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Andrey Ryumin has been appointed as Acting General Director of Rosseti PJSC

The Board of Directors of Rosseti PJSC entrusted the duties of the General Director of the company to Andrey Ryumin, who previously headed Rosseti Lenenergo.

The corresponding decision was made today in connection with the transfer of Pavel Livinsky to the post of director of the newly created Department of Energy of the Russian Government Office.

Andrey Ryumin became the head of Rosseti Lenenergo in January 2018. Previously, he worked as an independent member of the board of directors of Mosenergo, CEO of the “Obyedinennaya Energeticheskaya Kompaniya” (the second largest grid organization in the Moscow region), and in a number of other energy and investment companies.

Under his leadership, the instructions of the President of Russia were fulfilled in terms of completing the consolidation of 4 large power grid assets by joining them to Rosseti Lenenergo, as well as a full return to smoothing tariff revenue in St. Petersburg was ensured in 2020.

18 modern high-tech substations, 3,348 MVA of transformer capacity and 6,733 km of new power transmission lines have been commissioned to meet the needs of consumers and develop the power systems of the regions where Rosseti Lenenergo operates. As a result, the average duration of power supply interruption was reduced by 30%. Technological connection of key facilities was completed, including for the needs of the Nord Stream 2 gas pipeline.

The measures launched in 2018 to optimize the financial and economic condition of the company led to the receipt of the maximum net profit in the entire history of the operation of the electric grid company Rosseti Lenenergo in the amount of 12.7 billion rubles in 2019. A stable and well-established financial position of the company was achieved, and the Debt / EBITDA ratio was reduced to 0.9. The company's market capitalization grew by 23% in three years, while the net asset value increased by 30%.

As a result, the Analytical Credit Rating Agency (Joint Stock Company) raised the company's credit rating on the national scale to AAA (RU) with a stable outlook in 2019.

In 2019, Russia for the first time in terms of "Connection to the power supply system" rose to 7th place in the World Bank's Doing Business rating - thanks to a large-scale restructuring of processes by Rosseti Moscow Region and Rosseti Lenenergo in Moscow and St. Petersburg.