The Board of Directors approved an additional agreement to the framework Services agreement concluded between E.ON Russia JSC and E.ON New Build&Technology GmbH (ENT), that approves the payment terms and tariffs for the services rendered by ENT for 2011.
E.ON New Build&Technology renders advisory services in financial, technical issues, control and quality assurance issues for the works performed and equipment supplied.
The Board of Directors approved refusal to engage the Technical agent for implementation of the investment project on construction of power unit No. 3 of Berezovskaya GRES branch. The resolution was taken due to the fact that the major tasks of the Technical agent (e.g. control over process and quality of construction, control over spending investment monetary funds, provision of regular reporting) duplicate the tasks and functions of E.ON Russia specialists and leading specialists of E.ON Group. Refusal to engage the Technical agent allows to save monetary funds that will be used for the project financing.
Engagement of the Technical agent to implement investment projects was obligatory when financing construction at the expense of the funds received by the company from additional share issue. Due to the fact that E.ON Russia fully spent the funds received from additional share issue the requirement on obligatory engagement of the Technical agent ceased to have its effect.