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MOSENERGO (TGC-3)

May 7, 2003

AO MOSENERGO summed up first quarter results

In January-March 2003, the maximum consumption in Moscow region averaged 12,546 MWt. The power consumption increased 5.2% against a similar period last year. AO MOSENERGO's power station produced 21.5 billion kWt-h of electricity, which exceeds the plan by 2.1% and the 2002 level by 7.1%. This resulted from higher consumption by all categories of consumers except for the population. The highest consumption growth in the first quarter was recorded at railways (23%), industry (12%), non-industrial sector (10%). To meet the growing regional demand for electricity during the first quarter, AO MOSENERGO had to purchase 656 million kWt-h of electricity at the wholesale market.

In the first quarter, AO MOSENERGO supplied 32 million GCal of heat, exceeding the plan by 9%. Against last year’s figures, heat supplies grew by 17%, as a result of lower air temperatures, which averaged in January-March -6.2°C. This reading is lower against a similar period in 2002 by 5.2°C. In the first quarter of 2002 AO MOSENERGO supplied to its consumers 30.5 million GCal of heat, which is more than last year by 20%. During the winter season AO MOSENERGO managed fuel supplies to power stations as a result of sufficient fuel accumulation, coordination of additional gas supplies (amounting to 323 million cubic meters) and daily optimization of fuel consumption. When necessary, the company also purchased additional fuel at FOREM (wholesale market).

From January through April, there was not a single breakdown in the AO MOSENERGO system. The number of incidents decreased by 25% as compared to 2002.

During three months of 2002, AO MOSENERGO put into operation more than 62 km of 0.5/6-10 kV rural electricity lines. The company also replaced 42 km of heating lines (28% of the planned amount). AO MOSNEERGO repaired 1 power boiler, 1 turbine generator and 1 peak load water boiler. In addition, the company began repairing 2 power units, 11 power boilers, 8 turbine generators and 1 peak load water boiler. AO MOSNEERGO continues to carry out repairs strictly in accordance with the time schedule.

During the first three months of 2003, AO MOSENERGO receivables increased by 7.2% to 7.8 billion rubles. Profit on sales amounted to 4,116 million rubles, which exceeds the similar 2002 period by 1,968 million rubles. This increase was caused by higher electricity and heat tariffs, as well as higher electricity and heat consumption. AO MOSENERGO's net profit reached 2,276 million rubles. These funds will be spent on the purchase of equipment and materials for AO MOSENERGO.

At the AO MOSENERGO team conference held on April 25, the general director Arkady Yevstafyev said that the heating season is being completed without serious accidents. According to Yevstafyev, this became possible due to the proper preparation of power equipment and creation of fuel reserves. AO MOSENERGO did not have to restrict power supplies to consumers as a result of fuel or capacity shortages. In addition, AO MOSENERGO managed to maintain financial stability and production capacity.

 

 

 

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