Oleg Deripaska’s companies are in legal battle with each other

Structures, controlled by Oleg Deripaska, have began to sort things out in court: Krasnoyarsk aluminum plant of US Rusal filled suit against Krasnoyarsk hydroelectric power station Evrosibenergo" The plant requires to reimburse 3.6 billion rubles of damage, caused by the termination of electricity supply under a bilateral agreement. The situation was brought to a court by a minority shareholder of UC Rusal - Sual of Viktor Vekselberg, who managed to pass the decision on filing a claim through the company’s Board of Directors. Under contracts with the hydroelectric power station the electricity cost the UC Rusal’s plant much cheaper, but after a sharp rise in energy prices in Siberia it becomes more and more profitable for Evrosibenergo to sell energy on the wholesale market.

On March 11, Rusal Krasnoyarsk aluminum plant (KrAZ, a part of UC Rusal, 48.13% owned by En + of Oleg Deripaska) submitted a lawsuit against Krasnoyarsk hydroelectric power station (88.9% are in En +’s Evrosibenergo) to the Commercial court of the Krasnoyarsk region, UC Rusal reported yesterday. According to the report, from October 2014, the hydroelectric power station didn’t comply fully obligations to deliver electricity and capacity to KrAZ under the bilateral agreement, signed in 2009 for a period of till 2020. Since mid-September, the station reduced the supplies to 35-37% of the required level, and since October it stopped them. KrAZ requires to compensate the damages in the amount of 3.64 billion rubles and to force the station to fulfill obligations. The plant also filed an application for interim measures, but their nature is not explained.

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