4.3. Features of regulation natural monopolijv Russia.

as it has already been noted, in Russia natural monopolies began to be formed in the mid-nineties when the law «About natural monopolies» has taken effect. Natural monopolies in Russia are the enterprises which are in the state or mixed property.
A modern line on development and reforming of natural monopolies in Russia is preservation mainly to a state ownership in the given sector of economic activities which allows to carry out the control over financial streams through representation in board of directors, management of the companies of natural monopolies.
The enterprises of natural monopolies for Russia and for the majority of subjects of the Russian Federation are sistsmo - and bjudzhetoobrazujushchimi. At the same time, owing to significant wear of the basic production assets natural monopolies require attraction of large-scale investments into their modernisation.
According to the federal law «About natural monopolies» to spheres of action of natural monopolies in Russia concern: transportation of petroleum and petroleum on the main pipelines; gas transportation on pipelines; rail transportation; services of transport terminals, ports, the airports; services popular electric and postal service; services in transfer of electric energy; services in thermal energy transfers.
In all legalised lines of business of natural monopolies bodies of regulation of natural monopolies are formed. One federal enforcement authority can regulate at once some lines of business of natural monopolies and at all
Necessarily in each sphere to have separate body. For realisation of the authorities they have the right to create the territorial bodies and to allocate with their authorities within the competence. Territorial bodies form with the permission of the Government of the Russian Federation and form together with corresponding federal body uniform system of regulation in corresponding sphere of natural monopoly.
One of the first regulating bodies in Russia had been formed the Federal power commission (FEK the Russian Federation). It has been formed according to the decree of the President of the Russian Federation from November, 19th, 1995 № 1194 as federal enforcement authority on regulation of natural monopolies in following spheres: transportation of petroleum and petroleum on the main pipelines; services in transfer electric and thermal energy.
The decree of the President of the Russian Federation from January, 25th, 1996 № 96 had been formed Federal service of the Russian Federation on regulation of natural monopolies in the field of communication (FSEMS Russia).
Last under the account had been formed Federal service of the Russian Federation on regulation of natural monopolies on transport (FSEMT the Russian Federation). It had the status of federal enforcement authority on regulation of natural monopolies in following spheres: rail transportation; services of transport terminals, ports, the airports.
According to the Decree of the President of the Russian Federation from September, 22nd, 1998 № 1142 «About structure of federal enforcement authorities» Federal service on regulation of natural monopolies in the field of communication and Federal service of Russia on regulation of natural monopolies on transport have been abolished. Their functions have been transmitted again formed Ministry of the Russian Federation of an antimonopoly policy and business support.
To this ministry have passed also functions of the Russian Federations abolished the State committee on support and development
Small business, and also the State antimonopoly committee of the Russian Federation.
Now unique specialised body of state regulation in Russia is the Federal power commission which attends to regulation of natural monopolies in thermal power station branches. It has a wide spectrum of authorities and executes the majority reguljativnyh, control and consulting functions. For the purpose of working out of the balanced interbranch approach to pricing on production (services) of natural monopolies work on creation of Uniform tariff body on the basis of the Federal power commission in which structure formation of two directions is supposed is conducted: on problems of thermal power station and on transport problems. The uniform tariff body should carry out the co-ordinated tariff policy in branches of natural monopolies for the purpose of achievement of balance of economic interests of manufacturers and consumers of production and the services realised by subjects of natural monopolies.
Bodies of regulation of natural monopolies, according to the law «About natural monopolies» execute following functions:
Form and conduct the register of objects of natural monopolies in which relation the state regulation and the control are carried out;
Define regulation methods with reference to the concrete subject of natural monopoly;
Supervise law fulfilment «About natural monopolies» and make offers on perfection of the legislation on natural monopolies.
