INTER RAO UES The following suppliers of last resort published their results: PJSC Moscow Energy Sales Company (MES), JSC St. Petersburg Energy Sales Company (PSC), PJSC Saratovenergo, JSC Altai Energy Sales Company, JSC Tomsk Energy Sales Company (Tomsk ESC) and JSC Tambov Energy Sales Company (Tambov ESC)
The following factors affected operating and financial results of suppliers of last resort within Inter RAO Group:
- Expansion of MES and PSC customer base as they started serving new residential communities and picked up residential customers from third parties
- Regulatory increases of residential electricity rates starting from July 1, 2015
- Higher average cost of purchased capacity due to capacity price increases in the more expensive WECM sectors
- Higher grid operator rates in the regions of the Group's suppliers of last resort due to the indexation of electricity transmission tariffs
Indicator * |
Moscow Energy | PSC | Saratovenergo | Altai Energy Sales Company | Tomsk Energy Sales Company | Tambov ESC | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Q1 2016 | Change | Q1 2016 | Change | Q1 2016 | Change | Q1 2016 | Change | Q1 2016 | Change | Q1 2016 | Change | |
Revenue | 75.2 | 11.2% | 32.0 | 28.3% | 4.5 | 3.5% | 3.6 | 2.4% | 3.8 | 3.2% | 1.3 | 13.1% |
Operating expenses | 74.4 | 10.6% | 31.2 | 25.9% | 4.4 | 0.8% | 3.6 | 4.2% | 3.7 | 8.8% | 1.4 | 16.5% |
Profit (loss) from sales | 0.9 | 102.3% | 0.8 | 496% | 0.16 | 315% | 0.02 | (76.9%) | 0.1 | (62.2%) | (0.01) | - |
Net profit/(loss) | (0.4) | - | 0.8 | 121% | 0.01 | 8.7% | 0.06 | 12.6x | 0.0002 | 0.0% | (0.01) | - |
Electricity sales, billion kWh | 23.1 | (0.01%) | 10.3 | 4.2% | 1.6 | (7.5%) | 1.2 | (11.7%) | 1.5 | 0.5% | 0.4 | 1.9% |
* Billion rubles unless indicated otherwise
For more details on RAS operating results of the sales subsidiaries - suppliers of last resort of Inter RAO Group for the first three months of 2016, please visit their official websites:
* * *
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 Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates 33 GW of installed power generation capacity.www.interrao.ru
OAO INTER RAO UES issued this content on 25 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 April 2016 07:00:23 UTC
Original Document: http://www.interrao.ru/en/news/company/?ELEMENT_ID=6175
