As a prosperous company, Rusneftegaz produces large quantities of fuel whilst also consuming great amounts of energy in all areas of our operations. This extends from combusting bituminous coal in our power plants, to utilizing electricity for the equipment in our offices. Consequently, this accrues significant costs for our organization, both environmentally and in terms of financial expenses borne. Therefore, our management is constantly reviewing our current practices to ensure that these resources are used efficiently, and makes improvements accordingly when possible. At a minimum, this includes not only complying with all the relevant laws and regulations of the Russian Federation in regard to the efficient use and saving of energy, but also adhering to any subsequent legislation. Currently, this entails following the conditions of Federal Law No. 261-FZ, although we also act in accordance with local and international requirements when applicable. In all aspects of our business, we have recently updated our policies in full compliance with ISO 50001, a code meticulously detailing how to effectively manage our power usage.
For us, this involves implementing a variety of technical and operational measures to simultaneously reduce our resource use, while also increasing our levels of productivity to align with our other strategic goals. These efforts, when in unison, should guarantee the sustainable development of Rusneftegaz both in the immediate and long term. For example, we are actively reducing our electricity use, primarily through decreasing the amount of fuel used in our power engineering division. Such cuts are being executed via the regeneration of our existing generation assets, with the recent overhaul of our steam generators improving the heat efficiency of the combusted coal, whilst also curtailing our fuel usage and thus the corresponding costs. In the future, this will also lead to a decline in maintenance expenses, in addition to an enhanced capacity to monitor the performance of our infrastructure, namely fuel use. Similarly, the wider modernization and reconstruction of our power plants will also provide opportunities to improve the sites technologically, including the introduction of new equipment and processes, and optimize the supply and consumption of energy.
Although we have an extensive plan to implement reductions in the volume of energy we utilize in individual areas of our operations, our board of directors is also focusing on executing schemes that will impact our entity more widely. For instance, we conduct periodical surveys of our electricity use, with the data collated being amalgamated with other information and resources to make observations with regards to our power and fuel consumption. The assessment is then used to analyze short and long-term trends, review indicators of future usage, and calculate new objectives based upon these results. These statistics are then analyzed by our leadership as a reference point when making decisions regarding our purchases, and also when delegating responsibility for energy efficiency and savings among our staff. The former has served a crucial basis in the implementation of our current five-year spending program, with a significant impetus placed upon power conservation technologies. This ranges from sensors to monitor use, apparatus to retain heat, and modernized machinery that requires less electricity. In spite of the fact that this expenditure should improve our effectiveness significantly, the primary onus of our investments remains to acquire safe, reliable, productive assets that are in the best interests of Rusneftegaz.
Regardless of circumstances, the procurement of material that is power efficient will remain a major priority for our organization, not merely from an ecological perspective, but also for economic reasons. This extends from the smallest to the largest of our assets, where any new facilities that are constructed in the near and distant future shall be designed to fulfil the highest standards of energy efficiency. Fundamentally, this is important with regard to maintaining the potential longevity of a site, and whilst this will primarily entail deploying superior quality insulation and the latest appliances, it may also include utilizing automation to monitor electricity use and selectively draw power from devices accordingly. In alignment with modern metering of energy consumption, such contemporary technology will yield continual and consistent savings in terms of both usage and cash spent. Thereafter, the rise in performance targets that have been set by Rusneftegaz for almost a decade should be sustained in the months and years ahead.
Despite the fact our management often searches for and selects this equipment with relative ease, in some instances the technologies and systems that minimize electricity usage are not yet commercially available, or do not represent a worthwhile investment at present. Thus, we occasionally find it necessary to collaborate with other companies, institutions and organizations to implement research and development programs to work on this emerging science. Rusneftegaz also maintains the capacity to cooperate with both local and regional authorities on the application of energy efficiency measures, and actively promotes their use in both domestic and professional settings. At a corporate level, this includes training and developing all our personnel to understand the complexities of saving power and fuel, and to be capable of managing their use efficiently. Consequently, we intend to begin using a system of accounting for energy in the imminent future, with the intention that the consumption of these resources will be economically and technologically justified.