At its meeting on May 29, Russian Grids’ board of directors approved the corporate economic policy, which includes policies in business planning and accounting, finance, credit, insurance, dividends and shareholder relations, and tariff regulation.
The document was deemed acceptable by federal authorities in the executive branch.
Priorities identified in the economic policy included the following: operational efficiency, investment and finance actions to optimize expenditures, ensuring long-term and transparent regulation of rates, improvement of investment attractiveness, improvement of rate policy and rule-making on electrical power, while balancing the interests of the industry and our customers.
The company's operating costs are expected to fall at least by 15% by 2017. That takes into account the level of inflation in 2012 per unit maintenance of electrical equipment, as well as a reduction in the specific investment costs by 30 % compared with 2012.
The economic policy also delineates tasks for improving rule-making on rate regulation, including the preservation and development of RAB-regulation, improved boiler pricing principles, concept development to attract investment in the creation and development of the existing infrastructure for large consumers by introducing individual pricing, increasing customers' liability for the amount of power used in connecting to the grid, and specifying ways to spread the amount of cross-subsidization and determine the order in which it is calculated.