JSC IDGC of the North-West being the shareholder in subsidiaries and dependent entities, carries out its relations with the latter, governed by the requirements of the Russian laws, the Company's Articles of Association and internal documents, by Articles of Association and internal documents of the subsidiaries and dependent entities, which determine the order of the activity of Management Board and control bodies (Regulations on the Boards of Directors, Auditing Commissions and etc.).
Interests of the Company in activities of subsidiaries and dependent entities are realized in the development and implementation of the corporate governance policy which includes several areas, such as:
- formation of and control over the implementation of the strategy of subsidiaries and dependent entities development;
- planning of and control over financial results of subsidiaries' and dependent entities' activity, including the determination of directions and control of subsidiaries' and dependent entities' profit distribution;
- control over financial and business activities of subsidiaries and dependent entities including transactions making with the assets of subsidiaries and dependent entities;
- constant improvement of productivity of internal processes of subsidiaries and dependent entities in the sphere of business management;
- formation and implementation of the staff policy of subsidiaries and dependent entities.
Corporate governance of subsidiaries and dependent entities of JSC IDGC of the North-West is carried out through the system of management and control bodies in accordance with the Company's interests:
- the Board of Directors of JSC IDGC of the North-West;
- the Management Board of JSC IDGC of the North-West;
- the Board of Directors of subsidiaries and dependent entities;
- the Auditing Commission of subsidiaries and dependent entities.
Forms of corporate governance of subsidiaries and dependent entities
The Board of Directors approved the Procedure for Interaction of JSC IDGC of the North-West with organizations in which the Company participates.
This document was approved with the purpose of:
- ensuring a stable financial development, profitable operation of the Company, subsidiaries and dependent entities;
- ensuring compliance with the current legislation of the Russian Federation in the process of the Company's, subsidiaries' and dependent entities' activities;
- protecting the rights and lawful interests of shareholders of the Company, subsidiaries and dependent entities;
- increasing investment attractiveness of the Company, subsidiaries and dependent entities by guaranteeing their corporate transparency, balance and predictability of the corporate policy as a whole;
- harmonization of relations between the Company's, subsidiaries' and dependent entities' shareholders and officers, excluding occurrence of conflicts between them;
- creating conditions for balanced development of relations between energy organizations with organizations in other sectors of economy;
- development and implementation of a coordinated and effective investment policy of the Company, subsidiaries and dependent entities;
- improvement of interaction efficiency of subsidiaries and dependent entities in all areas of their activities;
- harmonization of relations between the Company, subsidiaries and dependent entities and the federal authorities, agencies of constituent entities and municipal authorities.
Subsidiaries and dependent entities engaged in energy selling and energy servicing activities
| Subsidiaries and dependent entities engaged in energy selling and energy servicing activities | Location of subsidiary or dependent entity | Main type of activity of subsidiary or dependent entity | Company's participation share in the capital of subsidiary or dependent entity (%) | Revenue* of subsidiary or dependent entity (thousand RUB) | Financial result of subsidiary or dependent entity (thousand RUB) |
|---|---|---|---|---|---|
| JSC Pskovenergosgent | Starotekstilnaya street, 32 Pskov Pskov Region | Activities of agents of electricity and heating energy (without production, transmission and distribution) | 100 | 238,156 | 795 |
| JSC Pskovenergosbyt | Zavodskaya street, 24 Pskov Pskov Region | Electric energy transmission | 100 | 3,860,796 | 2,698 |
| JSC Energoservice | Sobornaya street, 31 Gatchina Gatchina district Leningrad Region | Activities in the area of architecture; engineering project design; geological exploration and geophysical works, geodesic and cartographic activities; activities in the field of standardization and metrology; activities in the field of hydrometeorology and related areas; types of activity connected with resolving technical issues not included in other categories | 100 | 58,499 | (1,300) |
Information on subsidiaries and dependent entities carrying out other types of activity and on participation shares of JSC IDGC of the North-West in other organizations is laid out in Annex 12 to the Annual Report.
Information on management and control bodies of subsidiaries and dependent entities of JSC IDGC of the North-West is available on the Company's website at http://www.mrsksevzap.ru/about/dzo/.