not more than 112 minutes, on the territory of Moscow region – not more than 2 hours; 20 kV distribution grid development; realization of program on lifting of restrictions on grid connection from overloaded power centres, etc.

Draft Investment Program of JSC “MOESK” for the period of 2014-2019 repeats in many respects the parameters of Investment Program for 2014-2018, which was earlier taken into account by the Company’s Board of Directors. Main differences are in increase of fixed assets introduction in 2018 by RUR bln 1.5 up to RUR bln 31.0 at constant volume of financing, which is tied with inclusion to the program of stagewise introduction of 110 kV cable feeders at SS “Kaskadnaya”. Also capacity introduction (MVA) was changed by years in 2014-2018, which is mostly tied with refinement of investment program within the process frames of its approval in the Ministry of Energy of Moscow region.

Changes in the structure of financing sources, particularly, increase of the stake of own and reduction of the stake of borrowed assets, are carried out upon agreement with the Prices and Tariff Committee of Moscow region during the agreement process of Investment Program for 2014-2018.