TEC evaluation experience
We value our experience. We enjoy our projects.
Having received accreditation in RAO EES Rossii from 2006 to the beginning of 2008, our Company, in numerous successful competitions as well as participating in evaluation consortiums, took an active role in evaluating energy industry assets during the modernization of the Russian electrical energy sector. Along with our practical participation in the reformation of the Russian electrical energy industry, our top specialists received special training for the evaluation of fuel-energy companies in specialized seminars held at Mintopenergo of Russia, the International Academy of Evaluation, VIPKenergo, the
The theoretical training also included the sharing of experience and professional knowledge with American specialists who organized working programs during informational-consultative seminars held in various educational organizations.
Discussions between the representatives of the oil company OAO Lukoil and the company SRG-Appraisal took place during the seminars, enabling them to share knowledge related to their work experience in this particular sphere.
The key speakers were:
- M.A. Kozodaev (Head of the Evaluation Department of the Administration of the Effectiveness of the Property Complex of OAO LUKOIL),
- Lans Dore (professor, leading lecturer at San-Diego Institute of Evaluation (
- A.G.Verlistov (Head of the Assets Evaluation Department of the Administration of Corporate Control of the Department of Corporate Property and Corporate Relations Management of OAO GAZPROM),
- V.A.Belov (Partner ZАО Deloitte & Touche СНГ).
Our Company has performed a great amount of work in evaluating the business costs of large and medium-sized Russian enterprises, and has adopted unique processes for evaluating companies in the energy sector, with such methods as follows:
- Generating enterprises: HES, HRES, TGC, OGC, TES (including closed power systems);
- Repair enterprises having resources for industrial repair and spare parts, warehouses for emergency equipment, and special material transports and tool sets;
- Distributional network companies;
- Operational-dispatcher departments functioning in operational zones;
- Sales companies;
- The evaluation of oil and gas wells.
The peculiarities of HEC
- The main difficulty while evaluating Russian energy assets is that this sector of the Russian economy is strictly regulated by the government, while energy companies abroad perform their work under the guidance of market principles, and that is why a direct comparison between the two should not be made;
- The capacity of funds;
- High wear and tear on the infrastructure;
- Lack of turnover costs;
- Strong need for investments;
- The problem of the record and usage of amortization deductions as a means of investment in energy complexes;
- Contemporary organizational-financial technologies in the energy sector and the problems associated with their realization in the modern Russian economy;
- The results of the re-evaluation of OS and the calculation of the depreciated cost of energy sector assets;
- Some peculiarities of the evaluation of intellectual property in the sphere of innovative technologies;
- Competitive advantages as well as drawbacks of companies in various sectors and regions;
- Structural specifics of oil and gas wells, problems and typical mistakes in the evaluation of gas and oil assets.
Skill
At the preparatory stage of the evaluation process we make a request for the most important information to be used while evaluating both the business and the assets of a fuel energy complex;
- Some practical aspects of the re-evaluation of the main fund of a power station were acquired;
- Numerous peculiarities when evaluating fuel-energy enterprises, including those created during the process of privatization, were highlighted and taken into consideration;
- The positions for the increase of effectiveness of HEC enterprise asset management were determined; this will help with the appropriate choice of methods for each particular case and assist in solving any and all necessary algorithms.
- A database focused on bargains in the Russian market was made, and the history and structure of foreign energy organizations was studied;
- The experience of western markets is used for decisive conclusions and algorithms during the process of evaluation;
- Familiarity and experience with the original methods of Deloitte & Touche;
- The use of instruments for the reduction of timeframes when performing difficult projects;
- The statistics of the effectiveness and appropriateness of various approaches while defining the market cost of energy related assets.
The results of our professional activity during the modernization of the Russian Electrical Power sector were the following events:
- The amount of the services provided for energy companies was 70% of the total amount of the projects; this bears witness to the active participation and input towards modernization;
- Absence of lawsuits against the Evaluation Organization from the Purchasers of the evaluation services as well as from the third parties whose interests are connected to the usage of the evaluation results, along with the decisions of the Courts to satisfy such lawsuits;
- Our projects have passed the detailed investigation of Rosimushchestvo and the Chief Advisor of RAO EES Rossii as well as Deloitte & Touche. Each project was presented and protected by the Committee of RAO EES Rossii;
- We continue active cooperation with energy companies of the RF;
- With the help of a specialist with the above-mentioned qualifications, our Company is getting ready to implement a full range of services necessary for solving more complicated tasks when modernizing businesses or providing procedures of Due Diligence.
