OREANDA-NEWS. The Board of Directors of RAO "UES of Russia" approved the modifications to the model for consolidation of the facilities comprising the Unified National Energy Grid ("UNEG"), presented by the Management Board.

It was decided that a more advantageous approach would be to merge the TCs and ITCs with and into OAO "UES FGC" as a single step transaction, provided that the Government maintains at least 75 percent plus 1 share in OAO "UES FGC" as a result of transfer of the required number of generation companies' shares to the "State Holding".

This model for consolidation of the UNEG assets was discussed with and received the support of TCs' shareholders. It will help ensure that all UNEG assets of RAO UES Holding are consolidated, eliminate lease relationships, and pave the way for direct investment by OAO "UES FGC" in the development of TCs' regional trunk grids previously owned by the regional energos.