According to the UES board chairman, "the liquidation proposal was received positively by the working subgroup Structural Reforms at its December 3 sitting in the Industry and Energy Ministry."
"It is a crucial decision fixing the deadline for reform of the UES and creating a real and efficient market," Mr. Chubais said.
While reforming the company, it is planned to establish six Wholesale Generating Companies (OGKs) on the basis of thermoelectric power stations and four OGKs on the basis of hydroelectric power plants.
"Although methods of the reform are still unknown, the most reasonable thing, to my mind, will be the internal rescheduling of the holding by thoroughly discussed and agreed-upon proportional division of shares," Mr. Chubais said.
As a result of rescheduling, a holder of any number of shares will get a share in each of the newborn energy companies.
In turn, Industry and Energy Minister Viktor Khristenko told journalists on Friday that the structural reform in the energy sector will be over in late 2006.
"In our common view, two years - 2005-2006 - is enough for winding up the reform of the power industry," Mr. Khristenko said.
He voiced confidence that late 2006 is the real deadline for completing all the structural reforms in the power industry, which will "lead to the liquidation of UES of Russia."
The minister noted that the reform under way in the power industry is active enough. "All the stage deadlines set before UES have been met. Only a two-to-three-month difference exists," Mr. Khristenko stressed.
