General Director of IDGC of the North-West, JSC (subsidiary company of IDGC of the Russian Grids, JSC) Alexander Letyagin has presented to the Board of Directors a report of on execution of the Company's Business-Plan (including the investment program) during the 9 months of 2014.
Following the outcome of financial and business activities, the electric power grid company earned net profit in an amount of 101 mln RUB. The financial result of the reporting period has exceeded the planned value by 328 mln RUB. The cause underlying the financial result improvement is miscellaneous incomes growth outstripping that of miscellaneous expenses. The Company’s proceeds during the 9 months of 2014 made 31.9 bln RUB.
Within the framework of the investment program implementation, the actual amount of capital investment assimilation made 3.1 bln RUB, that of new fixed assets commissioning – 2.1 bln RUB. In physical expression, 912.8 km of electric power transmission lines were commissioned.
The power industry specialists also commissioned 97.83 MVA of transformer capacities which exceeds the planned performance three times. The overachievement of targets is due to early discharge of obligations related to connection of preferential category consumers to electric power grids and to commissioning of “Kuznechevskaya” 110 kV substation in Arkhangelsk (first stage of reconstruction completed, 25 MVA transformer commissioned).
In the course of implementation of the Program for Prospective Development of Electric Energy Accounting Systems during the 9 months of the current year, the power industry specialists installed and modernized 1,177 accounting points, having allocated 21.1 mln RUB for the purpose. The program implementation effect is reduction of losses by 14,047 thousand kWh which makes 120% of the planned performance.