"Rosseti" did not recognize Crimea as Russian

The state holding will not work on the peninsula, and local networks will be given to the Federal Property Agency.
The government decided to shield "Rosseti" from sanctions risks and finally abandoned the idea of ​​the state holding entering into JSC "Krymenergo". In this structure it is planned to transfer electric grids of the Crimea and Rosseti could get control in it. However, in the end, he will be with the Federal Property Management Agency.

The government finally abandoned plans to include Rossetei in Crimea Krymenergo. In the final configuration, the composition of the shareholders will be as follows: 51% through the Federal Property Management Agency will belong to the federal authorities, 49% - to the local government, the source familiar with the situation told Kommersant and confirmed the source in the network complex. The main reason for this decision is the high risks of sanctions for Rossetei. Now the company is not under sanctions at all. One of the interlocutors of Kommersant, however, clarified that the proportion in the share capital may still change and will depend on the valuation of the property. In Rosimushchestvo clarified that the assessment has not yet been initiated.

"Now the creation of the" road map "for the organization of the AO passes the final stage, but it is actually agreed upon, there is no" Rossetei "in it - this can be considered the final decision," the source said. According to him, the charter of JSC "Krymenergo" is already registered. This "Kommersant" confirmed in Rosimushchestvo: "At the moment the JSC was created and registered on the territory of the Republic of Crimea. Profile activities have not yet lead. " But information about the possible distribution of shares of shareholders in the JSC, which now is 100% owned by the Federal Property Management Agency, is not available in the department. In the Ministry of Energy and Rossetah, as well as in the apparatus of the government of Crimea and the Ministry of Fuel and Energy, they did not answer the inquiry from Kommersant.

The head of Crimea, Sergei Aksyonov, said in an interview with TASS on February 15 that part of the shares of JSC "Krymenergo" will nevertheless depart for "Rossetjam". "When there is a joint-stock company, some part of the package will belong to the Crimea, some kind of" Rossetjam ". In what percentage of this will happen, will be known after a full evaluation (property PMU), "the official said. Now the Crimea's electricity networks are managed by SUE "Krymenergo" (owned by the Ministry of Fuel and Energy of Crimea), in the future it will be united with "Krymenergo". Initially, it was assumed that the main shareholder of "Krymenergo" would be "Rosseti" with a share of about 75%, Simferopol announced plans for parity ownership, but in December it became known that an alternative scheme was being developed - attracting Rosimushchestvo instead of Rossetei. To update the network infrastructure on the peninsula, the Ministry of Energy of the Russian Federation proposed to invest up to 9 billion rubles in the capital of Rossetei. from the federal budget until 2020.

State Unitary Enterprise "Krymenergo" was established in April 2014, it serves about 800 thousand household consumers and 23 thousand legal entities. On its balance sheet are 15 220-330 kV substations, 75 110 kV substations, 32,900 km of power transmission lines. The company's revenue for 2016 is 12.76 billion rubles, net profit is 225 million rubles.

It is likely that Rosseti will not enter another project on the peninsula - the creation of a joint venture with OOO Sevastopolenergo (formerly owned by the Ukrainian EC Sevastopolenergo, it was associated with a member of the Federation Council of the Russian Federation Alexander Babakov and Yevgeny Giner). "But the final decision on this issue will have to be made by Rosseti itself," the Kommersant source explained.

Natalya Porokhova of ACRA, notes that, although among the largest Russian companies, Rosseti is least oriented toward foreign creditors and equipment suppliers, access to the peninsula would have extremely negative consequences for the development of relations with foreign trade partners and investors. For the state holding there were also economic risks. "Infrastructure requires investments for the development of the region, and this could lead to additional social burden for the company," the analyst believes. Entry into the Crimea could drop quotes GDR "Rossetey", believes analyst "Alor Broker" Kirill Yakovenko. "On Russian sites, investors perceive the news of the non-appearance of Rossetei to the Crimea positively," the analyst said.