Anatoly Chubais, Chairman of the Management Board of UES of Russia, and Valentina Matvienko, Saint Petersburg Governor, signed an agreement on July 27, 2006 on cooperation at implementing activities to ensure reliable electricity supplies and create conditions for access to electricity networks for consumers in Saint Petersburg. This document provides unprecedented scale of investments in the energy sector of the northern capital. The total cost of the joint program in the period from 2006 to 2012 is estimated at RUR 300 billion. Total investments made in developing Lenenergo’s power grid complex amount to RUR 78 billion.