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UES board to discuss establishment of 11 interregional grid cos.

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MOSCOW, March 2 (RIA Novosti) - The board of Russia's Unified Energy System [RTS: EESR] plans to consider soon the establishment of 11 interregional distribution grid companies (IRDGC), UES' chief executive said Friday.

Anatoly Chubais added that four IRDGCs will be reorganized, and that one additional such company will be created to be part of the Far Eastern Energy Company.

The UES board approved earlier Friday a final reorganization scheme for the Russian electricity monopoly.

As a result of the reorganization, the Federal Grid Company uniting all transmission networks, Hydro-WGC consolidating all hydropower plants' assets, the System Operator, wholesale and territorial generating companies (WGCs and TGCs) and other elements, will become independent organizations and UES will stop existing as a monopoly.

UES said its reorganization could be completed July 1, 2008.

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