IES-Holding came up with the preliminary results of the audit it did of TGK-9 investment projects. The auditing procedures were carried out in March and April 2008 after the Holding became the company’s majority shareholder.

The company’s investment plan appears to have a number of significant flaws. The Holding’s experts believe these plans are based on somewhat obsolete growth and energy spending data that aren’t backed up by the energy consumers’ financial obligations and do not take into account the companies’ reliance on the energy spending dynamics.

The experts also see the projects’ focusing exclusively on the construction of new power generating facilities as a problem. They believe the need to upgrade the existing equipment must be considered as well, given especially the fact that TGK-9 stations are on average 40.5 years old. If the enterprise concentrates on the new facilities, the whole performance of the currently operating equipment would be jeopardized.