Open Joint-Stock Company Interregional Distribution Grid Company of Urals (shortly named as IDGC of Urals) was incorporated on February 28, 2005 in Yekaterinburg (the Urals Federal District) during the energy sector reforms in Russia. The reform has splitted firms dealing with production, transfer, distribution and sale of electric and thermal energy and dispatcher management into separate business units.
The baseline scenario of the reform supposed incorporation of interregional distribution grid companies (IDGCs) and amalgamation of regional distribution companies into IDGCs within the energy systems. To enhance operational efficiency and grid reliability and upgrade the Urals and Middle Volga grids the first configuration consolidated the following 15 regional grid companies under one interregional company:
Until August 2007 OAO IDGC of Urals and Volga was the Company's name. The second configuration was shaped in compliance with territorial contingency and corresponding balance cost of grid assets comprising IDGCs. Under the configuration OAO IDGC of Urals consisted of OAO Sverdlovenergo, OAO Chelyabenergo, OAO Permenergo and OAO Kurganenergo. In August 2007, triggered by amended configuration, we revised our foundation documents and renamed the Company as Open Joint-Stock Company Interregional Distribution Grid Company of Urals.
In December 2007 the Federal Antimonopoly Service of Russia approved the restructuring of the Company in the form of the merger of OAO Sverdlovenergo, OAO Chelyabenergo, OAO Permenergo and OAO Kurganenergo. Also in December 2007, to convert the shares of the merged companies, the IDGC of Urals' Extraordinary General Meeting decided to issue additional ordinary shares and increase the Company's charter capital. The shares were placed by converting shares of the merged companies into them. In January 2008 the EGMs of OAO Sverdlovenergo, OAO Chelyabenergo, OAO Permenergo voted for the restructuring in the form of the merger and also approved the merger agreement and transfer act. OAO Kurganenergo was also in our service area, but since its shareholders did not approve the merger, OAO IDGC of Urals became Kurganenergo's holding company.
The reform ended on April 30, 2008 when discontinuation of activities of OAO Sverdlovenergo, OAO Chelyabenergo, OAO Permenergo as a result of the merger into OAO IDGC of Urals was introduced to the United State Register of Legal Entities. These merged companies became branches of OAO IDGC of Urals. In November 2012 OAO IDGC of Urals sold its stake in OAO Kurganenergo.
Now OAO IDGC of Urals is the largest Urals grid operator providing transmission and connection services in the Sverdlovsk, Chelyabinsk and Perm regions.