State Says Grid Reforms on Track

The government has not considered delaying the pricing reforms for electricity grid companies, which is to see them transfer to regulated asset based pricing by 2011, the Federal Tariffs Service said Wednesday.

"No plans to delay the schedule have been discussed," the service said in a statement.

A report on Tuesday cited a top grid company official as saying the pricing reforms were being delayed as a result of the global financial crisis.

The statement noted that the service had on Tuesday approved the transfer of regional grid companies in southern Russian regions Kurgan and Rostov to the new pricing scheme by Jan. 1.

A spokesman for the government confirmed the content of the service's statement on Wednesday.

The pricing reform would set a stable power distribution tariff every three to five years at a rate that guarantees fair returns on the grid firms' investments and encourages spending on new technology.