Andrei Murov does not want to be eaten by Pavel Livinsky

The presidency of the Federal Grid Company, the son of ex-head of the FSO Andrei Murov asked Premier Dmitry Medvedev to protect the company from the claims of Rossetei. FSK is a subsidiary of Rossetei, but so far it is managed directly by the government.
Origin source
Defense of Medvedev

The head of the Federal Grid Company (FSK, manages the backbone power grids) Andrei Murov asked Prime Minister Dmitry Medvedev to maintain the company's management independence. About this RBC told two sources close to the government.

Medvedev held a working meeting with Murov on August 8 in Gorki. In the open part of this meeting, they talked about the digitization of networks, according to the website of the government. But Murov also discussed the management of the company. In particular, he asked the premier not to exclude FGC from the list of enterprises that are directly controlled by the government through directives, RBC's interlocutors reported. This list was approved by the government's decree No. 91. Representative of the Prime Minister Natalya Timakova declined to comment on the closed part of the meeting, and the representative of the Federal Grid Company also entered.

With the proposal to exclude FSK from this list, the head of Rossetei (owns more than 80% of FSK) Pavel Livinsky addressed Medvedev, two federal officials told RBC. Letter with such a request, Livinsky sent on July 12. Medvedev instructed to deal with this letter to Deputy Prime Minister Dmitry Kozak with a neutral resolution. "Together with the interested departments and with the participation of grid companies, prepare proposals for optimizing the management of the holding company PAO Rosset," one of the interlocutors who saw the letter said. "We intend to understand the corporate structure of the holding," Kozak representative Ilya Dzhus told RBC.

Long-standing conflict

"Rosseti" has long been trying to deprive FGC of independence of its most profitable and effective "daughter." So, in 2014, Deputy Minister of Energy Vyacheslav Kravchenko called this company "the largest and most valuable diamond in the crown of" Russian networks ". At the end of 2017, FGC's profit under IFRS was 73 billion rubles. with revenues of 242 billion rubles., The profit of "Rossetey" - 137 billion rubles., And the proceeds - 948 billion rubles. Due to dividends from FSK "Rosseti" subsidize other less profitable "subsidiaries" - interregional distribution grid companies. The investment program of FGC in 2018 will be slightly more than 100 billion rubles. And this is about 40% of the entire investment program of "Rossetey" (expected at 260 billion rubles.).

In April 2016, in the escalating conflict between the Rosset and the FSK, President Vladimir Putin had to intervene. Then, the Minister of Energy Alexander Novak, Deputy Prime Minister Arkady Dvorkovich and presidential aide Andrei Belousov proposed to transfer the management of FGC to Rosseti. This needed to be done to create a single center of responsibility in the networks, to translate companies into a unified technical policy, to coordinate their investment programs, says a person familiar with the transcript of the meeting with Putin. Against, in his words, the head of the FAS Igor Artemyev and the Minister of Economic Development Alexei Ulyukayev spoke. FGC now has a "good sporting outcome," and the Rossetei is poor, Artemyev said, fearing that if the autonomy is lost, the management and results of FGC will also deteriorate. And Ulyukaev noted that "Rosseti" offered to transfer to them mainly financial and economic issues, and with the finances of the "daughter" is much better than the holding itself. Then FGC managed to fight off most of the claims of the parent company - Putin did not support the consolidation of the holding. "Rosseti" only got the right to independently elect the board of directors (before that was appointed under the directive of the government).

Livinsky, who led Rosseti in the fall of 2017, in his letter to Medvedev refers to the decisions that were allegedly taken at the time of this meeting with Putin in April 2016, namely, to exclude FGC from the list of companies that are governed by the government through directives, to change the statutes of Rossetei and FSK and the shareholder agreement between Rosseti and Rosimushchestvo, RBC reported the man who saw this letter. But the head of "Rossetei" did not bring new serious arguments, but listed previously named, for example, the problem of "back-up" of government directives, the source said. At the same time in an interview with Kommersant on July 13, Livinsky said that changes in the management system of FGC "have not yet been planned."

Perhaps the proposal to exclude FGC from the list of enterprises that the government manages directly, the president supported verbally, but there was no such instruction after the meeting in April 2016, a source close to the government told RBC.

A representative of FGC told RBC that the issue of management is fully regulated by the charters of both companies, and the most important issues of business planning, financial and economic activities and investment programs are completely under the control of Rossetjam. At the same time, the government retained control over certain issues, this is enshrined in Presidential Decree No. 1567 "and does not cause any problems to any of the participants in the process," he added.