However, in the law «About natural monopolies» it is told nothing about the one who establishes an order of management the register of subjects of natural monopolies. Anything about it it is not told and in positions about the separate
The federal enforcement authorities which are carrying out regulation of activity of subjects of natural monopolies. And meanwhile, inclusion in the register is result of difficult work. Errors here should be completely excluded, as they can cause unlawful restrictions of activity of the managing subject, not so not concerning natural monopolies.
Probably the order of management the register should be established to bodies of regulation of activity of natural monopolies. As the subject of natural monopoly, as a rule, makes not only sstestvennoomonopolnye the goods, and carries out also other enterprise activity in the register in any case should be precisely indicated to what particularly kind of its economic activities is subject to state regulation and the control.
In order to avoid errors and their negative consequences important observance of the established procedures of consideration of questions of introduction, change or the termination of regulation of the subject of natural monopoly. The subject of natural monopoly should be notified in advance on date of consideration of its business. By consideration by body of regulation of natural monopoly of questions of introduction, change or the termination of regulation of the subject of natural monopoly, the representative of the given subject of natural monopoly, and also the person who have made the offer on introduction, change or the termination of regulation of activity of natural monopoly has the right to be present. At the decision of these questions independent economic examination can be conducted.
According to the legislation, bodies of regulation of natural monopolies carry out the control for:
- Any bargains in which result the subject of natural monopoly acquires the property right to permanent assets and the right of use of the permanent assets which have been not intended for production
(Realisations) of the goods if the book value of such permanent assets exceeds 10 % of cost of an ownership capital of the subject of natural monopoly on last confirmed balance;
Investments of the subject of natural monopoly into production (realisation) of the goods which make more than 10 % of cost of an ownership capital of the subject of natural monopoly;
Sale, leasing or other bargain in which result the managing subject acquires the property right or possession and (or) uses of a part of permanent assets of the subject of the natural monopoly, the goods intended for production (realisation) if the book value of such permanent assets exceeds 10 % of cost of an ownership capital of the subject of natural monopoly.
Within the granted competence bodies of regulation of natural monopolies carry out function of the control over observance of the federal law «About natural monopolies». In other part activity of subjects of natural monopolies is under control to federal antimonopoly bodies. If the subject of natural monopoly has a share in the market of the goods more than 35 % it, besides the register which conducts on it body of regulation of natural monopolies, joins also in the corresponding register of managing subjects which are at federal antimonopoly bodies.
To Russia natural monopolies are built in the rigid vertically integrated structure of the market uniting in a uniform cycle production, transfer, distribution and production sales, presented by the largest monopolists-giants of the Russian Open Society "United Power Systems", Russian Open Society "Gazprom", etc. which already long time dominate in the market. Such character of vertically integrated structures has developed with allowance for regionalno-climatic, social and economic (the heritage is command - a management system, specificity of conditions of formation of the market
Relations) and legal (absence of the developed market institutes) features of development of Russia.
So, in the Russian electric power industry the natural monopoly has developed historically. The network transmitting energy by the nature is intended to be exclusive. The competitiveness here is economically senseless, since would mean a universal structure of the several expensive networks parallel one another intended for fulfilment literally of the same services and differing from each other only by that they belong to different managing subjects.
The electric power market is structurally vertically integrated and assumes four kinds of activity: generating, transfer, distribution and electric power delivery. Naturally exclusive lines electric power transfer on networks of a high voltage and distribution on the low-voltage has.
In the beginning of 90th, namely in November, 1992, in Russia have been united capacities over 700 power stations (HYDROELECTRIC POWER STATION, a state district power station, thermal power station) and the new joint-stock company - the Russian Open Society "United Power Systems" formation of the wholesale market of the electric power was which purpose is formed. In federal possession of the Russian Open Society "United Power Systems" has acted about 50 newest power stations (it more than half of general capacities), introduced of structure territorial energo.
