ARAF to check information from new ARD film on doping in Russian sportSport January 22, 22:47
All countries observe oil output cuts agreement — Russian energy ministerBusiness & Economy January 22, 16:59
Rogozin calls "dangerous incident" UK botched missile launchRussian Politics & Diplomacy January 22, 16:32
Medvedev calls United Russia ruling party, president's main resourceRussian Politics & Diplomacy January 22, 16:27
Mutko calls silly information Infantino asks him not to run for RFU headSport January 22, 16:24
Seven parties to participate in Syrian talksWorld January 22, 9:54
Russia’s Pavlyuchenkova reaches Australian Open quarterfinalsSport January 22, 7:19
IBU Executive Board finds no grouns to suspend Russia's biathlon teamSport January 21, 22:53
Russia terrified watching monuments destroyed in Palmyra — culture ministerRussian Politics & Diplomacy January 21, 17:08
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.