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Gazprom ups stake in Moscow power utility to controlling interest

OAO Gazprom has increased its stake in Moscow's main power generator Mosenergo from 49.9% to 53.5%, the Russian energy giant said on Thursday.

OAO Gazprom said in a statement that the corresponding changes were made on December 4. Mosenergo, Russia’s largest territorial generating company supplying 80% of Moscow’s heating requirements and 85% of the capital and Moscow Region’s electricity, unites 17 electric power plants with electric power capacity of 10,600 MW and thermal generation capacity of 39,000 MW. Mosenergo posted a net profit of 1.524 billion rubles (about $58.2 million) in 2006. (Ria Novosty)