Source Pravda.Ru

"UES OF Russia" Head Hopes Power Industry Reform Will Be Completed in Three Years

Head of the RAO "UES of Russia" Anatoly Chubais hopes that reform of the power industry energy will be completed in three years, by summer 2006.

The reorganisation of the country's power industry will be completed in summer 2006, when the RAO "Unified Energy Systems of Russia" is divided and "the people are ridden of Chubais", he said when speaking at an annual regional journalists' forum on Tuesday.

The past six months have witnessed "a new phenomenon", Russian business is moving to the power industry, Chubais pointed out. 10 percent of the holding's stocks changed their owners during this period, he added.

At the same time "Western shareholders have not invested a rouble in the holding so far", and they will very soon "regret" it, Chubais believes.