2014 Annual report
RU

Payment Discipline

Most of the Company’s accounts receivable as at the end of 2014 were debt for electricity supply.

In 2014 the amount of non-payment by selling companies to grid companies and electricity suppliers increased. Therefore, the Company faced growing overdue receivables. Collection of overdue receivables is carried out on the basis of the Rules of Procedure for Handling Accounts Receivable for Electricity Transmission Services on the Balance of JSC IDGC of the North-West by quarterly scheduling actions and completing the action plan. Key activities aimed to collect overdue debts include: file court claims, enter into restructuring agreements, and offset counterclaims of the same kind.

Detailed information on receivables process is provided in section “Handling Accounts Receivable for Electricity Supply”.