INTER RAO UES The following power generation subsidiaries published their statements: JSC Inter RAO - Electric Power Plants, ZAO Nizhnevartovskaya TPP, Bashkir Generation Company LLC, JSC TGK-11, and JSC Tomsk Generation (excluding the results of heating network operations for the first three months of 2016)
The following key factors affected the operating and financial results of Russian power generation and heat production subsidiaries of Inter RAO Group:
- Retirement of legacy low-efficient equipment, including 420 MW at Cherepetskaya TPP, 376 MW at Verkhnetagilskaya TPP and 35 MW at Yuzhnouralskaya TPP since January 1, 2016; 29 MW at Bashkir power plants (25 MW since May 1, 2015, and 4 MW in 2016); and 50 MW at Omskaya TPP-4 (since June 1, 2015)
- Recertification of power generation equipment resulting in an 85.6 MW increase in installed capacity
- Reduced utilization of low-profit and low-efficiency power generation units, and maintenance downtime of certain power generation units during low-price periods at the Next-Day Market
- Fuel cost optimization through selection of suppliers offering the best pricing
- CCO price changes
- Increased profitability of long-term government bonds, and divestment of JSC Tomsk Generation from JSC TGK-11 as of April 1, 2015
Operating and financial results of power generation subsidiaries:
Indicator * | Inter RAO - Electric Power Plants | Nizhnevartovskaya TPP | ||
|---|---|---|---|---|
First three months of 2016 | Change | First three months of 2016 | Change | |
Revenue | 44.6 | 14.3% | 4.7 | (9.9%) |
Cost of goods sold | 33.5 | 5.9% | 3.5 | (2.7%) |
Sales profit | 10.6 | 54.4% | 1.0 | (29.7%) |
Net income | 7.6 | 66.1% | 0.7 | (18.2%) |
Power generation, billion kWh | 19.0 | (14.9%) | 3.3 | (10.4%) |
Heat distribution from collectors, million Gcal | 1.6 | 5.4% | 0.1 | 2.4% |
* Billion rubles unless indicated otherwise
Operating and financial results of heat production subsidiaries:
Indicator * | Bashkir Generation Company | TGK-11 | Tomsk Generation | |||
|---|---|---|---|---|---|---|
Q1 2016 | Change | Q1 2016 | Change | Q1 2016 | Change | |
Revenue | 12.7 | 15.5% | 5.7 | - | 2.3 | - |
Operating expenses | 10.0 | 4.7% | 4.3 | - | 2.0 | - |
Sales profit | 2.7 | 87.4% | 1.3 | - | 0.3 | - |
Net income | 1.6 | 50.5% | 1.0 | - | 0.2 | - |
Electricity generation, | 5.7 | 16.5% | 2.1 | - | 0.7 | - |
Heat distribution from collectors, million Gcal | 5.8 | 3.2% | 3.4 | - | 1.8 | - |
* Billion rubles unless indicated otherwise
For more details on the RAS financial results of the power generation and heat production subsidiaries of Inter RAO Group for the first three months of 2016, please visit their official websites:
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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 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 07:10:20 UTC
Original Document: http://www.interrao.ru/en/news/company/?ELEMENT_ID=6177
