Gazprom Energoholding LLC completes creation of the unified management system of the main production companies

August 23, 2019 17:01

Gazprom Energoholding LLC completes creation of the uniform management system of the main production companies of Gazprom Group in electric power industry — PJSC Mosenergo, PJSC MOEK, PJSC OGK-2 and PJSC TGK-1.

Pursuant to the decision of PJSC Gazprom, the implementation of corporate procedures of delegation to Gazprom Energoholding LLC of powers of a sole executive body TGK-1 has started.

Gazprom Energoholding LLC already carries out such powers in PJSC Mosenergo, PJSC MOEK and PJSC OGK-2, which has enabled to raise efficiency of managing these companies.

Background

Gazprom Energoholding LLC (a wholly owned subsidiary of PJSC Gazprom) was created within the framework of implementation of the Strategy of PJSC Gazprom in electric power industry as a vertically integrated company. Gazprom Energoholding LLC manages subsidiary companies, power industry enterprises of Gazprom Group by performing functions of the unified corporate centre.

The main production companies, which are a part of Gazprom Energoholding, are PJSC Mosenergo, PJSC MOEK, PJSC OGK-2 and PJSC TGC-1. Powers of a sole executive body of PJSC Mosenergo and PJSC MOEK were delegated to Gazprom Energoholding LLC according to the decisions made at the extraordinary General meetings of the companies’ shareholders on May 20, 2015, and of PJSC OGK-2 — persuant to the decision of the annual General meeting of shareholders on June 26, 2018.

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