Now in capital structure of the Russian Open Society "United Power Systems" the state posesses 52,6 % of shares, on a share of foreign investors 30,7 % are necessary. The Russian Open Society "United Power Systems" supervises 77,7 % of total capacity of power stations of the country. The company consists of 72 regional joint-stock companies-energo. In the capital 53 of them the Russian Open Society has 50 and more percent of shares, in the others - less than 50 %. Company Main funds are evaluated in 400 bln. dollars, market capitalisation of holding makes about 13 bln. dollars Possessing mostly power capacities, the Russian Open Society "United Power Systems" is the proprietor of all network of electric mains of the country.
Russian Open Society "Gazprom" concerns number of the largest natural monopolies in Russia. It has been formed by transformation of the State gas concern in February, 1993 In 1999 it has been transformed to Open Society "Gazprom" according to requests of the legislation on joint-stock companies. On its share it is necessary about 25 % of all receipts in the federal budget. "Gazprom" - the largest creditor of the Russian economy. Open Society "Gazprom" belongs about 30 % of the European gas market (21 % of deliveries in the Western and 56 % to the Eastern Europe). Abroad it possesses huge assets, basically in the form of shares in the companies possessing gas-transport and gazoraspredelitelnymi systems. "Gazprom" includes 8 gas associations and 13 regional gas-transport enterprises, and also external economic enterprise "Газэкспорт". They carry out about 95 % of extraction and 100 % of transportation of gas.
Uniqueness of resource base and availability of the developed system of gas pipelines defines stability of items of "Gazprom" in the world market. In creation of uniform system of gas supply Russia has advanced countries of Western Europe where the similar system only starts to be formed. "Gazprom" has created a number of alliances with the largest western corporations, allowed to unite technological, financial and scientifically - technical potential of the companies. So, association with group "Wmtershall" (concern "BASF" branch) gives the chance to "Gazprom" to supervise to 10 % of the market of Germany with prospect of increase in this share.
Entering into system "Gazprom" both large, and less significant enterprises actually remain its industrial divisions, they are not proprietors the assets, including the rights on nedropolzovanie, the incomes. From the legal point of view are the unitary enterprises founded by Open Society and based on the right of an operational administration.
Natural monopoly in this case is gas transportation. This kind of activity is vertically integrated into structure of the gas industry which is similar to electric power industry branch. The gas industry represents the uniform cycle uniting: an industrial stage - a gas production; transfer - gas transportation on the main pipelines under a high pressure; distribution - transportation on networks of the local distributive companies under low pressure; delivery of gas to end users. Thus extraction and gas delivery are potentially competitive sectors, and transportation and gas distribution represent natural monopoly.
The railway transportation concerns number of natural monopolies in Russia also. On a share of railways it is necessary about 77 % of freight turnover of all types of transport of the general use of the country and 45 % of a passenger turnover that is comparable on volumes to automobile carriages.
In Russia indicators of productivity of the Russian railways evaluated by quantity of kilometre-tons, falling to one taken on carriages, to 2,5-3 times above, than in England, France, Germany and China. Thus time of a turn-over of cars in our country in 2-3 times is less, than in the USA, despite the big distances of carriages. In the Western Europe railways are unprofitable. Their losses reach 50 % and are compensated by the state grants. In Russia passenger transport losses are covered at the expense of work cargo, and railways as a whole work with profit, thus, that an average railroad rate in Russia at 8-10 time more low, than in the western countries.
In the Russian practice transportation of petroleum and petroleum on the main pipelines is completely natural monopoly and is regulated according to the general legislation «About natural monopolies».
The petrotransport system is the integrated system which, as a rule, includes a network of the main oil pipelines, rezervuarnyh parks, items naliva, plum and petroleum crossings.
Having lines of natural monopoly, petroleum transportation on the main oil pipelines assumes creation of technological and economic structure with a centralised direction goods traffics of pumped over petroleum, maintenance of technical operation of objects, their diagnosing and overhaul, and also modernisation and reconstruction. The network structure of system, high concentration of capacities on the basic directions of swapping, a centralised direction allows to supply with movement of streams of petroleum reliably delivery of petroleum to internal oil refining factories in the country and for export.
