TIME OF ACHIEVEMENTS
TIME OF ACHIEVEMENTS
INTEGRATED ANNUAL REPORT
Integrated Annual Report 2023
A
ABOUT THE REPORT
ACHIEVEMENTS
This Integrated Annual Report (hereinafter, the «Annual Report», «Report») is prepared using information that was available to Public Joint-Stock Company Rosseti Volga (hereinafter, «Rosseti Volga, PJSC», «Rosseti Volga», the «Company») at the time of its preparation, and provides an overview of operating results and key events for 2023.
The Annual Report contains information on the Company's goals and priorities, its performance in the reporting year as compared to previous periods, the corporate governance and risk management systems, and its approaches to sustainability mana- gement, corporate and social responsibility. The information disclosed in the Annual Report, including financial and business indicators calculated basing on its accounting (financial) statements prepared under the Russian Accounting Standards (RAS), contains data on the activities of Rosseti Volga. The information in the Annual Report that contains the performance indicators of the consolidated financial statements prepared under the International Financial Reporting Standards (IFRS) includes data on the activities of Rosseti Volga Group of Companies.
For more details on the standards and recommendations on preparation of non-financial reports used by the Company, see the Report section «Information about the Report».
This report is intended for a wide range of stakeholders.
Some indicators specified in the tables, graphs, diagrams in this Annual Report may differ from the sum of summands as a result of rounding.
GRI 3-3
KEY TOPICS
Key topic of the Report is «Time of Achievements». Our goal is to show that Rosseti Volga implements the digital transformation program with absolutely new characteristics of reliability, effi- ciency, availability, controllability and customer centricity aimed at boosting the quality of services, mitigating the adverse effects on the environment and health, and improving the quality of life of residents in the regions serviced by the Company.
WHAT'S NEW IN THE REPORT
The Integrated Annual Report was prepared basing on UNCTAD Guidelines on key figures of the reports of enterprises on contribution to achieving sustainable development targets, SASB Standard for electric power companies, recommendations of the Bank of Russia concerning disclosure of non-financial information by public joint-stock companies in relation to activities of such companies, as well as guidelines of the Ministry of Economic Development of Russia for preparing the sustainable development reports.
DISCLAIMER
This Annual Report contains forward-looking statements that reflect the expectations of Rosseti Volga's management. These forward-looking statements are not based on any actual circumstances and are not guarantees of future performance. The Company shall not assume any liability for any losses that may be incurred by individuals or legal entities acting in reliance on these forward-looking statements. Such forward-looking statements in each specific case constitute only one of the few possible case scenarios and shall not be interpreted as the most probable scenarios.
TIME OF
Integrated Annual Report 2023
1
PRESENTATION PART
Strategic report
Performance results
CONTENT
AND NAVIGATION
1. PRESENTATION PART | 4 |
STATEMENTS OF CHIEF EXECUTIVES | |
OF THE COMPANY | 6 |
Statement of the Chairman | |
of the Board of Directors | 6 |
Statement of the General Director | 8 |
COMPANY SNAPSHOT | 10 |
KEY RESULTS AND EVENTS | |
OF THE REPORTING YEAR | 12 |
HISTORY OF THE COMPANY | 20 |
COMPANY'S GEOGRAPHIC REACH | 22 |
STRUCTURE OF THE COMPANY | 23 |
BUSINESS MODEL | 24 |
INNOVATIVE ACTIVITIES | 64 |
Innovation-driven development | 64 |
Key integrated innovative projects | |
and R&D projects | 67 |
Import substitution and interactions | |
with equipment manufacturers | 68 |
Digital transformation | 69 |
