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Head of IDGC Holding to Resign

The head of OJSC Holding IDGC Nickolay Shvets is to resign from his position. This was reported by several sources in power grid companies.

According to one of the sources, the decisions of N. Shvets’s resignation was taken on the governmental level, no corporation procedures have been held so far, the detailed information about the head’s of the holding leaving may appear on Friday.

There is also information that IDGC Holding can be taken over by OJSC FGC UES, however, it has not been specified, whether the holding will be owned by FGC UES or just managed by this company. One of the sources claims that the principal decision has already been taken, but the technical details of assigning the holding to FGC have not been determined yet.

The press-secretary of Minenergo of the Russian Federation Dmitriy Klokov confirmed the information that the governmental agency received a directive from the government of the Russian Federation of May 8 concerning the fact that all the powers of the unified executive body of IDGC are to be assigned to FGC.

Holding IDGC manages most of the distribution grid complex of the Russian Federation controlled by the state.
FGC owns and manages electrical grid facilities of the Unified national electrical grid of the Russian Federation. The controlling shareholder of the company is also a state.

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