Confederations Cup: Russia vs Portugal match sold out, says FIFA secretary generalSport April 25, 21:20
Russian diplomat suggests UN should develop strategy to fight fake newsRussian Politics & Diplomacy April 25, 20:16
Putin backs creation of system to promote Russian goods on domestic marketBusiness & Economy April 25, 19:15
OSCE concerned over Russia’s declaring Jehovah’s Witnesses extremist organizationWorld April 25, 19:00
Russia to complete import substitution program for helicopter engines by 2019Military & Defense April 25, 18:39
Government is not going to reject floating ruble rate, Putin saysBusiness & Economy April 25, 18:10
Russian Navy rids itself of dependence on Ukrainian enginesMilitary & Defense April 25, 17:55
Ukraine's refusal to continue military cooperation prompts Russia to create new industriesMilitary & Defense April 25, 17:50
FIFA Secretary General on her mission and expectations from Confederations CupSport April 25, 17:39
ST. PETERSBURG, June 18. /ITAR-TASS/. Finnish energy company Fortum has blocked a deal of Russian electricity producer Territorial Generating Company-1 (TGC-1) to sell 75% in St. Petersburg-based grid firm Saint Petersburg heating network to the city government, Gazprom Energoholding CEO Denis Fyodorov said late Tuesday.
Fortum holds 25.6% in TGC-1, which is controlled by Gazprom Energoholding.Fyodorov said he believed that Fortum's decision to block the deal was not right and could lead to significant changes in TGC-1's dividend policy.
The current tariff decisions will not help improve the heat supply situation in St. Petersburg without additional investments, Fyodorov said. “Maintaining thermal grids in a normal state requires 3.5-4.0 billion rubles (ca. $114 million), while additional annual investments of 5.0-6.0 billion rubles (ca. $172 million) are necessary to improve the situation,” he said.
“This creates certain risks that TGC-1 will not be paying dividends in the future while earmarking the entire net profit on thermal grids upgrade in St. Petersburg.”
The St. Petersburg government planned to acquire TGC-1's stake in the grid firm for 6.3 billion rubles.