FINANCIAL AND ECONOMIC ACTIVITIES | 70 |
Financial results | 71 |
Credit ratings and bonded loans | 75 |
TARIFF POLICY | 76 |
Tariffs for electricity transmission services | 76 |
Charges for technological connection | 77 |
Power consumption and saving | 121 |
MANAGEMENT SYSTEMS | 123 |
PROCUREMENT ACTIVITY | 124 |
Regulatory control of procurement activity | 124 |
Procurement activity principles | 125 |
Purchasing structure | 125 |
Structure of purchases from small | |
and medium businesses | 127 |
ANTI-CORRUPTION POLICY | |
AND SAFETY OF ECONOMIC ACTIVITIES | 128 |
INTERACTION WITH STAKEHOLDERS | 134 |
INFORMATION DISCLOSURE | 138 |
5. CORPORATE GOVERNANCE |
COMPANY'S EXECUTIVE BODIES | 199 |
General Director of the Сompany | 199 |
Management Board | 200 |
SYSTEM OF REMUNERATION | |
FOR MANAGEMENT BODIES OF THE COMPANY | 207 |
PREVENTION OF CONFLICTS OF INTEREST | 211 |
RISK MANAGEMENT, INTERNAL CONTROL | |
AND INTERNAL AUDIT | 212 |
INTERNAL AUDIT COMMISSION OF THE COMPANY.... | 214 |
EXTERNAL AUDIT ORGANIZATION | 220 |
MANAGEMENT OF SUBSIDIARIES | 223 |
SHARE CAPITAL AND CIRCULATION | |
OF SECURITIES | 224 |
Structure of share capital | 224 |
TIME OF ACHIEVEMENTS
Sustainable development report
Corporate governance report
Additional information
2
2. STRATEGIC REPORT | 26 |
SECTOR OVERVIEW | 28 |
Market overview and competitive landscape | 28 |
Macroeconomic trends of the reporting year | 29 |
DEVELOPMENT STRATEGY | 30 |
Strategic objectives | 30 |
Definition and achievement of strategic priorities | 32 |
KEY PERFORMANCE INDICATORS | 35 |
KEY RISKS | 38 |
3. PERFORMANCE RESULTS | 44 |
OPERATING RESULTS | 46 |
Production activity results | 46 |
Technological connection | 49 |
Communications with service users | 51 |
Ancillary (non-tariff) services | 56 |
INVESTMENT ACTIVITIES | 58 |
Parameters of investment activities | 58 |
Areas and structure of financing | |
of capital investments | 59 |
Long-term investment program | 62 |
Managing the quality of capital construction | 63 |
4. SUSTAINABLE DEVELOPMENT | |
REPORT | 78 |
SUSTAINABLE DEVELOPMENT MANAGEMENT | 80 |
Sustainable development | 80 |
Contribution to achieving the UN sustainable | |
development goals | 82 |
ESG-ratings | 84 |
HUMAN RESOURCES | 86 |
Results of implementation | |
of the human resources policy | 86 |
Staffing level and structure | 87 |
Personnel training and development | 90 |
Employee remuneration system | 92 |
Youth policy | 94 |
Social policy | 96 |
Human rights | 99 |
OCCUPATIONAL HEALTH AND SAFETY | 102 |
Occupational health and safety | 102 |
Industrial safety | 111 |
ENVIRONMENTAL PROTECTION | 112 |
Environmental policy | 112 |
Climate change | 120 |
REPORT | 140 |
MEMORANDUM OF THE MAJORITY | |
SHAREHOLDER | 142 |
CORPORATE GOVERNANCE OVERVIEW | 144 |
Corporate governance structure | 145 |
Main changes in the area of corporate governance | 146 |
Plans for 2024 and the medium term period | 148 |
Assessment of the corporate governance level | 149 |
GENERAL MEETING OF SHAREHOLDERS | 154 |
BOARD OF DIRECTORS | 155 |
Composition of the Board of Directors | 156 |
Report of the Board of Directors | 166 |
Assessment of performance of the Board | |
of Directors | 172 |
COMMITTEES UNDER THE BOARD | |
OF DIRECTORS OF THE COMPANY | 174 |
Audit committee | 176 |
Committee for strategy | 181 |
Committee for reliability | 186 |
Personnel and awards committee | 190 |
Committee for technological connection | |
to electric grids | 194 |
CORPORATE SECRETARY | 198 |
Trading in securities - key figures | 226 |
Distribution of profit and dividend policy | 228 |
Communication with shareholders | |
and investors | 229 |
6. ADDITIONAL INFORMATION | 230 |
INFORMATION ABOUT THE REPORT | 232 |
STANDARD COMPLIANCE TABLES | 236 |
CONTACT INFORMATION | 244 |
GLOSSARY AND ABBREVIATIONS | 246 |
APPENDIXES | |
APPENDIX 1. Report on compliance with | |
principles and recommendations of the corporate | |
governance code of the Bank of Russia | 248 |
APPENDIX 2. Report on related party | |
