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On 16 May, the discussion session "Long-Term Investments. Predictable Results within the Russian Jurisdiction" was held. Andrey Ivanov, Deputy Minister of Finance of the Russian Federation, and Alexander Sitnikov, VEGAS LEX Managing partner, acted as moderators of the session.

The topic of discussion is important since the draft law concerning special investment contracts, i.e. SPIC 2.0, which was introduced by the Ministry of Finance, is under consideration by the Government of the Russian Federation. The document provides for major revision of the tool of SPIC concluded in accordance with the Law on Industrial Policy.

Sergey Puzyrevskiy, Deputy Head of FAS Russia, Denis Kravchenko, Deputy of the State Duma of Russia, Svetlana Yachevskaya, Deputy Chairman of the Bank for Development and Foreign Economic Affairs (Vnesheconombank) – a member of the Management Board, Igor Drozdov, President of Skolkovo Foundation, Alexander Kuleshov, Rector of Skolkovo Institute of Science and Technology, and other investment experts participated in the session.

The possibilities of customization of investment projects by using a special investment contract tool, the matters of promotion of investments in technological development and the matters of financial audit of the projects were considered.

The session generated considerable interest among the Forum’s audience that is expecting the early positive influence of the SPIC 2.0 tool on attraction of investments in the Russian economy, and generation of the long-term demand for goods, works and services manufactured/performed in Russia, and ensuring of the ability of domestic goods, works and services to compete in the Russian and international markets, including the development of export.

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On 17 May, the discussion session "Major Modernization of Thermal Power and Reform of Thermal Market in Russia as a Guarantee of Efficient Investing in the Field" was held. Alexander Sitnikov, Managing partner at VEGAS LEX, acted as moderator of the session.

Larisa Titova, Deputy Director of Corporate and Legal Affairs of Gazprom Energoholding LLC, Vitaliy Korolyev, Deputy Head of FAS Russia, Anastasia Bondarenko, Deputy Minister of Energy of the Russian Federation, Rustem Miftakhudinov, Associate Professor of the Business & Corporate Law at Academic Department of the Moscow State University of Law named after O.E. Kutafin (MGUA), Dmitriy Vologzhanin, Director of the Association "Council of Power Producers", and Viktor Nesterenko, President of the Non-State Educational Institution of Supplementary Vocational Education "School "LawTEK", participated in the session.

"It is necessary to create the conditions for modernization of heat power industry. There must appear the positive long-term ecosystem that will envisage not merely the sets of state guarantees but also understandable long-term methods of regulation for the heat energy users and suppliers. The specific condition is stable economic situation. Briefly, we have a lot on our plate. Various ministries and agencies have different approaches as to which problem needs to be addressed first", – Alexander Sitnikov broached his opinion to the audience.

Anastasia Bondarenko, Deputy Minister of Energy of the Russian Federation, told about the mechanisms of attraction of investments in reconstruction of generation facilities of the combined heat and power plants (CHP plants). The expert emphasized that modernization of thermal generation is the inter-industry problem where the mechanisms of investing in renovation of CHP plants must be implemented with the support of localization and domestic production of equipment as well as innovations in power-plant engineering and electric power industry. 

Vitaliy Korolyev, Deputy Head of FAS Russia, commented on the proposal of Minenergo for modernization of heat power industry, in particular, the new principle of tariff formation according to the method of "alternative boiler-house". "If the "alternative boiler-house" method is in agreement with both local and federal authorities, then antimonopoly control mechanisms will not be required. In such a case, the mechanism may be assessed not earlier than within the five-year horizon", – the expert noted.

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On 18 May, Evgeniy Rodin, VEGAS LEX Partner, Head of Energy practice, delivered a speech within the framework of the discussion session "Energy for Human". The well-known Russian and foreign experts in law and power industry, representing both state authorities and major power generation companies in Russia and abroad, participated in the event.

Within the scope of the discussion, the experts addressed the issues related to promotion of competition in the Fuel & Energy Complex (FEC) and impact of the adopted legislative changes on the Doing Business rating as well as discussed the importance of implementation of the plan for transition to digital economy for an electric power consumer.

Evgeniy Rodin provided insight into the consumer’s opinion as to introduction of digital technologies on retail electricity markets as well as described the use of smart metering as a method for promotion of competition on retail market.

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On VEGAS LEX’s activity in the implementation of investment projects, please click here.

On VEGAS LEX’s activity in power industry, please click here.

On VEGAS LEX’s activity in antimonopoly regulation, please click here.

The source of the photo: St. Petersburg International Legal Forum's website.