OREANDA-NEWS. July 18, 2011. The Federal Antimonopoly Service (FAS Russia) granted a petition of “TGK-9” OJSC (a member of the group of persons of “KES” CJSC) about acquiring 100 % voting shares of “No.6 TGK” OJSC and “Volzhskaya TGK” OJSC, subject to “KES” CJSC parting with its other assets, reported the press-centre of FAS Russia.

According to the determinations, if “TGK-9” OJSC complete the transaction for acquiring over 50 % of voting shares of “No.6 TGK” OJSC or “Volzhskaya TGK” OJSC, the group of persons of KES” CJSC shall have to sell generating facilities of Novokuibyshevsk -1 Central Heating and Power Plant and Novokuibyshevsk -2 Central Heating and Power Plant no later than 1st January 2013 to the persons that are not affiliated with the company (and are not affiliated between themselves). These plants are located within “Volga” Free Power Transfer Zone and have established capacity 472 MW and 470 MW accordingly.

According to the determinations, if “No.6 TGK” OJSC or “Volzhskaya TGK” OJSC leaves the group of persons of “KES” CJSC, the company will not have to sell the plants (Novokuibyshevsk - 1 Central Heating and Power Plant and Novokuibyshevsk - 2 Central Heating and Power Plant).

Until generating facilities are sold, FAS set conduct requirements for the above plants in terms of filing price bids on the market of electric power (day-ahead market and balancing market). In particular, price bids must be economically justified and be based on weighted average cost of fuel.

The determinations are issued for the period of five years in lieu of the preceding determination – about “KES” CJSC acquiring the rights for executing the functions of an executive body “Volzhskaya TGK” OJSC.