transactions made by Rosseti Volga, PJSC in 2023... | 276 |
APPENDIX 2.1. Information about major | |
transactions concluded by Rosseti Volga, PJSC | |
in 2023 | 282 |
Integrated Annual Report 2023
3
PRESENTATIONPART1
Strategicreport
Performance results
Sustainable development report
Corporate governance report
Additional information
PRESENTATION PART
Power transmission lines | |
Headcount: | with the overall mileage of |
19.8 | 236.5 |
thousand employees | thousand km |
Number of | Capacity of |
substations: | substations |
52.7 | 37.76 |
thousand pcs | thousand MVA |
TIME OF ACHIEVEMENTS
Integrated Annual Report 2023
4 | 5 |
PRESENTATION PART
Strategic report
Performance results
Sustainable development report
Corporate governance report
STATEMENTS OF CHIEF EXECUTIVES OF THE COMPANY
GRI 2-22
STATEMENT OF THE CHAIRMAN
OF THE BOARD OF DIRECTORS
Dear shareholders, investors, and partners!
In 2023, Rosseti Volga, PJSC was committed to improving the quality of management in all business areas of the Company.
The Company implemented the production programs in full, increased the power supply reliability indicators, pursued its efforts to level up the availability of the power infrastructure and to develop the customer services. The consistent efforts to control the costs and increase the cost effectiveness contributed to a stable operation of the Company and achievement of significant financial, business and operational results.
In December 2023, ACRA (JSC) confirmed the AA+(RU) national scale credit rating (with «Stable» outlook) for Rosseti Volga, PJSC, which is an indication of solid credit standing of the Company.
Due to the continuous efforts to ensure a stable operation and modernization of the power grid complex and to renovate the production assets, the Company fulfilled its obligations to the shareholders, investors, customers and partners of Rosseti Volga.
The corporate governance system plays an important role in implementation of strategic tasks. Corporate governance is an integral part of the strategy of sustainable development of Rosseti Volga, PJSC. Therefore, one of the priorities of the Company is a continuing improvement of the corporate governance system.
The Company's openness and focus on the best standards are confirmed by NRCG 7 rating («Developed Corporate Governance Practice») assigned to Rosseti Volga, PJSC according to the national corporate governance rating scale (NCGR®). This rating means that the Company has a high level of management and low risks of owners' losses due to the quality of corporate governance. High result was achieved through strict compliance with Russian laws and ongoing efforts to improve the corporate governance based on such principles as reliability, transparency, accountability of management bodies, efficiency, and customer centricity.
At the end of the reporting period, capitalization of Rosseti Volga, PJSC increased by 108 % and exceeded 10.4 billion rubles.
In the reporting period, the Annual Report of Rosseti Volga, PJSC for 2022 was named second best report in the category called «Best Disclosure of Corporate Governance Information» at the XXVI Annual Contest of Annual Reports of the Moscow Exchange. In addition, the Annual Report of the Company was awarded five stars (high- est rating) for the best quality of annual reports of non- financial and financial companies by RAEX Rating Agency (RAEX-Analytics).
Throughout the reporting period, the Board of Directors and management of the Company, guided by high corporate governance standards, dealt with shareholders, business community and investors in an efficient manner.
Permanent priorities in communication with consumers, shareholders and partners of Rosseti Volga, PJSC are openness, professionalism, and responsibility. I would like to express my gratitude to the members of the Board of Directors and management of the Company for well-coordinated and task-oriented work performed last year.
