Public joint-stock company “Federal Grid Company of Unified Energy System (hereinafter Company, Federal Grid Company, Federal Grid, PJSC FGC UES) was established in 2002, in accordance with Russia’s electricity industry reform package, as a management organisation of the Unified National (All-Russia) Electric Grid (“UNEG”) for the purpose of its maintenance and development. G4-4
In accordance with the Federal Law “On Electric Power Industry” No. 35-FZ dated 26 March 2003, Federal Grid Company is a natural monopoly in the area of electricity transmission through UNEG and is responsible for the reliable electricity supply for customers in the Russian Federation.
Federal Grid is included in a list of systemically important organisations that have a significant influence on GDP of the Russian Federation, employment and social stability in the country.
Electric grid facilities locate in the regions of the Russian Federation with a total area of more than 14.8 million sq. km (86.4% of the area of the country). Being a technological infrastructure of UES of Russia and electric energy market, electric grids play a key integrative role in fuel and energy complex; provide electricity supply to consumers, power delivery of power plants, as well as power exchange between the regions, the implementation of systemic impacts.
Full corporate name: Public Joint Stock Company “Federal Grid Company of Unified Energy System”.G4-3 G4-7
Location of the organisation’s headquarters G4-5Location: 5a Academica Chelomeya str., Moscow,
Phone: 8 800 200 18 81
Fax: +7 (495) 710-96-41
Full corporate name is effective from 08 July 2015.
Short corporate name: PJSC FGC UES
Short corporate name is effective from 08 July 2015.
- managing UNEG;
- investing in UNEG development;
- providing electricity transmission and technological connection services to Wholesale Electricity and Capacity Market (WECM) participants;
- maintaining UNEG facilities in appropriate condition and providing technical supervision.
Federal Grid Company’s equity as at end-2015 amounted to RUB886,127,082 thousand
Federal Grid Company’s debt as at end-2015 amounted to RUB281,022,301 thousand.
Federal Grid’s net revenue for 2015 from sales of goods, works an services (less VAT and similar payments) amounted
RUB173,266,394 thousand, including:
- Electricity transmission services – RUB158,986,316 thousand
- Other operations – RUB14,280,078 thousand
As of 31 December 2015, the charter capital of Federal Grid Company amounted to RUB637,332,661,531.50 and was divided into 1,274,665,323,063 ordinary registered non-documentary shares with a nominal value of RUB0.50 each.G4-9
Federal Grid’s net profit for 2015
In accordance with the Company’s Articles of Association, the number of authorised shares is 72,140,500,768 ordinary registered shares with a nominal value of RUB0.50 each and a total nominal value of RUB36,070,250,384. Authorised ordinary shares offer the same rights as outstanding ordinary shares.
Share Capital Structure
The Company has more than 400,000 shareholders. PJSC Rosseti, which owns 80.13% of the share capital, is the Company’s majority shareholder. The Russian Federation, represented by the Federal Agency for State Property Management (Rosimushchestvo), owns 0.59% of the share capital.
The Company’ Registrar is JSC STATUS.
The State’s share in the сharter capital of Federal Grid Company increased successively due to placement of additional issues in favor of the Russian Federation conducted in 2007, 2008, 2009, 2010, 2011, 2012 and 2013 with payment of shares by means of the Federal budget, and as a result of the reorganisation of JSC RAO UES of Russia performed in 2008. The received budget allocations were spent by Federal grid for the investment programme financing and implementation of federal target programs. In total, RUB101,857,735,698 were allocated from the Federal budget from 2007 to 2013 to finance the Company’s investment programme, including RUB3.756 billion in 2013. In 2014–2015, no funds from the Federal budget were sent to the Company.G4-ЕС4
In June 2013, PJSC Rosseti and Rosimushchestvo signed a shareholders’ agreement regarding the managing and voting in Federal Grid Company. The parties have signed the agreement with respect to all, present and future, voting shares in Federal Grid Company.
To improve interactions with shareholders, Federal Grid Company analysed its shareholder register and identified the key groups of holders of ordinary shares and depository receipts. As of the end of 2015, the Company’s free float was 18.2%. The main minority shareholders of the Company are institutional investors and holding companies, with retail investors accounting for 3.23%. G4-13
Share Capital Structure and Number of
Outstanding Shares, %
** Federal Grid Company management is not aware of any shareholders that hold more than 5% of the outstanding shares, other than those specified above.
Foreign Investor Breakdown by Investment
32% of the Company’s free float includes foreign institutional investors, such as major global funds focused primarily on Russia, whose assets under management exceed USD1 billion: Kopernik Global All-Cap Fund, Vanguard International Equity Index Fund, MarketVectors ETF Trust Russia ETF, and BlackRock funds.
Organisational Structure of Federal Grid Company
The General Meeting of Shareholders is the supreme governing body of the Company. The Board of Directors is responsible for establishing the Federal Grid’s strategy and overseeing the Management Board’s activities. The Management Board is in charge for the day-to-day operations of the Company.
As at 31 December 2015, the Company has 51 regional branches, including:
- 88 branches – backbone electric grids (MES)
- 41 branches – backbone electric grid enterprises (PMES)
- Technical Supervision Centre
- Special Purpose Production Centre «Bely Rast»
Managing subsidiaries and associates
As at 31 December 2015, Federal Grid Company participates in 26 business entities that operate in different industries, including those that support electric grid facilities (core subsidiaries).
|Key forms of Federal Grid Company’s
engagement with subsidiaries and associates
|Federal Grid Company’s internal documents that regulate management of its subsidiaries and associates|