OREANDA-NEWS. On 02 June 2008 was announced, that the Board of Directors of JSC Irkutskenergo on 17 June will consider the Restructuring Plan of the company with transmission grids spin-off. After this, the issue will be submitted to the extraordinary shareholders meeting which will take place on 20 June. This was reported by General Director of Irkutskenergo Andrey Konovalov.

After the plan approval by the shareholders, according to Konovalov, it is supposed “in the shortest possible time” to hold reforming of the company with networks spin-off. The General Director named rough term: from a half of the year, and more.

The General Director of EvroSibEnergo company (majority shareholder of Irkutskenergo) Sergey Emdin told about the Restructuring Plan which had been already approved by the Minpromenergo (Ministry of Industry and Power). Thus, networks are supposed to be spun off from Irkutskenergo and to be transferred to the Irkutsk Grid Company (Irkutskenergo's affiliate). The IGC shares will be given to shareholders of Irkutskenergo. 'However, we consider that in any case the Irkutsk Grid Company should remain independent. It will allow to preserve the tariff balance in the Irkutsk area. But even if the property right will be transferred to the third structure, we hope to conclude long-term contracts with it which will allow to preserve the tariff balance', Sergey Emdin said.