Possible postponement of transition to RAB of two branches of IDGC of the North-West analysts estimate neutrally

Director general of JSC "IDGC Holding" Nikolay Shvets has informed journalists on possible carrying over of terms of transition on RAB in a number of regions from July, 1st, 2010 to January, 1st, 2011 «There are some appeals of a part of subjects to carry over terms of transfer on a new method of regulation to January, 1st», - he has told.
Intentions of two regions - Komi Republic and Vologda Region - to postpone for half of a year transition to a new regulating system of tariffs Director general of JSC «IDGC of North-West» Alexander Kuhmaj has confirmed to journalists on June, 24th. It was originally planned that branches "Komienergo" and "Vologdaenergo" will pass to the method of return on investment since July, 1st, 2010. He also has confirmed the information that branch of IDGC of the North-West "Pskovenergo" still is going to pass on RAB since July, 1st.
«Carrying over by branches of "IDGC of North-West" of terms of transition on RAB for later date is very important, but does not bear in itself essential risks», - writes «Finam», quoting the analyst of an investment bank "Otkrytie".
«Earlier IDGC of Centre also has informed that transfer of its branches on RAB-regulation is postponed. A principal cause of carrying over of terms is that IDGC is requiring time for the assertion of the adequate size of initial adjustable base of assets. As a result, in spite of the fact that this news is very important, in our opinion, it hardly will essentially affect dynamics of stock quotations of IDGC of North-West», - expert of IB "Otkrytie" considers.
Estimation of analysts of «Alfa-Bank» - «neutrally». "Delay with introduction of a new method of regulation of tariffs will not affect essentially on incomes of the company as in Russia tariffs for the network companies are established for all calendar year. Even if in the indicated branches will apply RAB-regulation, since July, 1st, tariffs thus will not change. We notice that now investors are disturbed by possible serious changes in parameters of RAB, and delay of introduction of RAB-regulation can be considered as acknowledgement of existence of corresponding risks. However we underline that IDGC initially supposed some delay concerning the approved schedule of introduction of RAB-regulation as some parameters necessary for use of the five years period of regulation for the present are not assigned. Thus, we do not see in this news serious fundamental risks», - experts of «Alfa-Bank» concludes.