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December 30, 2015

Rosseti improve main performance indicators and expect profits according to IFRS at the end of the year

In 2015, Rosseti PJSC continued steady development and achieved positive results in all major production and financial indicators despite difficult macroeconomic conditions.
In the first 11 months of 2015, the specific accident rate at Rosseti decreased by 27% year-on-year, with 5.82 as opposed to 7.95 technological issues per 1,000 pieces of equipment a year.
In the period from January to November of this year, the undersupply of energy amounted 44,803 thousand kW/h, which is 37% year-on-year.
The main task of electric grid companies has been achieved: electricity has been reliably shipped to consumers. To this end, a total of 5,249 transformers with a capacity of 35+ kW have been repaired (representing 108.1% of the annual plan); along with 40,461 transformer substations (111.2% of the annual plan), and 70,856 pieces of switching equipment (103.1% of the annual plan).
A total of some 175,000 km of power transmission lines have been repaired (113.7% of the annual plan), a territory of some 130,000 hectares has been cleared (103.5% of the annual plan), and more than 15,000 hectares of clearing for overhead cables (104% of the annual plan) have been expanded.
Rosseti Group expects to receive increased consolidated revenues according to IRFS. Net profits are being forecast according to IRFS as compared with losses a year ago.
This year, Rosseti continued working on making energy grid services more accessible.
For applicants from the category from 15 to 150 kW, technical support contract terms in 2014 and 2015 based on applications before 2013 were executed in the first 10 months of 2015 on average in 131 days, which is 15% less year-on-year.
Payment for technical support has also been reduced. In the first 9 months of 2015, it amounted to RUB 1,940/kWh, which is 26% less year-on-year.
One of the most impressive results that the Russian Federation has achieved in the Doing Business 2016 rating is an increase by 114 positions on the “Joining electricity grids” indicator. The efforts of affilitated companies of Rosseti, MOESK and Lenenergo, aimed at improving the accessibility of electrical grid services, were positively assessed by experts of the international organization, and allowed Russia to rise from the 143rd to the 29th position in this category of the rating.
As a result of implementing the electric grid asset consolidation program approved in 2011-2015 by affiliated structures of Rosseti, the company acquired transformer substations with a total capacity of more than 5,000 MWA, and more than 21,000 km of power transmission lines; transformer substations with a capacity of around 7,000 MWA and 35,000 km of power transmission lines were leased.
Costs were cut, and cooperation projects with small and mid-sized business expanded. In the first 9 months of 2015, the purchase volume of the Rosseti Group of Companies amounted to 22,000 purchasing procedures for a total of RUB 225 bln. The economic effect of competitive procedures amounted to RUB 19.8 bln or 8.1%.
The share of purchases from small and mid-sized business (since July 1, 2015) amounted to 43.1% or RUB 29.5 bln. The share of direct purchases (special tenders) from small and mid-sized business (since July 1, 2015) amounted to 8% or RUB 5.5 bln.
Considerable success is being achieved in projects involving integration and international cooperation. In particular, an agreement has been signed on the creation of a joint venture with the Chinese State Energy Corporation. Negotiations are underway to build energy bridges (EU-Russia-China, Large Asia Ring, Russia-Iran), as well as operations within the BRELL group.
In line with tradition, much attention was paid to cooperation with foreign equipment manufacturers (including production localization services in Russia) and dialog with Asian financial institutions. 




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