Leningrad Regional Power Grid Management Company LOESK

OJSC Leningrad Regional Power Grid Management Company today is the second largest power grid company in the region after Lenenergo. The company includes 15 branches providing power to 25 cities and large villages of the Leningrad Region with a population of more than a million people. The company serves more than 7,800 km of electric networks with voltage from 0.4 to 110 kV and 2,400 transformer substations. The volume of electricity transmitted through the LOESK networks is more than 2 billion kWh.

History

2024: Rosseti Lenenergo buys 75% of LOESK

Rosseti Lenenergo"" buy the energy company LOESK, which became known in early May 2024. The deal was approved by the president. Russia Vladimir Putin

On April 23, 2024, the head of state put the resolution "I agree" on a letter from the chairman of the board of PJSC Rosseti Andrei Ryumin, 47news reported with reference to this document. According to the portal, Ryumin took the initiative to consolidate the power grid economy of the Leningrad Region. We are talking about buying at least 75% + 1 share of LOESK.

Freepik

According to Mikhail Burmistrov, CEO of Infoline Analytics, the company's business value most likely does not exceed 7-7.5 billion rubles and a 75% + 1 share package can cost about 5 billion rubles.

The most likely way to acquire LOESK shares is to directly purchase them at a fixed value from current shareholders with a share of 75.01%, Evgeny Gulyaev, head of financial and management consulting at IPP, told Kommersant.

According to 47news, for several years, representatives of Rosseti Lenenergo and LOESK met at meetings of the regional, federal levels, and also fought in arbitration for the necessary gross revenue (NVV). This is an economically reasonable amount of funds necessary for economic and investment activities. In this case, its total amount is laid down by the tariff committee. That is, if one NVV player has arrived, the other has disappeared.

Ilya Zharsky, managing partner of the Veta expert group, suggests that a deal may be necessary in order to implement the state initiative to create backbone territorial network organizations in each region. The merger of power grid companies will make it possible to more effectively maintain industry infrastructure, modernize worn-out networks and more efficiently fight debtors, he said.^[1]

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