PJSC Federal Grid Company – Rosseti – Kommersant

The largest power grid holding in Russia, present in most regions, is a natural monopoly. Created on April 4, 2013 by decree of the President of the Russian Federation. The decree provided for the renaming of JSC IDGC Holding (which united the interregional distribution grid companies spun off during the reform of RAO UES) into JSC Russian Grids and the introduction of a state share (79.55%) in JSC Federal Grid Company (FGC, owns backbone networks ). Prior to this, on the contrary, FGC managed the MRSK holding.

At the beginning of 2023, the power grid holding was reorganized: PJSC Rosseti, which was previously its parent company, was merged into the former FGC, as well as JSC DVEUK-UNEG, JSC Tomsk Trunk Grids and JSC Kuban Trunk Grids. The new united company was named “Federal Grid Company – Rosseti”, abbreviated “Rosseti”. After the reorganization, the participation of the Russian Federation in the capital of the company is at least 75% plus 1 share.

Rosseti manages 2.45 million km of power grids and 826 GVA of transformer capacity. The company has ceased to publish IFRS financial statements, and the consolidated company’s financial statements have not yet been formed. FGC for 2022 received 54.2 billion rubles. net profit under RAS, which is almost twice as much as in 2021. FGC’s adjusted EBITDA increased by 6% yoy to RUB 130.3 billion. Revenue increased by 2.9% to RUB 253.5 billion.

The state has 75% plus 1 share of the united company, the rest belongs to minority shareholders, free float – 18%. The shares are traded on the Moscow Exchange, the current capitalization is 201.6 billion rubles. Chairman of the Board of Directors – Deputy Prime Minister of the Russian Federation Alexander Novak. CEO, Chairman of the Board – Andrey Ryumin.