Best regards,
Chairman of the Board of Directors of Rosseti Volga, PJSC
A. V. Molsky
TIME OF ACHIEVEMENTS
Additional information
6
>10.4 | NRCG 7 |
billion rubles | «Developed Corporate |
Capitalization | Governance Practice» |
Integrated Annual Report 2023
7
PRESENTATION PART
Strategic report
Performance results
Sustainable development report
Corporate governance report
STATEMENT OF THE GENERAL DIRECTOR
Dear shareholders, investors, customers, and partners!
In 2023, Rosseti Volga, PJSC successfully provided uninterrupted power supply to consumers in seven regions of the Volga Federal District. This is a strategic goal of the Company. The development of the power grid infrastructure was perfectly in sync with today's social and economic trends of the entities, and accommodated their electricity demands at a rapid pace.
Due to a high professionalism of the Company's management and personnel, and to control measures taken by the Board of Directors, the Company managed to upgrade and build electric power facilities, reduce electric line power losses and perform technological connection of new consumers at a totally new level. This became a driver of improvement of the Company's financial and economic indicators.
The Company achieved key results of the production and business activities despite the volatility of the equipment and material market under challenging macroeconomic conditions. In 2023, the profit exceeded 2.32 billion rubles, and the Company gained a high level of financial solvency and independence. The Company implemented the production programs in full. The Company achieved the planned reliability indicators and proceeded with the consistent development of the power grid infrastructure.
According to operations of Rosseti Volga, PJSC in 2023, the grid power supply to consumers and associated grid operators in accordance with delineation of balance sheet attribution and operational responsibilities amounted to 49,523.9 million kWh, which was by 456.5 million kWh more than in 2022. As compared to the same period of the previous year, the grid output increased by 0.63 %, and power losses decreased by 128.32 million kWh.
Due to effective implementation of the production pro- grams, the Company successfully prepared to operate during the autumn-winter season. The budget of the technical maintenance and repair program for 2023 exceeded
5.1 billion rubles that was higher than the target indicators by 837.9 million rubles.
The Company implemented the investment program that included reconstruction and technical upgrading of power grid facilities. The budget of measures provided for by the program exceeded 9.8 billion rubles. The capacity of 127 MVA was commissioned during the year. The major facilities include: construction of electrical feeders from 110 kV power transmission line to 110/6 kV Zapadnaya substation in order to level up reliability of power supply to consumers in Saratov; commissioning of the first stage of reconstruction of 110 kV Tsentralnaya-Podlesnoye overhead transmission line in the Saratov region; and completion of reconstruction of 110 kV Svetlaya substation in Chuvashia.
The Company makes a significant contribution to implementation of the national and regional development proj- ects. The Company performed technological connection of health care institutions, motor road infrastructure,
residential buildings, social and communications facilities, street lighting facilities, etc. The Company connected a new section of Penza Oncology Center to the power grids 4 months ahead of the schedule. A significant stage of alteration of the overhead transmission lines routed along the Tolyatti bypass road with the Volga river crossing under construction as a part of the Europe - Western China international highway was completed. The Company supplied power to the site of the startup facility of the Data Processing Center, Russia's largest data center in Balakovo, the Saratov region.
To promote the customer-oriented approach, the Company extensively developed new customer services and expanded a range of additional (non-tariff) services for consumers in 2023. As compared to 2022, the revenue from Repair and Maintenance Services increased by 26.3 % and amounted to 87.3 million rubles; the revenue from Construction and Assembly Works, including Turnkey Technological Connection, increased by 357.3 % (162.8 million rubles), and the revenue from Consultancy, Technical and Organizational Services increased by 101.7 % (58.1 million rubles).
Considering the Company's performance and available trends, it may safely be said that in 2024, the Company will keep developing as an effective, customer-centric and socially responsible company that guarantees fulfillment of all its obligations. Rosseti Volga, PJSC has a necessary potential and resources for further development powered by the shareholders and the Board of Directors.