The system of the main oil pipelines of Russia executes a role of the basic transport infrastructure of the petroleum market. Now syo effective functioning is supplied as the uniform enterprise on behalf of Open Society "АК" Transneft », co-ordinating functioning of the affiliated territorial enterprises. Activity on petroleum transportation on the main oil pipelines is completely supervised by the state by means of price-fixing (tariffs) for transportation services the Federal power commission of the Russian Federation, distribution of access rights to export oil pipelines the Department of Energy of the Russian Federation, the coordination of investment activity of Open Society" АК "Transneft» FEK the Russian Federation and Ministry for the Power Generating Industry of the Russian Federation. State regulation functions on an easy approach of manufacturers to capacities of a network are executed by the Department of Energy of the Russian Federation.
The transferred kinds of natural monopolies existing in Russia, despite those advantages about which it was spoken, have also variety of the negative moments which are in many respects caused by features of occurrence of natural monopolies in Russia.
In 90, during reforms, the Russian enterprises including subjects of natural monopolies, have started to gravitate to typical forms of economic motivation and behaviour in the market. However this behaviour had the specific character caused by general socially - by economic conditions of development of Russia during this period. Instability of economic development has generated two features of behaviour of natural monopolies is a priority of short-term economic interests and uncertainty of the property rights.
The priority of short-term objectives over long-term usually finds expression in korrejugirovke firm-monopolist criterion function when she instead of accumulation and investment tries to use the financial resources for reception of superincomes (up to gamble in the currency and share market).
Uncertainty of the property rights opens wide prospects of personal enrichment of management of the firm-monopolist supervising financial streams, to the detriment of to economic interests of its shareholders and the states.
These circumstances should be considered at development of measures of state regulation of activity of natural monopolies.
According to the law «About natural monopolies», in Russia bodies of regulation of natural monopolies can apply two basic methods of regulation of activity of natural monopolies:
. Price the regulations, carried out by means of definition (establishment) of the prices (tariffs) or their marginal level.
. Definition of the requirements which are subject to obligatory service, and (or) establishment of a minimum level of their maintenance in case of impossibility of satisfaction in full requirements for the goods, made (realised) by the subject of natural monopoly, with allowance for necessities of protection of the rights and legitimate interests of citizens,
Maintenance of safety of the state, wildlife management and cultural values.
Necessity of application of the second method is directly determined by the nature of natural monopolies. The goods made in them quite often objectively are limited on the resources, and even at all ischerpaemy (complete use of the reconnoitered deposits, extraction reduction, etc.). This circumstance allows subjects of natural monopolies to sell, at own discretion, selectively the goods to one consumers and to deprive of these goods of other consumers. State interference urged to protect interests of all consumers.
In our opinion, it is obviously not enough transferred two methods that natural monopolies in Russia carried out the activity not to the detriment of to national interests. These methods should be added still by a number of measures, more full considering a specific Russian situation. Besides, and the in itself methods allocated in the law «About natural monopolies», require clarification.
First of all, it concerns price control. As is known, in Russia price control can be carried out by an establishment of the fixed prices, price limits, extra charges, a marginal level of profitability, declaring of a rise in price and limiting factors of change of the prices.
Use fixed, and also price limits or extra charges with the purposes of effective regulation of natural monopolies in the conditions of enough high inflation which exists till now in Russia, is inexpedient.
Moreover, now price control of natural monopolies in Russia is carried out mainly in the form of an establishment of the top limit of tariffs (defined concerning rate of inflation or price index growth in the industry). However more often
Definition of this price is carried out not on the basis of the qualified accounts, forecasts, etc., and "by eye". Naturally, such price cannot play to the full a role of a regulator of activity of natural monopolies.
