06 Февраля 2025 | четверг | 16:17
Energoterra

Russian Networks (Rosseti JSC) have detected violations within the IDGC Holding related to expenditure of funds appropriated for upgrade of the electric power system

Апреля 18, 2014

More specifically, there were violations in terms of overpricing of the costs of works by contractors, breach of facilities commissioning procedure, and violations related to distribution and proper use of funds received for the intended purpose out of the federal budget in 2011-2012.

A few grid companies were identified that were exposed to abusive practice of the managing company IDGC Holding.

Following the results of evaluation of the internal control system, the management of Russian Networks JSC has developed a strategy to improve efficiency and transparency of operating activities of the company’s business units.

Among other things, the activity plan for 2014 includes measures aimed to improve control over planning and management of special projects implemented by subsidiaries and affiliates of Russian Networks JSC and financed both out of the federal budget and non-budgetary funds; performance of system operations related to cooperation with law enforcement authorities based on discovered facts of damage caused to Russian Networks Group; improvement of efficiency of claim-related work and defense of economic interests of the Group.

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