Operating results of Russian power generation and heat production subsidiaries of Inter RAO Group reflect the following key drivers:

  • Addition of 1.6 GW of new and upgraded power generation capacity under Capacity Delivery Agreements
  • Growth of NDM electricity prices by 5.3% in the first pricing zone and by 8% in the second pricing zone
  • Increase in CCA capacity prices year-on-year
  • Growth of heat prices
  • Divestment of JSC OmskRTS and JSC TomskRTS into independent subsidiaries effective April 01, 2014
  • Optimization of capacity utilization profile and reduced utilization of relatively inefficient generation units
  • 7.4% increase in FTS-regulated gas prices through indexation in 2013
  • Gas cost optimization through agreements with independent gas suppliers
  • Reduction of coal costs owing to the optimization of coal mix by the management team, and reduction of coal prices and coal delivery charges
  • Reduction of fixed costs per unit of production
Operating results of power generation subsidiaries:
Indicator Inter RAO - Electric Power Plants Nizhnevartovskaya TPP
2014 Change 2014 Change
Revenue 147,8 7,4% 16,1 22,9%
Cost of goods sold 131,6 5,5% 11,8 11,3%
Sales profit 14,4 32,1% 3,6 89,5%
Net profit 10,3 71,7% 2,0 33,3%
Power generation, billion kWh 90,8 -1,0% 11,9 0,3%
Heat distribution from collectors, million Gcal 3,8 -6,1% 0,3 9,8%

* Billion rubles unless indicated otherwise

Operating results of heat production subsidiaries:
Indicator Bashkir Generation Company TGK-11
2014 Change 2014 Change
Revenue 42,0 9,4% 27,2 8,8%
Operating expenses 37,4 5,1% 26,0 11,6%
Sales profit 4,6 64,3% 1,2 -29,4%
Net profit 2,7 58,8% 0,1 -66,7%
Power generation, billion kWh 19,6 -0,7% 9,2 5,0%
Heat distribution from collectors, million Gcal 16,9 1,2% 16,2 1,4%

* - Billion rubles unless indicated otherwise

For more details on the 2014 RAS operating performance of the power generation and heat production subsidiaries of Inter RAO Group, please visit their official websites (in Russian):

* Reports are available for the following subsidiaries: Inter RAO - Electric Power Plants, Nizhnevartovskaya TPP, Bashkir Generation Company and TGK-11

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Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business. The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and the leading Russian energy company by energy efficiency. Inter RAO Group owns and operates over 35 GW of installed power generation capacity. www.interrao.ru


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