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MOSENERGO (TGC-3)

April 26, 2002

AO MOSENERGO summarized the results of financial and economic activities for the first quarter of 2002

Igor Goryunov, the first deputy general director and the chief engineer of AO MOSENERGO, spoke on this subject at a company conference. In total, 317 delegates from all branches and management took part in the conference.

Goryunov noted that the expected net profit for the first quarter 2002 should amount to 706 million rubles. In comparison with the same period last year this figure decreased four times. According to Goryunov, this stemmed from growing production and sales costs resulting from an increase of wholesale gas prices in February 2002 while increasing client payments were not compensated for by adequate electricity tariffs.

Based on the results of the first quarter, the company will allocate 39 million rubles to reserve funds. The company foresees no advance use of the net profit earned in this period.

Goryunov summarized the electricity generation and consumption in the first quarter, reporting that the maximum electricity consumption at AO MOSENERGO during the peak load season in autumn and winter reached 13,254 MWt which exceeds 2001 figures by 3.8%. The average maximum of electricity consumption on working days reached 11,622 MWt (against 0.3% last year). Therefore, the electricity consumption at AO MOSENERGO’s franchise area grew by 2% as compared to 2001.

Last quarter all electric stations of AO MOSENERGO exceeded their plans for generating working capacities. This became possible due to a number of factors-notably reduction of emergency shut-downs of the equipment and the postponement of repair schedules. In total, the working capacity of electric stations including unit-stations amounted to 13,841 MWt which is 572 higher than the contract amount and exceeds the same indicator last year by 34 MWt. The following divisions of AO MOSENERGO made the biggest contribution to over-performance on power generation contracts: TEZ-25, TEZ-22, TEZ-23 and GRES-4.

Throughout the first three months of the current year, AO MOSENERGO electric stations generated 19.6 billion kWt·h of electricity which is 4.6% below last year’s levels. Lower electricity generation was caused by relatively warmer weather and regime conditions at RAO UES. As compared to the last year, the electricity consumption at AO MOSENERGO in the first quarter grew by 3.9% and reached 15.25 billion kWt·h.

In the first quarter 2002, the amount of heat power discharged from electric stations reached 27.5 million Gcal, which is lower than in 2001 by 7.7%. This was due to the fact that temperatures this year were higher than during the same period last year.

From January to March, electricity losses (technical spending) at AO MOSENERGO as compared to the first quarter of 2001 decreased by 8.9%. This resulted from a number of measures including

  1. Continuing efforts aimed at equipping electric stations and grid divisions of AO MOSENERGO with the equipment for locating and analyzing the loss spots
  2. Introducing business planning for lower loss reduction at electric grids and Energosbyt, sales division of AO MOSENERGO
  3. Checking on the condition of counting devices of big consumers and the developing of program for replacing these with modern ones.

In addition, in the first quarter the grid branches and offices of Energosbyt carried out 396 joint raids to inspect electricity counters, registering readings from 15,600 counters.

Not a single breakdown occurred at the facilities of AO MOSENERGO during the last quarter. The number of incidents decreased by 4.9%

In general, in the first quarter 2002, Goryunov said that AO MOSENERGO ensured the reliable electricity supply for its customers. Limitations and cut-offs due to the lack of power and electricity from January to March have not been registered.

 

 

 

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