Best regards,
General Director of
Rosseti Volga, PJSC
A. I. Gavrilov
TIME OF ACHIEVEMENTS
Additional information
8
>2.32 | >9.8 |
billion rubles | billion rubles |
Net profit | The investment program budget |
Integrated Annual Report 2023
9
PRESENTATION PART
COMPANY SNAPSHOT
GRI 2-1,IF-EU-000.C
The Company of Highly Skilled Specialists
AUTHORIZED CAPITAL
18,830,795,873.28
rubles
Par value: 0.10 rubles
MAJOR SHAREHOLDER
68.47
%
Rosseti, PJSC
OF ACHIEVEMENTS
Strategic report
MISSION OF THE COMPANY
is to effectively use the distribution grid assets of the Company, maintain their reliability and raise investment resources for the benefit of each shareholder and the Company in general
PRODUCTION CAPABILITIES
Substations | Transformer substations | Power transmission lines |
35-220 kV | 6-10/0.4 kV | 0.4-220 kV |
1,706 pcs | 51,037 pcs | 236,458.33 km |
with capacity | with installed capacity | the overall mileage |
TIME
Performance results
Today, Rosseti Volga, PJSC is a modern, innovative, successfully and dynamically growing Company holding a dominant position
28,727.27 МВА | 9,033.44 MVA |
Sustainable development report
on the power supply market in seven regions of the Volga Federal District of the Russian Federation where it operates:
1 | The Saratov region | 5 | The Ulyanovsk region |
2 | The Samara region | 6 | The Chuvash Republic |
3 | The Orenburg region | 7 | The Republic of Mordovia |
393.5thousand square km
Overall service area
HEADCOUNT
19.8
thousand employees
MANAGEMENT SYSTEMS
of the Company meet the
following international and national standards:
ISO 9001 (GOST R ISO 9001)
ISO 50001 (GOST R ISO 50001)
ISO 14001 (GOST R ISO 14001)
Corporate governance report
4 The Penza region
Headquarters:
Saratov
Core activities of the Company:
>11million people
Population
Rosseti Volga, PJSC is a holder of natural monopolies regulated by the government and controlled by setting tariffs for electricity transmission services and technological connection of consumers to the Company's power grids.
From practical experience of Rosseti Volga
Annual Report of Rosseti Volga, PJSC for 2022 was awarded:
five stars for the best quality.
The Annual Report of Rosseti Volga,
Additional information
10
ELECTRICITY TRANSMISSION | OPERATIONS AND | TECHNOLOGICAL CONNECTION | ||
of power receivers (power systems) | ||||
SERVICES | PROCESS MANAGEMENT | of legal entities and individuals to | ||
power girds | ||||
RAEX Rating Agency (RAEX-Analytics), a largest non-credit rating agency, published ratings of annual reports prepared by non-financial and financial companies. The rating of corporate annual reports includes documents provided by 80 organizations from 24 sectors. The presentation of the rating took place on November 22, 2023 at the ХХ Annual Practical Conference «Annual Reports: Leaders' Expe- rience». The reports were ranked at a five-point scale where «five stars» was the highest quality of the annual report.
PJSC for 2022 was named second best report in the category called «Best Disclosure of Corporate Governance Information» at the XXVI Annual Contest of Annual Reports of the Moscow Exchange.
Integrated Annual Report 2023
11
PRESENTATION PART
KEY RESULTS AND EVENTS OF THE REPORTING YEAR
Key events of the reporting year
1 | 2 | 3 |
ACHIEVEMENTS
Strategic report
OPERATING ACTIVITIES
Reliable power supply to consumers
Dynamics of capacity commissioning
April
The Company launched a new stage of alteration of the overhead transmission line as a part of construction of the Volga bridge and Tolyatti Bypass road.
July
Rosseti Volga, PJSC supplied power to the construction site of the Russia's largest data center in Balakovo, the Saratov re- gion. To commission the startup complex of the Data Processing Center, the power
August
The power engineers of Samara Distribution Grids, a branch of Rosseti Volga, PJSC, completed a significant stage of alteration of the overhead transmission lines routed along the Tolyatti bypass
TIME OF
2021 | 233,905.2 | |
2022 | ||
235,257.3 | ||
2023 | ||
236,458.3 | ||
2021 | 37.3 | |
2022 | ||
37.41 | ||
2023 | ||
37.76 | ||
engineers routed four 10 kV doubled cable power transmission lines. Maximum connected capacity totaled 26 MW.
road with the Volga river crossing under construction as a part of the Europe - Western China international highway.
