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The Board of Directors of PJSC Inter RAO approved the company's strategy until 2025 with an outlook for 2030

Inter RAO Group Announces Operating Results for the First Six Months of 2020

24 July 2020

Inter RAO Group announces operating results for the first six months of 2020.

Indicator H1 2020 H1 2019 +/-

Installed power generation capacity as at the end of the period, GW

30.893

32.856

-6.0%

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

25.200

25.746

-2.1%

Electricity output, billion kWh

49.978

65.953

-24.2%

Installed capacity utilization factor (ICUF)

37.0%

45.7%

-

Heat distribution from collectors, million Gcal

20.263

22.176

-8.6%

Russian generation:

Indicator H1 2020 H1 2019 +/-

Installed power generation capacity as at the end of the period, GW

28.116

29.078

-3.3%

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

25.034

25.066

-0.1%

Electricity output, billion kWh

47.622

61.049

-22.0%

Share of electricity output in Russia

8.9%

11.0%

-

Installed capacity utilization factor (ICUF)

38.7%

48.5%

-

Heat distribution from collectors, million Gcal

20.206

22.064

-8.4%

Key factors shaping dynamics of performance indicators in the Generation segment compared to H1 2019 were as follows:

  • Completion of foreign projects: the transfer of the Trakya Elektrik power plant to a Turkish state company in June 2019 (not included in the data as of 30 June 2019) and the sale of a stake in the Ekibastuzskaya SDPP-2 to a Kazakhstan state company in December 2019;
  • Decommissioning of three power units from 1 January 2020 and a  generator from 1 May at the Kashirskaya SDPP with the total capacity of 980 MW, as well as decommissioning of a generator at the Iriklinskaya HPP with the capacity of 7.5 MW;
  • A decrease in electricity and heat consumption caused by a higher air temperature in 2020, as well as the impact of the coronavirus pandemic;
  • High water and the associated high loading of HPPs in the UES of Russia due to unloading of heat generation by the System Operator;
  • Relabeling of power units at the Pregolskaya, Mayakovskaya and Talakhovskaya TPPs in the Kaliningrad region as a result of the introduction of new technologies, due to which their total installed capacity has increased by 12.8 MW, as well as relabeling of a power unit at the Karmanovskaya SDPP in Bashkiria (an increase in capacity by 12 MW).

Foreign assets: generation and distribution grids

Indicator H1 2020 H1 2019 +/-

Installed power generation capacity as at the end of the period, GW

2.777

3.777

-26.5%

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

0.166

0.680

-75.6%

Electricity output, billion kWh

2.356

4.904

-52.0%

Installed capacity utilization factor (ICUF)

19.4%

26.9%

-

Heat distribution from collectors, million Gcal

0.057

0.111

-48.7%

Total length of power lines, km

5 966

5 842

+2.1%

Grid output, billion kWh

1.307

1.452

-10.0%

The primary drivers of changes in key indicators:

  • Transfer of Trakya TPP to the state in June 2019 and the sale of the share in Ekibastuzskaya SDPP-2 in December 2019;
  • An increase in the output of Moldavskaya SDPP by 9.1% due to the growth of supply to Moldova;
  • An increase in the output of the Lithuanian Vydmantai Wind Park by 26.4% caused by the dynamics of the wind speed;
  • 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 124 km.

Supply in Russia

Indicator H1 2020 H1 2019 +/-

Number of customers, million

16.933

16.430

+3.1%

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

95.472

99.126

-3.7%

Share of the Russian retail market*

18.1%

18.3%

-

* Share of the Russian retail market - sales on the retail market from total actual consumption of electric energy in Russia (526.3 billion kWh in H1 2020, and 540.8 billion kWh in H1 2019 according to the current data from the System Operator of the Unified Energy System of Russia, the decrease is an estimated 2.7%).

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 21.2%.

The volume of sales has decreased as a result of the impact of the epidemiological situation on the economy, as well as due to the warm winter in 2020.

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

Indicator H1 2020 H1 2019 +/-

Total exports, billion kWh

5.164

9.334

-44.7%

Including:

Lithuania

1.407

2.992

-53.0%

China

1.345

1.295

+3.8%

Finland

1.135

3.928

-71.1%

Kazakhstan

0.556

0.710

-21.6%

Georgia

0.371

0.074

increase by 5 times

Mongolia

0.126

0.174

-27.9%

Azerbaijan

0.043

0.056

-22.2

Other

0.180

0.104

+73.7%

Total imports, billion kWh

0.621

0.813

-23.6%

Including:

Kazakhstan

0.489

0.635

-22.9%

Lithuania

0.032

0.029

+10.6%

Azerbaijan

0.057

0.077

-25.5%

Mongolia

0.025

0.014

+85.0%

Finland

0.017

0

-

Georgia

0

0.059

-100%

Key factors shaping the dynamics of imports and exports:

  • Decrease in prices in the NordPool market in the first half of 2020 is due to the impact of the pandemic on the global economy, as well as due to the warm winter in 2020 and the high water;
  • The growth of export to Georgia due to energy supplies to consumers of Inter RAO Georgia subsidiary;
  • Growth in supplies to China due to economic recovery after the pandemic.

Next material:

PJSC Inter RAO Announces RAS Financial Results for the First Six Months of 2020
Consolidated
financial statements
prepared according to
IFRS
1H 2020
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 30.9 GW of installed power generation capacity.

www.interrao.ru