INTER RAO UES * The following power generation subsidiaries published their financial results: JSC Inter RAO - Electric Power Plants, CJSC Nizhnevartovskaya TPP, Bashkir Generation Company LLC, JSC TGK-11, and JSC Tomsk Generation (net of heating network operations in the first six 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:
- The launch of the new 225 MW coal-fired CDA Unit 9 at Cherepetskaya TPP in the spring of 2015
- The completion of upgrades at Turbine Generator 2 at Omskaya TPP-5 adding 20 MW to the plant's installed capacity in the end of 2015
- Retirement of 910 MW of legacy low-efficient equipment in Russia, 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)
- Streamlined utilization of low-profit and low-efficiency power generation units, and maintenance downtime of certain power generation units during low-price periods on the Day-Ahead Market
- Warmer weather during the winter of 2016
- Fuel cost optimization through selection of suppliers offering the best pricing
- CCO price changes
- Increased profitability of long-term government bonds
- Divestment of JSC Tomsk Generation from JSC TGK-11 as of April 1, 2015
Operating and financial results of the power generation subsidiaries:
Indicator | Inter RAO - Electric Power Plants | Nizhnevartovskaya TPP | ||
|---|---|---|---|---|
First six months of 2016 | Change | First six months of 2016 | Change | |
Revenue | 82.8 | 14.6% | 9.1 | 0.2% |
Cost of goods sold | 64.5 | 5.5% | 7.0 | 4.2% |
Sales profit | 17.3 | 71.2% | 1.7 | (13.0%) |
Net income | 30.2 | 300.6% | 1.4 | 10.0% |
Power generation, billion kWh | 36.6 | (12.4%) | 6.8 | 2.5% |
Heat output from collectors, million Gcal | 2.1 | 2.3% | 0.1 | 7.4% |
* Billion rubles unless indicated otherwise
Operating and financial results of the heat production subsidiaries:
Indicator | Bashkir Generation Company | TGK-11 | Tomsk Generation | |||
|---|---|---|---|---|---|---|
First six months of 2016 | Change | First six months of 2016 | Change** | First six months of 2016 | Change** | |
Revenue | 22.1 | 10.7% | 9.1 | - | 3.4 | - |
Operating expenses | 18.1 | (0.2%) | 7.9 | - | 3.1 | - |
Sales profit | 3.9 | 120.5% | 1.1 | - | 0.2 | - |
Net income | 2.6 | 194.7% | 0.7 | - | 0.1 | - |
Power generation, billion kWh | 10.0 | 6.5% | 3.5 | - | 1.0 | - |
Heat output from collectors, million Gcal | 8.7 | (3.6%) | 4.7 | - | 2.5 | - |
* Billion rubles unless indicated otherwise
** - The results of JSC TGK-11 and JSC Tomsk Generation for the first six months of 2016 are not comparable with their results for the same period of the previous year due to the divestment of JSC Tomsk Generation from JSC TGK-11 into a separate subsidiary of Inter RAO Group as of April 1, 2015.
For more details on the RAS financial results of the power generation and heat production subsidiaries of Inter RAO Group for the first six months of 2016, please visit their official websites:
Inter RAO - Electric Power Plants and Nizhnevartovskaya TPP | Bashkir Generation Company | TGK-11 | Tomsk Generation |
|---|---|---|---|
Press release (link) | Press release (in Russian) (link) | Press release (in Russian) (link) | Press release (in Russian) (link) |
Statements for the first six months of 2016 (link) | Statements for the first six months of 2016 (link) | Statements for the first six months of 2016 (link) | Statements for the first six months of 2016 (link) |
Operating results (link) | Operating results (in Russian) (link) | Operating results (in Russian) (link) | Operating results (in Russian) (link) |
* * *
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 approximately 32.5 GW of installed power generation capacity.www.interrao.ruOAO INTER RAO UES published this content on 25 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 July 2016 06:40:01 UTC.
Original documenthttp://www.interrao.ru/en/news/company/?ELEMENT_ID=6837
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