MRSK Center and Volga
MRSK Center-Volga is the main service provider of power transmission and process connection to power networks in Russia’s Vladimir, Ivanovo, Kaluga, Kirov, Nizhni Novgorod, Ryazan, Tula, Mary El and Udmurtia regions. The main shareholder is MRSK Holding with a 50.4% stake (in which the government’s stake is 53.7%). Around 10% of Russia’s population lives in the territory on which it operates. The company owns electric grids of 0.4–220 kV and equipment used to transmit electricity in its operating area. MRSK Center-Volga is part of a natural monopoly. The company’s revenues come from payments for electricity transmission and payment for new connections.
MRSK Center-Volga upgraded its corporate governance system in 2008, and it now corresponds with best global practices, having adopted a regulatory framework. In 2011, all branches switched to the method of tariff calculation based on the principle of return on a regulated asset base (RAB). There are new opportunities for improving operating parameters, and the management wants to reduce expenses.
Moody’s assigned MRSK Center-Volga a credit rating of Ba2, the outlook stable, and a rating of Aa2.ru based on the national scale.