According to State Property Fund announcement, Cabinet of Ministers approved the privatization of the state’s stakes in 14 regional electricity distribution companies, which should be put on sale at the auction and sold till December 1, 2009. The state's stakes of Cherkasyoblenergo (CHON UZ) was excluded from the list (CHON to be sold later together with state UkrEsko company). Sourse: Interfax Our view:New details and fixed terms of upcoming privatization in the Energy sector will definitely make a positive impact on the listed DisCos. However, as on 25th of August the state stakes in DisCos were not transferred to State Property Fund (SPF) yet. SPF also stated the absence of auction schedule at the moment. Under the current practice the auction procedure requires from 50 to 75 days, although previously some auctions were organized within 30 days. However SPF has not announced new auction procedures elaborated in case of privatization of majority stakes in DisCos, that’s why we estimate SPF’s plans and announced terms of privatization (till 1 December 2009) too optimistic.