Performance
Capacity of substations (substations, transformer substations, distribution substations), thousand MVA
Total length of power transmission lines by circuits, km
45
results
Sustainable development report
Technological connection | ||||
2021 | ||||
853,231.3 | ||||
2022 | ||||
671,674.8 | ||||
2023 | ||||
622,390.5 | ||||
Concluded technological connection agreements, kW
2021 | 18,713 | ||
2022 | |||
19,010 | |||
2023 | |||
16,877 | |||
Implemented technological connection agreements, pcs
September
Saratov Distribution Grids, a branch of Rosseti Volga, PJSC, connected oil industry facilities to the power grids in the Dukhovnitsky district, the Saratov region.
December
Mikhail Torgashin, Deputy Chairman of the Government of the Saratov region - Minister of Industry and Energy of the region, and Aleksandr Gavrilov, General Director of Rosseti Volga, PJSC, launched a new power facility - a transitional point and new sections of the cable overhead transmission line. This new power grid facility boosted reliability of power supply in Saratov.
Dynamics of power output and losses in power grids of Rosseti Volga, million kWh
Corporate governance report
Additional information
12
2021 | 49,719 | ||||||||||||
52,784 | |||||||||||||
2022 | 49,067 | ||||||||||||
52,089 | |||||||||||||
2023 | 49,524 | ||||||||||||
52,417 | |||||||||||||
Electricity supply to consumers, | Grid output, million kWh | ||||||||||||
million kWh | |||||||||||||
Customer satisfaction (five-point scale) | |||||||||||||
2021 | |||||||||||||
4.7 | |||||||||||||
2022 | |||||||||||||
4.6 | |||||||||||||
2023 | |||||||||||||
4.8 | |||||||||||||
2021 | 5.81 | ||
2022 | |||
5.80 | |||
2023 | |||
5.52 | |||
Power losses, %
Reduction by
1.2%
of per-unit accident rate at the facilities of Rosseti Volga in 2023
Integrated Annual Report 2023
13
PRESENTATION PART
FINANCIAL ACTIVITIES
Persistently high financial efficiency under changing economic conditions
UNCTAD A.1.1, А.2.1
DIGITALIZATION AND INNOVATIVE DEVELOPMENT
Reduction of costs and improvement of reliability due to consistent integration of innovative solutions
UNCTAD А.2.1
ACHIEVEMENTS
Strategic report
Revenue, million rubles | Cost of products (services), million rubles | ||||||||
2021 | 2021 | ||||||||
64,817.10 | 63,279.4 | ||||||||
2022 | 2022 | ||||||||
66,618.50 | 65,275.0 | ||||||||
2023 | 2023 | ||||||||
76,810.20 | 71,592.1 | ||||||||
Labor efficiency, c. u. / person | Tax and insurance payments to budget, million rubles |
Share of substations with the voltage of 35 kV and over equipped with state-of-the-art digital systems of data collection and management, %
2021 | 28.7 | ||
2022 | |||
29.2 | |||
2023 | |||
29.6 | |||
Dynamics of R&D financing, million rubles
2021 | 32.64 | |
2022 | ||
34.17 | ||
2023 |
38.55
Length of optical fiber communication lines, thousand km
2021 | 5.99 | ||
2022 | |||
6.29 | |||
2023 | |||
6.36 | |||
TIME OF
Performance results
Sustainable development report
report
2021 | 65.9 | 2021 | 8,707 | |||
2022 | 2022 | |||||
67.9 | 8,361 | |||||
2023 | 2023 | |||||
70.2 | 12,298 | |||||
Reduction by | |
7.9% | of operating expenses in 2023 |
as compared to 2022 |
Key events of the reporting year
1
By | By | |
0.4% | 0.07thousand km | |
increased share of substations equipped | increased length of optical fiber | |
with state-of-the-art digital systems of | communication lines of | |
data collection and management | Rosseti Volga |
Key events of the reporting year
1 | 2 | 3 |
Corporate governance
Additional information
14
June
In Saransk, the Government of the Republic of Mordovia and Rosseti Volga, PJSC entered into a long-term agreement for tariff regulation in the power grid complex of the Republic of Mordovia. According to the document, the parties strive to create a favorable investment climate in the republic and to enhance reliability of power supply to the regional consumers.
