UNIFIED ENERGY SYSTEM

Unified Energy System: translation

(UES)

Established on 15 August 1992, the Unified Energy System was Russia’s electric power holding company, and ran the national power grid until 1 July 2008. UES controlled 70 percent of the country’s electricity capacity and transmission lines and nearly the entire high-voltage grid. Headquartered inMoscowand employing more than half a million people, UES ranked as one of Russia’s most important companies. The government maintained a majority stake in the company, but allowed minority ownership. Beginning in 2006, portions of UES underwentprivatizationto attract investment, creating more than 20 new companies. In 2008, UES was reorganized as the Federal Grid Company of Unified Energy System (UES FGC); federal law requires the state to maintain at least a 75 percent ownership of the new concern.Anatoly Chubaiswas the last chair of UES.