OREANDA-NEWS. September 15, 2009. Government plans to upsize investment programs of state-run utility companies in 2010 by RUB 50.8 bn y-o-y to RUB 600.8 bn, the government’s press-service said in a report prepared for the September 15 cabinet meeting. A source at the Russian Ministry of Energy said on Monday that the government did not rule out staging SPOs at FGC, RusHydro and MRSK Holding with the aim of financing their investment programs.

The aggregate value of Russian power utilities' investment programs scheduled for 2010 totals nearly RUB 779.2 bn, with RUB 600.8 bn of this amount to go to state-run companies. In 2008, the overall amount of investments funneled into state-run utility companies came to RUB 550 bn. The Energy Ministry's new investment forecast is based on assumptions energy consumption in Russia will grow by 0.4% in 2010, 1.8% in 2011 and by 3.1% in 2012.