Russia Putin scolds tycoons who underinvest in power

SAYANO-SHUSHENSKAYA DAM, Russia Feb 24 (Reuters) - Russia's Prime Minister Vladimir Putin scolded four billionaires for underinvesting in the power sector and said their firms will face fines and will not be able to sell power at market prices.

Speaking on Wednesday at the Sayano-Shushenskaya hydropower plant Putin said OGK-3 (OGKC.MM), controlled by Vladimir Potanin, TGK-2 (TGKB.MM), controlled by Leonid Lebedev, TGK-4 (TGKD.MM) controlled by Mikhail Prokhorov and Complex Energy Systems controlled by Viktor Vekselberg shied away from their obligations.

"During the crisis we did everything we could to support you," Putin told a power sector meeting, addressing the oligarchs he had singled out. "The crisis is fading away so I ask you to fulfill your obligations." (Writing by Gleb Bryanski)