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UES to select consultancies for WGC and TGC share issues

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MOSCOW, April 14 (RIA Novosti) - Russian electricity monopoly Unified Energy System (UES) has announced a contest for companies to manage the issue of additional stock in wholesale and territorial generating companies (WGCs and TGCs), the electricity giant said Friday.

Applications will be received from April 14 to 27. UES is inviting investment consultant firms with previous experience of work with Russian companies that have floated shares on domestic and international stock exchanges. Candidates must have managed at least three emissions amounting to not less than $300 million each.

Listing in relevant registers would be a further advantage for bidders.

The seven wholesale generating companies formed through the restructuring of Russia's power sector comprise between four and six power plants situated in different regions of the country, to prevent possible monopoly abuse. Six WGCs contain major thermal power plants, one is purely hydroelectric.

The 14 territorial generating companies contain power plants not within WGCs, located in contiguous districts. These are predominantly combined heat and power plants (CHPs).

UES said Friday its board of directors would consider proposals for WGC and TGC share emissions in 2006-2008.

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