E.ON Russia Declines Technical Agent for Third Power Unit Construction for Berezovskaya State District Power Plant

The board of directors of JSC E.ON Russia approved of the addendum to the framework service agreement between JSC E.ON Russia and E.ON New Build&Тechnology GmbH (ENT), which states the terms of payment and tariffs for ENT services for 2011.

E.ON New Build&Technology provides consultancy services in the financial and technical spheres, in the field of quality control and quality assurance of the executed works and the delivered equipment.

The board of directors approved of the refusal to involve a technical agent for the execution of the investment project of the third energy unit of the Berezovskaya state district power plant (SDPP) construction. This decision was taken due to the fact that the main tasks of a technical agent (which include control over the development and quality of construction, control over the investment funds expenditure, regular reports submission) are executed by the tasks and function of JSC E.ON Russia experts. The refusal to engage a technical agent will make possible to save money which will be used for the project funding.

The technical agent involvement for the implementation of investment projects was obligatory when the construction was financed from the funds obtained due to the issue of additional shares. Since JSC E.ON Russia has spent all the funds obtained from additional shares, the obligation to involve a technical agent ceased to have effect.

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