As the alternative of direct price regulation is offered regulation of tariffs for production of natural monopolies through reasonable rate of return on the used capital. However and in this case there are many problems.
First of all, in the conditions of Russia there are problems with definition of costs of natural monopolies. The prices for production of such monopolies, real them real and necessary costs, owing to circumstances independent of the companies, can be unreasonably high for economy, as is observed in Russia. In these conditions there is a necessity to resort to purely administrative price-fixing to support them at low level comprehensible to consumers and simultaneously to compensate losses of manufacturers by means of subsidising.
Defect of similar practice consists what to freeze the prices it appears easier, than to obtain means for payment of grants, that is why the semi-automatic mode of updating of the prices of natural monopolies (their percentage indexation on dynamics of costs) appears more preferably.
At regulation of rate of return inevitably there will be problems with a property estimation. The property estimation on vosproizvodstvennoj costs in itself is very difficult process which in the conditions of Russia becomes complicated two more circumstances. First, inflationary deformations of a real project cost of an estimation, and, secondly, high degree moral and wear and tear of the equipment of the Russian companies. In these conditions a lot of time to evaluate real cost that can bring to nothing, efficiency of this method is required.
The second large problem after a property estimation is an establishment of "reasonable" rate of return. As already it was marked above, for example, to the USA regulating agencies allow corporations in branches of natural monopolies to establish such tariffs which make for them the profit equal to profit, received in the same region and for the same period of time for the same investments in other enterprises, except for especially risky vysokopribylnyh and speculative campaigns. The top limit is the rate of return supplying reasonable level of dividends on the share capital, and bottom - yield on the state bonds.
In the conditions of Russia hardly it is possible to use this method. To establish profit for subjects of natural monopolies at level which is brought by shares of the Russian enterprises or, especially, state valuable papers (state credit obligations, federal loan bond, etc.) it is impossible. Furthermore nobody knows, what average rate of return on the country. The official statistics does not operate with this indicator.
Besides, it is necessary to consider and direct defects of a method of regulation of the rate of return, which in itself wasteful character has. This method induces businessmen in every possible way to increase tariff base, including, for example, intangible assets with the purposes of overestimate of an estimation of the invested capital and reception bolshej profits.
Such behaviour of natural monopolies quite defensible if to evaluate their activity as the businessmen acting in the market environment. As some economists, «mark... Target rate of return at practice existing in adjustable branches
Pricings and risk minimisation turns in guaranteed and can conduct to inefficiency fastening ».
Thus, price control and tariffs for production of natural monopolies by means of an establishment of the fixed rate of return on the corporation invested capital will be in the conditions of Russia an administrative stimulator for search of illegal ways of reception of "fair" profit. Therefore this method can be hardly widely used in Russia.
In our opinion, the most comprehensible method of regulation of activity of natural monopolies in Russia is the method of limiting factors of change of the prices when indexing of the prices and tariffs for production of natural monopolies will be indexed according to growth of the general price level in economy.
As already it was marked above, controlled price account thus can be made by multiplication of the base price for an index of growth of expenses on separate or in all respects cost prices.
In the mid-nineties Ministry of Railways of the Russian Federation tried to introduce such method. It had been co-ordinated and confirmed the nomenclature of the material resources consumed by rail of the Russian Federation on which change of the prices indexation of tariffs for carriages consignments and rates for handlings was carried out. It included eleven items: diesel fuel; oil the lubricant diesel; black oil; coal; the electric power; saw-timbers; rails railway; cross ties railway; rubble; ferro-concrete designs; tonkolistovaja a steel of ordinary marks. However the price index on the basis of this nomenclature has been made not with allowance for relative densities of kinds of production entering into it and so that to supply for
"See: New tendencies in state-monopoly regulation of economy of the main capitalist countries. - m. 1981. C.I31.
Ministry of Railways of Russia comprehensible growth rate of railroad rates. Therefore in a consequence this method has been replaced.
