Friday, 14 May 2021 Inter RAO Group Consolidated Financial and Operating Results for 1Q of 2021.
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Inter RAO Group Publishes IFRS Interim Consolidated Financial Statements for the First Nine Months of 2020

Inter RAO Group Announces Operating Results for the Nine Months of 2020

26 October 2020

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

Indicator 9 months of 2020 9 months of 2019 +/-

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

31.023

32.860

-5.6%

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

25.200

25.746

-2.1%

Electricity output, billion kWh

77.292

96.970

-20.3%

Installed capacity utilization factor (ICUF)

38.0%

44.7%

-

Heat distribution from collectors, million Gcal

24.854

26.743

-7.1%

Russian generation:

Indicator 9 months of 2020 9 months of 2019 +/-

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

28.246

29.083

-2.9%

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

25.034

25.066

-0.1%

Electricity output, billion kWh

73.450

89.796

-18.2%

Share of electricity output in Russia

9.5%

11.2%

-

Installed capacity utilization factor (ICUF)

39.6%

47.2%

-

Heat distribution from collectors, million Gcal

24.790

26.618

-6.9%

Key factors shaping dynamics of performance indicators in the Generation segment compared to 9M of 2019 were as follows:

  • Completion of foreign projects in 2019: the transfer of the Trakya Elektrik power plant to a Turkish state company in June 2019 (not included in the installed capacity 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;
  • Commissioning of two power units at Primorskaya TPP in the Kaliningrad region with 130 MW of total capacity (the launch of the power plant is planned for December 2020);
  • 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;
  • Increase in the installed capacity (relabeling) of power units in 2020 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 8.1 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 9 months of 2020 9 months of 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

3.842

7.174

-46.4%

Installed capacity utilization factor (ICUF)

21.0%

27.0%

-

Heat distribution from collectors, million Gcal

0.064

0.126

-49.1%

Total length of power lines, km

6 006

5 842

+2.8%

Grid output, billion kWh

1.961

2.155

-9.0%

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 11% 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 the Lithuanian Vydmantai Wind Park by 19% 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 164 km.

Supply in Russia

Indicator 9 months of 2020 9 months of 2019 +/-

Number of customers, million

16.981

16.493

+3.0%

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

138.281

143.431

-3.6%

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 (762.8 billion kWh in 9M of 2020, and 784.4 billion kWh in 9M of 2019 according to the current data from the System Operator of the Unified Energy System of Russia, the decrease is an estimated 2.8%).

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 28.6%.

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 9 months of 2020 9 months of 2019 +/-

Total exports, billion kWh

8.445

13.785

-38.7%

Including:

Lithuania

2.405

4.360

-44.9%

China

2.398

2.376

+0.9%

Finland

1.812

5.238

-65.4%

Kazakhstan

0.860

1.092

-21.2%

Georgia

0.462

0.200

increase by 2.3 times

Mongolia

0.216

0.295

-26.8%

Azerbaijan

0.065

0.075

-13.6%

Other

0.228

0.149

+53.0%

Total imports, billion kWh

0.962

1.214

-20.7%

Including:

Kazakhstan

0.767

0.971

-21.0%

Lithuania

0.053

0.043

+21.4%

Azerbaijan

0.092

0.121

-23.9%

Mongolia

0.033

0.019

+72.5%

Finland

0.017

-

-

Georgia

-

0.059

-100%

Key factors shaping the dynamics of imports and exports:

  • Decrease in prices in the NordPool market in 2020 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 Nine Months of 2020
Consolidated
financial statements
prepared according to
IFRS
for 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 31.1 GW of installed power generation capacity.

www.interrao.ru