INTER RAO UES 
By Inter RAO Group published operational results for the full year 2013. Acquisitions in the end of 2012 and in 2013 significantly influenced the growth of operational performance indicators. Performance of new assets is included in the results from the moment of their merger with Inter RAO Group, which is November 2012 for Bashkortostan generation, December 2012 for Turkish Trakya Elektrik, and September 2013 for Tomsk Energy Sales Company.
Group Generation: | |||
Indicator | 2013 | 2012 | +/- |
Installed capacity at the end of the reporting period, MW | 33,587 | 33,501 | +0.3% |
Electricity generation, billion kWh | 147.468 | 127.438 | +15.7% |
Electricity distribution from transmission buses*, billion kWh | 140.01 | 120.8 | +15.9% |
Heat distribution from collectors, million Gcal | 41.227 | 26.205 | +57.3% |
Capacity utilization, % | 50.6% | 50.3% | |
Russian generation: | |||
Indicator | 2013 | 2012 | +/- |
Installed capacity at the end of the reporting period, MW | 27,622 | 27,535 | +0.3% |
Electricity generation, billion kWh | 132.152 | 113.955 | +16% |
Electricity distribution from transmission buses*, billion kWh | 125.448 | 108.078 | +16% |
Heat distribution from collectors, million Gcal | 41.027 | 26.008 | +57.7% |
Capacity utilization, % | 55.2% | 55.6% | |
International generation: | |||
Indicator | 2013 | 2012 | +/- |
Installed capacity at the end of the reporting period, MW | 5,965 | 5,965 | - |
Electricity generation, billion kWh | 15.317 | 13.483 | +13.6% |
Electricity distribution from transmission buses*, billion kWh | 14.562 | 12.722 | +14.5% |
Heat distribution from collectors, billion Gcal | 0.2 | 0.197 | +1.4% |
Capacity utilization, % | 29.3% | 27.8% | |
* Electricity distribution from buses is defined as the difference between electricity generation and internal power consumption
In 2013, Inter RAO Group was systematically replacing obsolete and inefficient equipment with state-of-the-art power generation units. New installations and upgrades of existing equipment added more than 555 MW of new capacity. In particular, we built a new 15 MW gas turbine unit at Tomskaya TPP-1, a new 85 MW combined cycle unit and a 60 MW turbine at Omskaya TPP-3, a 210 MW pulverized coal generation unit at Gusinoozyorskaya TPP, and the 200 MW Dzhubginskaya TPP that will support the Sochi Olympics. At the same time, we retired certain equipment at Ivanovskiye CPP and replaced power generation units at Gusinoozyorskaya TPP and Bashkortostan power plants, totaling nearly 470 MW. As the result, combined installed capacity of Inter RAO Group power plants increased by 85 MW in 2013.
Acquisitions of power generation assets in 2012 and additions of new capacities resulted in 15.7% increase in electricity and heat generation in 2013. At the same time, our existing power plants followed the all-Russian trend of slight reduction in power generation due to reduced consumption of electricity by the largest industrial consumers and relatively high national average annual temperature. Nonetheless, Inter RAO Group was able to improve the utilization of our most efficient power plants by accelerating repairs and reducing cold standby durations. Unregulated prices in the Russian energy market increased in 2013 and reached new all-time highs in the whole history of competitive energy exchange. Weighted price index in European Russia and Ural (pricing zone 1) increased by more than 10%, while in Siberia (pricing zone 2) it grew by just 2%.
Average utilization of installed capacity across all power plants of Inter RAO Group increased to 50.6% primarily due to high utilization of new, more efficient plants.
The 2012 acquisition of Turkish 478 MW Trakya Elektrik power plant was the main contributor to increased international power generation. This power plant produced 3.9 billion kWh of electricity in 2013, and its utilization increased by 1.5 percentage points to 93% during the first year of its management by Inter RAO Group. Ekibastuzskaya TPP-2 generated 2.4% more electricity due to shortened scheduled maintenance.
We distributed 57.7% more heat from our collectors following the acquisition of Bashkortostan heat generation assets. The overall trend of heat delivery follows the outside air temperatures in the regions of our power plants.