June
Orenburgenergo, a branch of Rosseti Volga, PJSC, completed the upgrading project at 110 kV Krasnokholmskaya substation in the Orenburg city district.
October
The payroll program of Rosseti Volga took the first place at the contest «1C: Project of the Year». The project of the improved subsystem «Payroll and HR Manage- ment» of AEMS was named the best in the Electric Power Industry sector in the category «Payroll, HR Management and Accounting (HRM)».
December
In Cheboksary, a reconstructed 110 kV Svetlaya substation was put into opera- tion. The ceremonial launch was attended by Oleg Nikolayev, Head of the Chuvash Republic, Aleksandr Gavrilov, General Director of Rosseti Volga, PJSC, and members of the Government of the republic.
Integrated Annual Report 2023
15
PRESENTATION PART
CORPORATE GOVERNANCE PRACTICE AND INVESTMENT ATTRACTIVENESS
Use of the best corporate governance practices and improvement of investment attractiveness
Ratings of the Company
Corporate governance rating of the Company
ACHIEVEMENTS
Strategic report
CAPITALIZATION
10,432
million rubles
as of December 31, 2023
FREE-FLOAT
20.09
%
Share of floating securities
NRCG 7
«Developed Corporate Governance Practice»
Valid till December 27, 2024
TIME OF
Performance results
Sustainable development report
Dynamics of cost of Issuer's shares, MICEX and MICEX PWR indices
220.00 % |
200.00 % |
180.00 % |
160.00 % |
140.00 % |
120.00 % |
107.88 % |
100.00 % |
80.00 % |
60.00 % |
Credit rating of the Company
АА+(RU)
«Stable» outlook
86%
Level of full or partial adherence to principles and recommendations of the Corporate Governance Code of the Bank of Russia
Corporate governance report
Additional information
16
40.00 % | 43.87 % | |||||||||||||||||||||||||||||||||||
32.87 % | ||||||||||||||||||||||||||||||||||||
20.00 % | ||||||||||||||||||||||||||||||||||||
0.00 % | ||||||||||||||||||||||||||||||||||||
-20 % | ||||||||||||||||||||||||||||||||||||
03.01.2023 | 13.01.2023 | 23.01.2023 | 02.02.2023 | 12.02.2023 | 22.02.2023 | 04.03.2023 | 14.03.2023 | 24.03.2023 | 03.04.2023 | 13.04.2023 | 23.04.2023 | 03.05.2023 | 13.05.2023 | 23.05.2023 | 02.06.2023 | 12.06.2023 | 22.06.2023 | 02.07.2023 | 12.07.2023 | 22.07.2023 | 01.08.2023 | 11.08.2023 | 21.08.2023 | 31.08.2023 | 10.09.2023 | 20.09.2023 | 30.09.2023 | 10.10.2023 | 20.10.2023 | 30.10.2023 | 09.11.2023 | 19.11.2023 | 29.11.2023 | 09.12.2023 | 19.12.2023 | 29.12.2023 |
Capitalization of Rosseti Volga, PJSC | Index of the Moscow Exchange | Electric Utilities Index | ||
Pursuant to the requirements of laws, Moscow Exchange Listing Rules, and nationally and internationally recognized corporate governance standards, the Company makes timely changes to the corporate governance practice and ensures high efficiency of managerial decisions. Rosseti Volga assesses the corporate governance system and refers the assessment results to the Board of Directors (or competent Committee) for consideration on a regular basis.
Structure of the Board of Directors | Length of employment as members of the Board |
as of 31.12.2023 | of Directors as of 31.12.2023 |
1 | |
2 | 5 |
5 |
8 | 1 | ||||
Non-Executive Directors | Less than 1 year | ||||
Independent Directors | 1-2 years | ||||
Executive Directors | Over 2 years | ||||
Integrated Annual Report 2023
17