Alfa-Bank starts providing clearing and settlement services in the wholesale electric power market

On the 5th of February 2008, Alfa-Bank became the provider of clearing and settlement services to the electric power wholesale market participants in different price zones as an authorized lending agency. The related decision was made on the first of November 2007 by the Supervisory Board of the Nonprofit Partnership «Administrator of Trading System of the wholesale market of electric power» (NP ATS) under the determination that Alfa-Bank has all the administrative and technical capabilities to render such services in the Russian electric power market.

In this connection, the participants of the wholesale electric power market in different price zones shall transfer the required monetary funds to Alfa-Bank accounts sufficient enough to carry out such payments.

Chairman of NP ATS Management Board Dmitry Ponomarev joined Alfa-Bank’s Board of Directors. His role will include strengthening control over the implementation of the set targets and providing for more efficient interaction between NP ATS and Alfa-Bank.

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