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MOSENERGO (TGC-3)

January 25, 2005

In 2004, AO MOSENERGO increased profitability of operations in the wholesale electric power market

AO MOSENERGO summed up the results of wholesale electricity auctions that were held in 2004.

Since last September, AO MOSENERGO has actively sold electric power in the wholesale market which enabled the company to increase the generation at its plants by more than 1,350 mn kWt-h. The economic effect from additional load is estimated at more than 300 m rubles.

In total, AO MOSENERGO purchased in the free wholesale market 1,050 m kWt-h and sold 2,370 m kWt-h of electricity. During the same period, AO MOSENERGO bought 6,500 m kWt-h of electricity in the regulated segment of the wholesale electric power market (adjusted to deviations). The price of electricity in the free market was on average lower than in the regulated segment (by 8.6 kopecks/kWt-h) which made it possible to save around 366 m rubles.

Late last year, AO MOSENERGO became the largest supplier and buyer in the free wholesale market. AO MOSENERGO’s electricity deals accounted for around 14% of the total volume. On some days, its share was close to 20%. The free wholesale electric power market was set up on November 1, 2003, which allowed any participant to sell 15% of generated electricity and purchase no more than 30% of its own consumption. AO MOSENERGO started operations in the free wholesale market on June 1, 2004. It took more than six months to approve optimal operation terms for AO MOSENERGO in the free market.

In April 2005, the “balancing” (frictions, fluctuations?) market is expected to be launched. This segment is the most complex and highly technological. The purpose is to increase the accuracy of planned auctions and stimulate the participants to fulfill dispatch orders. In addition, by the end of 2005, the switch to regulated bilateral agreements will be possible. The electricity market continues to develop and improve, while AO MOSENERGO intends to increase its participation at auctions in this market.

 

 

 

 

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