Page 104 - RusRPTJul20

ahead with its plans to organise a highly anticipated initial public offering​ (IPO), while aiming to ​remain profitable amidst the coronavirus (COVID-19) pandemic​. But now reportedly the company also considers buying out Uber's 38% stake in the JV, which was valued at $1.24bn in the end of March. However, any negotiations on the matter are at a very preliminary stage, the paper reports, citing its sources.
9.1.10 ​Utilities sector news
MinEnergo now expects a 3.5% y/y drop in electricity demand in 2Q20,
rather than the 5% y/y expected previously, suggesting that the FY20 decline will be not less than 2.2% y/y, while the reduction in net sendout and payments could be up to 8% y/y.
On 10 June, news media reported that the Ministry of Energy expects the modernisation auction for 2026, as well as the auction for 2GW capacity for 2026- 2028 with the localised turbines, are likely to be moved. ​The most recent expectations had been 1 July. At this stage, the System Operator reiterated that the applications for 2026 auctions will still be collected from 29 June to 1 July. The selection would require increasing the scale of project modernisation, abolishment of the government quota, as well as approval for additional selections with localised turbines.
9.1.11 ​Metallurgy & mining sector news
The largest US producer of phosphate fertilisers Mosaic has called for an investigation to levy a countervailing duty on imports from Morocco and Russia​, Bloomberg reports. Large volumes of unfairly subsidised imports from Morocco and Russia are causing harm to its operations, Mosaic said in its press release. The possible investigation could harm Russian phosphate
104​ RUSSIA Country Report​ July 2020 ​ ​www.intellinews.com