Sales in Russia | |||
Indicator | 2013 | 2012 | +/- |
Number of consumers, million | 11.5 | 10.5 | +9.7% |
Retail electricity sales, billion kWh | 152.078 | 151.537 | +0.4% |
Share of Russian retail market*, % | 14.7% | 14.6% | +0.1% |
* Share of Russian retail market is defined as the ratio of retail sales to total actual electricity consumption (1,031.2 bn kWh in 2013 and 1,037.4 bn kWh in 2012 according to the System Operator of the Unified Energy System of Russia)
Sales businesses of Inter RAO Group kept expanding their consumer base in 2013. An additional 1 million customers resulted from the integration of Tomsk Energy Sales Company (more than 400 thousand consumers) into Inter RAO Group and from the growth of Moscow Energy Sales Company.
The acquisition of Tomsk Energy Sales Company also resulted in increased retail electricity sales and a slight increase in Group's share of electricity sales in the Russian market.
International distribution companies and grid operators (Georgian Telasi and Electric Networks of Armenia): | |||
Indicator | 2013 | 2012 | +/- |
Total length of power lines, km | 35,260 | 34,975 | +0.8% |
Electricity delivery to the grid, million kWh | 8,248 | 8,128 | +1.5% |
Electricity losses, % | 11.6% | 12.4% | -0.8% |
We extended our transmission lines in order to connect new customers of Telasi to the grid. We delivered more electricity to the grid due to increased regional energy consumption and a series of loss reduction projects.
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Import and export of electricity by JSC Inter RAO across Russian borders: | |||
Indicator | 2013 | 2012 | +/- |
Export, million kWh | 17,539 | 18,364 | -4% |
Including: | |||
Azerbaijan | 57 | 56 | +3% |
Belarus | 3,597 | 3,698 | -3% |
Georgia | 461 | 517 | -11% |
Kazakhstan | 1,668 | 2,284 | -27% |
China | 3,495 | 2,630 | +33% |
Lithuania | 3,568 | 4,780 | -25% |
Mongolia | 414 | 393 | +5% |
Ukraine | 39 | 82 | -53% |
Finland | 4,107 | 3,794 | +8% |
South Ossetia | 134 | 130 | +3% |
Electricity import, million kWh | 4,564 | 2,608 | +75% |
Including: | |||
Azerbaijan | 129 | 241 | -47% |
Belarus | 2 | 4 | -48% |
Georgia | 371 | 369 | +0,5% |
Kazakhstan | 3,931 | 1,973 | +99% |
Lithuania | 99 | 0 | - |
Mongolia | 23 | 21 | +11% |
Ukraine | 6 | 0 | - |
Finland | 3 | 0 | - |
In 2013, we delivered 33% more electricity to China following the completion and launch of the new 500 kV Amurskaya-Heihe overhead transmission line in December 2011. This export market enjoyed favorable pricing conditions in 2013. Also in 2013, domestic electricity prices increased in Finland, making Russian electricity more competitive on price.
However, this growth was offset by reduced deliveries to other export markets. For example, reduced fluctuations in support of concurrent operation of Russian and Kazakh energy systems led to 27% reduction in energy export from Russia to Kazakhstan (while at the same time it increased the import from Kazakhstan to Russia). Unfavorable pricing and regulatory restrictions on energy import imposed by Vilnius authorities resulted in reduced deliveries of electricity to Lithuania.
Electricity deliveries from Kazakhstan resulting from favorable pricing and high efficiency of our commercial agreements led to record high growth of electricity import to Russia. Electricity import from Mongolia also increased in support of concurrent operation of national energy systems. In the autumn of 2013, we delivered a certain amount of electricity from Finland during grid and dispatch infrastructure tests.
"Our 2013 operational results demonstrate the ability of Inter RAO Group to withstand the challenges of energy markets in our regions," said Chief Executive of Inter RAO Boris Kovalchuk. "At the same time, we kept working on our main objective set by the government, which is the rehabilitation and reconstruction of Russian power generation assets. We successfully added 500 MW of new generation and optimized the performance of our existing equipment, demonstrating our ability to follow the principles of our Group development strategy."
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Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. Inter RAO is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business. Our corporate strategy is focused on making Inter RAO a global energy enterprise and a key player in the global energy market. Inter RAO Group owns and operates over 33.6 GW of installed power generation capacity. www.interrao.ru
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