The main reasons for the reduction of electricity output in the first 9 months of 2014 are the overall decline in electricity consumption in the North-West region, the continued downward trend in the demand for electricity in the day-ahead market, as well as the low water content.

JSC TGC-1 Composite Data for Electricity Output (million kWh)

The low water content of the Kolskiy branch continued to influence the operation of the hydroelectric power plants, causing the total output of the HPPs of the Company to decrease by 6.82% to 8,805 mln. kWh for the reporting period.

The output reduction at the CHPPs to 10,334 mln. kWh was -16.9% relative to the indicators for the first 9 months of 2013. Under these circumstances the Company continues the production capacities workload optimization in favor of more efficient and newer ones. In the current period the new capacities output increased by 4%, which is 23.5% of the total output of JSC TGC-1, or 36% of the CHPPs output. The energy efficient capacities operation also allowed reducing the specific reference fuel consumption for electricity output in the Company on average by 4.7% to 266.76 g/kWh.

The utilization ratio of installed electric capacity directly depends on the volume of production, so for the whole of JSC TGC-1 the figure fell by 5.6 p.p. relative to the same period in 2013 and amounted to 40.4%.

Composite Data for JSC TGC-1 Heat Output (thousand GCal)

The volume of heat produced by the generating enterprises of JSC TGC-1, including JSC Murmanskaya CHPP, in the first 9 months of 2014 amounted to 15,811 thou. Gcal, which is 9% lower than in 2013, due to the weather being warmer in the 1st quarter 2014.