Federal Grid Company’s mission is to ensure reliable operation and development of UNEG that will be adequate to economic growth, and demonstrate high economic efficiency and cost minimisation.
Our strategy should ensure steady commitment to this mission, respond to technological and economic challenges and promote the solution of problems that are caused by the current situation in the backbone electric grids and the capacity, which is available for meeting the demand.
The Company’s strategy is outlined in the Long-Term Development Programme approved by the Board of Directors in 2014.
The base case scenario underlying Federal Grid Company’s financial model is based on the meeting of key performance indicators, including a 30% reduction in operating and investment costs against 2012 already by 2017. These targets are more ambitious than those set in the Development Strategy for the Russian Electric Grid Complex. Yet, the Company aims to achieve these higher targets because it needs to complete a long-term investment programme and maintain a sustainable financial position.
Measures developed within the Long-Term Development Programme were focused on addressing the above issues and involved initiatives in the following areas:
- improving efficiency of investing activities;
- improving operational efficiency;
- import substitution;
- improving managerial efficiency;
- enhancing the transparency of the Company’s activities and improving its consumer relations.
An audit was initiated by Federal Grid Company and held in 2015 in order to monitor the implementation of measures and achievement of targets that are set in the Long-Term Development Programme. An independent auditor compared the targeted and achieved KPIs in 2014, and analysed the reasons of deviations that were identified during the audit. Based on this review, the auditor concluded that actual KPIs were higher than the targeted ones. Besides an external audit, Federal Grid Company performs internal monitoring of measures included in the Long-Term Development Programme, a report is drawn up based on monitoring findings.