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Inter RAO Group Announces Operating Results for the First Quarter of 2021

26 April 2021

Inter RAO Group announces operating results for the first quarter of 2021.

Indicator Q1 2021 Q1 2020 +/-

Installed capacity as at the end of the period, GW

30.771

30.972

-0.7%

Installed heat capacity as at the end of the period, thous. Gcal/h

25.321

25.176

+0.6%

Electricity output, billion kWh

31.220

28.392

+10.0%

Installed capacity utilization factor (ICUF)

47.0%

42.0%

-

Heat distribution from collectors, million Gcal

16.799

14.078

+19.3%

Russian generation:

Indicator Q1 2021 Q1 2020 +/-

Installed capacity as at the end of the period, GW

27.994

28.195

-0.7%

Installed heat capacity as at the end of the period, thous. Gcal/h

25.155

25.010

+0.6%

Electricity output, billion kWh

29.967

27.276

+9.9%

Share of electricity output in Russia

9.7%

9.3%

-

Installed capacity utilization factor (ICUF)

49.6%

44.3%

-

Heat distribution from collectors, million Gcal

16.753

14.037

+19.3%

Key factors shaping dynamics of performance indicators in the Generation segment compared to Q1 2020 were as follows:

  • Lower air temperature in winter 2021, as well as gradual economic recovery after restrictions related to the coronavirus pandemic;
  • Commissioning of three power units at reserve Primorskaya TPP in the Kaliningrad region with 195 MW of total capacity in the second half of 2020;
  • Commissioning of a water-heating boiler with the capacity of 180 Gcal/h at Salavatskaya TPP in the Republic of Bashkortostan;
  • Decommissioning of power unit No.3 with the total capacity of 330 MW from 1 January 2021 and power unit No.7 with the total capacity of 80 MW from 1 May 2020 at the Kashirskaya SDPP, as well as decommissioning of a generator at the Iriklinskaya HPP with the capacity of 7.5 MW;
  • Increase in the installed capacity (relabeling) of power units at the Pregolskaya and Mayakovskaya TPPs in the Kaliningrad region as a result of the introduction of new technologies, due to which their total installed capacity has increased by 8.1 MW, as well as relabeling of a power unit at the Karmanovskaya SDPP in Bashkiria (an increase in capacity by 13 MW).

Foreign assets: generation and distribution grids

Indicator Q1 2021 Q1 2020 +/-

Installed capacity as at the end of the period, GW

2.777

2.777

-

Installed heat capacity as at the end of the period, thous. Gcal/h

0.166

0.166

-

Electricity output, billion kWh

1.254

1.116

+12.4%

Installed capacity utilization factor (ICUF)

20.9%

18.4%

-

Heat distribution from collectors, million Gcal

0.047

0.040

+15.8%

Total length of power lines, km

6 156

5 918

+4.0%

Grid output, billion kWh

0.723

0.763

-5.3%

The primary drivers of changes in key indicators:

  • An increase in the output of Moldavskaya SDPP by 11.3% due to the growth of supply to Moldova and an increase in consumption by enterprises of the Pridnestrovian Moldavian Republic;
  • An increase in the output of Khrami HPP in Georgia by 43.9% as a result of high water in 2021;
  • A decrease in the output of the Lithuanian Vydmantai Wind Park by 42.3% caused by the dynamics of the wind speed;
  • A reduction in the grid output by JSC Telasi by 5.3% was caused by the impact of COVID-19 pandemic on the economy of Tbilisi (restrictions were imposed in late March 2020 and are currently in force);
  • Construction of lines for new consumers in Tbilisi, and new cable lines for ensuring network redundancy, and reconstruction and modernization of Telasi JSC grids, which resulted in the increase of length of power lines of Telasi JSC by 239 km.

Supply in Russia

Indicator Q1 2021 Q1 2020 +/-

Number of customers, million

17.284

16.881

+2.4%

Total sales of electric energy on the retail market, billion kWh

57.163

53.057

+7.7%

Share of the Russian retail market*

19.0%

18.3%

-

* Share of the Russian retail market - sales on the retail market from total actual consumption of electric energy in Russia (301.5 billion kWh in Q1 2021, and 290.2 billion kWh in Q1 2020 according to the current data from the System Operator of the Unified Energy System of Russia, an increase is an estimated 3.9%).

The number of customers of supply companies continued to increase due to the transition of residents to direct payments to suppliers of last resort and commissioning of residential buildings. LLC RN-Energo continued to engage new clients, which resulted in the increase of the number of customers by 17%.

The volume of sales has increased as a result of lower air temperature in winter 2021.

Commercial export and import of electric energy by Inter RAO Group via Russian border:

Indicator Q1 2021 Q1 2020 +/-

Total exports, billion kWh

5.900

2.940

+100.7%

Including:

Finland

2.119

0.913

+132.1%

the Baltic States

1.794

0.814

+120.3%

Georgia

0.864

0.341

+153.0%

China

0.490

0.374

+31.0%

Kazakhstan

0.348

0.284

+22.8%

Mongolia

0.084

0.067

+25.2%

Azerbaijan

0.024

0.020

+19.2%

Other

0.177

0.126

+40.2%

Total imports, billion kWh

0.364

0.295

+23.4%

Including:

Kazakhstan

0.309

0.235

+31.9%

Lithuania

0.025

0.022

+17.0%

Azerbaijan

0.023

0.022

+2.2%

Mongolia

0.006

0.013

-48.6%

In Q1 2021, foreign trade reached its maximum since 2013, amounting to 6.264 billion kWh.

Climate became the main factor which determined export and import changes: in 2021, there were lower temperatures in winter, combined with low water level; therefore, the load on HPPs in Europe was low, while prices for energy sources were growing. Supply to Finland and the Baltic States increased due to attractive price environment, while the growth of supply to China was due to economic recovery after the slowdown caused by restrictions related to the coronavirus pandemic. Supply to Georgia increased due to a shortage in the country's energy system in Q1 2021, caused by reduced power generation in Georgia combined with increased energy consumption compared to both 2020 and 2019.

Next material:

PJSC Inter RAO Announces RAS Financial Results for the First Quarter of 2021
Consolidated
financial statements
prepared according to
IFRS
for 1Q of 2021
View report

Reference

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 30.8 GW of installed power generation capacity.

www.interrao.ru