At use of this method in other branches, it will be necessary to decide variety of problems. First of all, it is necessary to define more precisely the initial base price which should be indexed, and after certain time and to revise. It is expedient to consider thus not only developed structure and cost of production costs, but also to provide their dynamics in the future, change of the prices for separate components of costs. Understating of costs so also the prices, will inevitably make production of the goods unprofitable. While price overestimate will be caused by a situation when production of natural monopolies becomes inaccessible to the majority of consumers. Therefore it is necessary to develop also standard and methodical documents in which the general model of construction of the new tariff system adequate to Russia for conditions should be reflected.
It is necessary to mean, that in itself (basically) state regulation of activity of natural monopolies imperfectly. For qualitative price control and tariffs for production of natural monopolies the state always does not have time and there is no necessary information. Therefore introduction of elements of a competitiveness and re-structuring of natural monopolies can be alternative to price regulation.
This method is considered now as one of the basic methods of reforming of activity of natural monopolies in Russia.
At the same time, displacement of accents in reforming of natural monopolies from price regulation on their re-structuring, is premature. It speaks two reasons.
The first. National specificity of the Russian economy is that, that it potentially contains variety of restrictions for re-structuring
Natural monopolies. These restrictions are connected about necessity of preservation of territorial integrity of the country, the uniform national market, maintenance of stability of functioning of infrastructural networks and national security maintenance.
In Russia, owing to huge territories, the role of communications in maintenance of functioning of the economic whole is very great. Huge expenses for its creation and maintenance therefore are required. Besides, for the majority of the enterprises the share of transport costs in an aggregate cost of the goods sold in Russia is very great. It can make from 50 % and above.
In Russia rich with natural resources, for a long time there was a situation when in mirohozjajstvennoj specialisations it was allocated with working out of natural resources that was its advantage. But working out of minerals always demanded a significant amount of means for their development, therefore natural resources development in Russia always concerned area of formation of natural monopolies.
All these restrictions stipulate a priority of maintenance of real stability before potential possibility of increase of efficiency.
Instability of economic conditions, inflation, uncertainty of the property rights, domination of short-term economic interests over long-term, high investment barriers of an input-exit - all these factors do not create favorable conditions for realisation of re-structuring of natural monopolies in Russia.
Besides, it is necessary to mean, that for some Russian natural monopolies re-structuring is fraught with loss of competitive advantages. It, first of all, concerns "Gazprom" which, unique of the Russian natural monopolies, is the subject
Not national, and the world market for which more rigid competitiveness is characteristic. "Gazprom" demonopolization can essentially lower its competitiveness that will be on a hand to foreign competitors.
The second. Methods of re-structuring of natural monopolies known in world practice and introductions of elements of a competitiveness can be applied in Russia only in very limited sizes.
For example, the auctions for the right to be natural monopoly. In Russia the such auctions in general are unacceptable for natural monopolies of federal level as in the country there are no the companies capable, for example, to win the auctions for the right of cargo and passenger carriages by railway transportation of Russia. If to go on way of allocation of regional plots of railways which then will be transmitted, following the results of the auctions, to operation to the various transport companies it can lead to formation instead of uniform monopoly of set of regional monopolies. Most likely, that in the conditions of Russia such situation only will worsen position of passengers and those who uses a freight transport.
In Russia as well as in other countries, such defect of the auctions for the franchise as impossibility of transfer of the means invested by the winner of last auctions in expansion of a fixed capital is saved, to the competitors who have won the following of the auction. Thereby there are all bases for preservation of monopoly of the former winner.
In itself unpredictability and instability of an economic situation in Russia can lead to change of economic circumstances at which agreements on delivery of production of a natural monopolist have been concluded. Possibility will revise delivery terms and conditions of contract, in turn, to stimulate winners of the auctions to prices reconsideration and tariffs. It can call also into question realisation the investment provided by the agreement
The program. Thus, those advantages which grant the auctions for the franchise, actually will be brought to nothing.
