* The financial results are given for the following power generation companies: JSC Inter RAO - Electric Power Plants, CJSC Nizhnevartovskaya TPP, Bashkir Generation Company LLC, JSC TGC-11, and JSC Tomsk Generation (without taking into account the performance of the heating business for 2016).

Key factors affecting the dynamics of operational and financial indicators of Russian power generation companies of Inter RAO Group are as follows:

  • Retirement of outdated inefficient power generation equipment in Russia with the total installed capacity of 1,271 MW, including 865 MW at Cherepetskaya TPP, 330 MW at Verkhnetagilskaya TPP, and 75 MW at Omskaya TPP-3 since January 1, 2017, as well as 1 MW at Bashkir power facilities;
  • Commissioning of 567 MW of new power generation capacity under CDA (447 MW at Verkhnetagilskaya TPP and 120 MW at Omskaya TPP-3);
  • Sale of the 120 MW Kumertau TPP (328 Gcal/h) in November 2016;
  • An increase in the installed electric capacity of the existing units by 90 MW after carrying out technical works on relabeling in the second half of 2016 (including by 31 MW at Urengoyskaya TPP and by 30 MW at Gusinoozerskaya TPP);
  • Conducting repair operations at power units of Permskaya TPP, Severo-Zapadnaya TPP and Kaliningradskaya TPP-2 in 2016, which resulted in revenue growth for the first six months of 2017;
  • The lower air temperature in winter 2017 and the later end of the heating season in spring 2017 in most regions of presence of Inter RAO Group's enterprises;
  • Optimization of the load of power generation assets;
  • A considerable reduction in selling price at DAM in the context of the low-cost generation increase;

Operational and financial results of power generation assets performance:

Indicator Inter RAO - Electric Power Plants Nizhnevartovskaya TPP
First six months of 2017 Change First six months of 2017 Change
Revenue 87.5 5.7% 9.6 5.9%
Cost price 67.7 5.0% 6.9 (1.1%)
Sales profit 18.7 8.5% 2.4 42.4%
Net profit 22.4 (25.7%) 1.8 34.0%
Power generation, billion kWh 38.4 5.0% 6.7 (1.2%)
Heat distribution from collectors, million Gcal 2.3 10.0% 0.1 3.9%

* Billion rubles unless stated otherwise

Operational and financial results of heat generation assets performance:

Indicator Bashkir Generation Company TGK-11 Tomsk Generation
First six months of 2017 Change First six months of 2017 Change First six months of 2017 Change
Revenue 22.0 (0.3%) 9.5 5.0% 3.7 8.6%
Operating expenses 18.6 2.5% 7.9 - 3.1 3.9%
Sales profit 3.3 (15.4%) 1.4 23.4% 0.4 72.1%
Net profit 1.4 (46.9%) 1.0 45.7% 0.3 131.2%
Power generation, billion kWh 9.3 (7.2%) 3.4 (3.2%) 1.1 6.6%
Heat distribution from collectors, million Gcal 9.1 5.4% 4.7 (1.2%) 2.5 0.8%

* Billion rubles unless stated otherwise

For more details about RAS operating results of Russian power generation companies of Inter RAO Group for the first six months of 2017, please visit their official websites:

OAO INTER RAO UES published this content on 26 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 July 2017 06:45:09 UTC.

Original documenthttp://www.interrao.ru/en/press-center/news/detail.php?ID=8112

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