ST. PETERSBURG, June 9 (RIA Novosti) - The head of Russian electricity monopoly Unified Energy System said Saturday he was opposed to complete foreign ownership of the country's electric energy sector.
Russia's power sector has undergone radical changes in recent years designed at increasing the efficiency of power plants and developing the industry by attracting investment. Once reforms are complete, the potentially competitive sectors of the industry - generation, sales and maintenance companies - will partially be in private hands in competition with one another.
"Foreign ownership of two or three Russian companies out of ten [generating companies] would be optimal," Anatoly Chubais said at the 11th economic forum in St. Petersburg.
During the ongoing restructuring process, specialized structures have been established - 14 territorial, six wholesale generating companies, and hydropower operator HydroOGK - in place of the old vertically integrated companies.
A one-quarter stake in wholesale generating company OGK-5 was bought by Italy's Enel at an auction Wednesday, and Chubais said he was pleased with the fierce competition, which also involved Germany's E.On, Russian aluminum giant RusAL, and natural gas producer Novatek.
"A sign of quality is when one of the most prestigious global companies pays billions of dollars for a Russian electricity company," Chubais said.
Enel offered 39 billion rubles ($1.5 billion) for the company shares, whose plants are located in some of Russia's fastest developing regions, including the Urals. The acquisition is in line with Enel's expansion strategy in Russia.
Chubais also forecast tough rivalry for a stake in another wholesale generating company, OGK-4, which is set for an additional stock placement in late July-early August and will reduce UES' shareholding in the company to 50% plus one share.
OGK-4 includes five thermal power plants: one in western Siberia, one in the Far East, two in central Russia and one in the Perm Territory in the Urals.