In our opinion, competitiveness development in system of natural monopolies in Russia can be used as a method of regulation of their activity, but only in some forms known in other countries. So, in Russia, with allowance for allocated above features, it is expedient to use such method as creation of the new company which will be the proprietor of a uniform infrastructural network. Such company, remaining the proprietor of an infrastructural network, should not attend to network operation. The right to operation of an infrastructural network should be granted the winner of the auctions who have offered the best conditions of lease that should be fixed in the agreement between the proprietor and the leaser. After the expiry of the term of lease competitive bidding can be reinstated again.
At such scheme, the network company-proprietor answers before the state regulating bodies for investments (on account of a rent provided by the agreement) and maintenance of an infrastructural network in working order. The state control over observance of terms and conditions of contract by the proprietor of a network is thus supplemented with the control of the leasers maintaining a network, that considerably increases its effectiveness.
World practice gives to us many positive examples of use of this model. So, according to the decision of Advice of the European Union, members of EU were offered to divide account of the state enterprises which possess tracks and the enterprises maintaining a rolling stock. It has been made to supply access to tracks to other competitors among whom could be and joint ventures of EU member states.
Under such plan, for example, in the Great Britain complete structural reorganisation «British Rejl» which after privatisation was divided into two independent enterprises has been carried out. One of them maintained system of tracks, and other - freight trains on these ways. And, to competitors who were going to maintain structures on the railway, it was authorised to purchase from the operator railway ways time for passage on them of trains. Thus there was a competitiveness on service of trains for the purpose of increase of efficiency of rail transportation.
The idea of stimulation of a competitiveness of section by of operation of tracks and trains has already found practical application and in other branches of natural monopolies. For example, in the USA and in some countries of Europe transformations to areas petro-and pipeline transport, telecommunications and electric power industry occur such method.
In Russia too followed use this method. However at its use it is necessary to think over carefully actions for the control over access to an infrastructure and behind the prices as which its holder can freely nominate. It is necessary, that infrastructure allocation (its production and its services) from the granting of such services has not led to new displays of monopolism and an inefficiency.
It is necessary to pay attention also that preparation for reforming of natural monopolies can take a lot of time and demands the big spadework. So, in the Great Britain reforming of railways has taken six years. Thus it has been realised only concerning unprofitable passenger carriages, and already after privatisation of air freights, the airports, the bus companies and seaports.
By reorganisation of the Russian natural monopolies, in particular electric power industry, it is possible to consider and other experience. So, in the world
To practice there are some models of structure of the organisation of branch of electric power industry:
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More on topic 4.3. Features of regulation natural monopolijv Russia.:

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  2. Regional features of legal regulation of preservation of the environment of the Arctic zone of Russia
  3. 2.1. Features of legal regulation of inheritance of the property rights connected with enterprise activity in pre-revolutionary Russia
  4. Chapter 1. Features of konstitutsionno-legal regulation of institute of local government in political system of Russia
  6. § 3. Features it is administrative-legal regimes in Separate spheres of natural monopolies.
  7. § 3. Historical aspect of legal regulation of natural monopolies.
  8. § 3. Features of a legal status of Bank of Russia as body of state regulation of bank activity.
  9. § 2. Features of formation it is administrative Legal regime of natural monopolies at regional level.
  10. § 2. Features of the legislation on an inconsistency (bankruptcy) of subjects of natural monopolies of a fuel and energy complex
  11. 2.1. The American model of regulation of the vertically-integrated complexes of natural monopolies
  12. Chapter 2. Features of legal regulation of activity of Bank of Russia under the control over creation of the credit organisations and supervision of their activity
  13. 2.1. The analysis of the mechanism of regulation of subjects of the industrial natural monopolies, acting on a local commodity market
  14. 1.2 Essences of natural monopolies and world experience of regulation of activity of their subjects.
  15. features kommunitaristskoj natural death concepts