History of Rosseti Volga, PJSC
Public Joint Stock Company ROSSETI Volga (formerly Public Joint Stock Company Interregional Distribution Grid Company Volga, Open Joint Stock Company Interregional Distribution Grid Company Volga)was founded pursuant to its founder's decision (Order of the Chairman of the Managing Board of RAO UES of Russia, JSC No. 191r of June 22, 2007) within the framework of reforming of the Russian power industry, and was registered on June, 29, 2007 in the Unified State Register of Legal Entities by Federal Tax Service Inter-District Inspectorate No. 8 for the Saratovskaya Oblast pursuant to decision of the Board of Directors of RAO UES of Russia, JSC of April 27, 2007.
Public Joint Stock Company ROSSETI Volga (formerly Public Joint Stock Company Interregional Distribution Grid Company Volga, Open Joint Stock Company Interregional Distribution Grid Company Volga) was founded with the purpose of efficient management of the distributive electric power grid complex of Volga within the framework of implementation of the next (investment) stage of restructuring of RAO UES, JSC of Russia, during which the interregional distribution grid companies were broken into smaller units. The new configuration of IDGC was based on the principles of territorial association and comparability of the book value of assets of distribution grid companies (DGCs) being parts of relevant IDGCs. The authorized capital of IDGC of Volga, JSC, upon foundation thereof was equal to 10,000,000 rubles and was divided into 100,000,000 common registered stocks with the nominal value of 10 kopecks each. On December 25, 2007, the Extraordinary General Meeting of Stockholders of the Company (minutes No. 1795pr/8 of 25.12.2007) decided to reorganize the Company, in the form of joining of Volzhskaya IDC, JSC, Mordovenergo, JSC, Orenburgenergo, JSC, Penzaenergo, JSC, and Chuvashenergo, JSC thereto, and to approve the agreement on joining of the said companies to the Company.
The Extraordinary General Meeting of Stockholders of the Coimpany also decided to increase the Company's authorized capital through allotment of additional one hundred seventy eight billion five hundred fifteen million two hundred thousand (178,515,200,000) common stocks; method of allotment - conversion of the joined companies' stocks into additional common stocks of IDGC of Volga, JSC, according to the procedure stipulated by the Agreement on Joining.
On April 1, 2008, the reorganization of the Company, in the form of joining of five regional grid companies: Volzhskaya IDC, JSC, Mordovenergo, JSC, Orenburgenergo, JSC, Penzaenergo, JSC, Chuvashenergo, JSC thereto was completed. Volzhskaya IDC, JSC, Mordovenergo, JSC, Orenburgenergo, JSC, Penzaenergo, JSC, Chuvashenergo, JSC, which became parts of the structure of IDGC of Volga, JSC, as of April 1, 2008, terminated their activity as legal entities, and began to function as branches of IDGC of Volga, JSC: Mordovenergo, Orenburgenergo, Penzaenergo, Samara Distribution Grids, Saratov Distribution Grids, Ulyanovsk Distribution Grids, and Chuvashenergo.
At present, Rpsseti Vola, PJSC is a single operational Company, whose control center is located in the city of Saratov. The Company's activity is aimed at ensuring effective, uninterrupted and reliable power supply for consumers, elimination of any lack of capacity within the area of the Company's responsibility, growth of throughput capacity of grids, modernization and renovation of fixed assets.
On June 29, 2015 in accordance with the requirements of Chapter 4 of the Civil code of the Russian Federation by the decision of the Annual general meeting of shareholders the name of the Open Joint-stock company "Interregional Distribution Grid Company of Volga (IDGC of Volga") was changed to Public joint stock company "Interregional Distribution Grid Company of Volga" (PJSC "IDGC of Volga").
Since June 28, 2019, by the decision of the Board of Directors of the Company, it has joined the Unified Standard of Corporate Identity of PJSC Rosseti and Rosseti Group organizations and operates under the Rosseti Volga brand.
Since August 05, 2020, the name of the Public Joint Stock Company "Interregional Distribution Grid Company of Volga" (PJSC "IDGC of Volga") has been changed to the Public Joint Stock Company "Rosseti Volga" (PJSC "Rosseti Volga").