July 20, 2021. Moscow,
Russia. PJSC
RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY)
announces operating results for the 2nd
quarter of 2021, of the parent company and subsidiaries of RusHydro
Group reflected in consolidated financial statements.
Total
electricity output in 1H 2021 was at the normal level or above, yet
below year-on-year on the back of high base effect.
Key
highlights of 2Q 2021:
39,564
GWh -
total electricity
generation by RusHydro
Group including Boguchanskaya hydropower plant (-1.9%)
1;
29,503
GWh -
electricity output from hydro and pumped storage plants excl.
Boguchanskaya HPP (-1.7%);
5,628
GWh
– electricity output
from thermal power plants (-6.5%);
4,904
thousand Gcal/h
– heat output from
thermal power plants in the Far Eastern Federal District (+1.3%);
8,788
GWh – sales
by Group’s electricity retail companies in (+3.1% y-o-y).
Key
highlights of 1H 2021:
73,147
GWh - total electricity generation by RusHydro Group including
Boguchanskaya hydropower plant (-6.0%);
49,453
GWh - electricity output from hydro and pumped storage plants in
Boguchanskaya HPP (-9.7%);
14,065
GWh – electricity output from thermal power plants (+0.6%);
17,884
thousand Gcal/h – heat output from thermal power plants in the Far
Eastern Federal District (+5.4%);
21,260
GWh – sales by Group’s electricity retail companies in (+3.9%
y-o-y).
Electricity
generation by the plants of RusHydro Group, GWh
|
2Q'21
|
2Q'20
|
chg, %
|
1H'21
|
1H'20
|
chg, %
|
1H’21 / 1H’19
|
Center of Russia
|
13,251
|
16,386
|
-19.1%
|
21,161
|
28,759
|
-26.4%
|
9.3%
|
South of Russia and North Caucasus
|
2,540
|
2,013
|
26.2%
|
3,726
|
3,282
|
13.5%
|
12.4%
|
Siberia
|
9,079
|
7,541
|
20.4%
|
14,800
|
13,588
|
8.9%
|
38.8%
|
Total for the price zones
|
24,870
|
25,941
|
-4.1%
|
39,687
|
45,629
|
-13.0%
|
19.0%
|
Far East
|
4,160
|
3,567
|
16.6%
|
8,474
|
7,936
|
6.8%
|
28.8%
|
RAO ES East
|
6,214
|
6,627
|
-6.2%
|
15,579
|
15,414
|
1.1%
|
-0.4%
|
TOTAL
|
35,242
|
36,135
|
-2.5%
|
63,739
|
68,978
|
-7.6%
|
14.7%
|
incl. by HPPs, PSPPs 2
|
29,503
|
30,006
|
-1.7%
|
49,453
|
54,774
|
-9.7%
|
19.4%
|
incl. by TPPs and other
|
5,628
|
6,019
|
-6.5%
|
14,065
|
13,978
|
0.6%
|
1.1%
|
Incl. by alt. renewables (geothermal, solar, wind)
|
111
|
110
|
1.3%
|
221
|
226
|
-2.2%
|
0.5%
|
Boguchanskaya HPP 3
|
4,321
|
4,207
|
2.7%
|
9,409
|
8,843
|
6.4%
|
27.8%
|
The underlying factors of the production change in
January-June 2021 were:
water inflows to the reservoirs of the
Volga-Kama cascade, Siberia and the Far East at the normal level or
slightly above, yet below last year’s level;
water inflows to the reservoir of
Chirkeyskaya HPP at the normal level;
increase of electricity consumption in the
Far East by 1.0%
increase of heat output in the Far East
driven by weather conditions.
Heat
output by thermal plants of RAO ES of the East Subgroup, ‘000 GCal
|
2Q'21
|
2Q'20
|
Chg.
|
1H'21
|
1H'20
|
Chg.
|
JSC DGK incl.
|
3,138
|
3,074
|
2.1%
|
12,031
|
11,294
|
6.5%
|
Primorye power system
|
704
|
706
|
-0.3%
|
2,544
|
2,382
|
6.8%
|
Khabarovsk power system
|
1,768
|
1,703
|
3.8%
|
6,836
|
6,502
|
5.1%
|
Amur power system
|
356
|
365
|
-2.6%
|
1,457
|
1,346
|
8.2%
|
South Yakutsk power district
|
310
|
299
|
3.6%
|
1,195
|
1,063
|
12.4%
|
JSC RAO ES East (CHPP Vostochnaya)
|
133
|
166
|
-19.8%
|
499
|
519
|
-4.0%
|
PJSC Yakutskenergo
|
355
|
330
|
7.7%
|
1,521
|
1,398
|
8.8%
|
UES of East
|
3,626
|
3,570
|
1.6%
|
14,051
|
13,211
|
6.4%
|
Yakutsk power system incl.
|
182
|
165
|
10.2%
|
788
|
680
|
15.8%
|
JSC Sakhaenergo
|
10
|
12
|
-14.8%
|
38
|
40
|
-7.0%
|
JSC Teploenergoservice
|
172
|
153
|
12.1%
|
750
|
640
|
17.3%
|
Kamchatka power system incl.
|
416
|
442
|
-5.9%
|
1,167
|
1,203
|
-3.0%
|
PJSC Kamchatskenergo
|
401
|
434
|
-7.7%
|
1,120
|
1,165
|
-3.9%
|
JSC KSEN
|
15
|
8
|
92.8%
|
47
|
38
|
22.6%
|
Magadan power system
|
267
|
249
|
7.3%
|
760
|
723
|
5.1%
|
Chukotka AO power system
|
84
|
91
|
-8.2%
|
232
|
251
|
-7.9%
|
Sakhalin power system
|
330
|
325
|
1.5%
|
888
|
895
|
-0.8%
|
Isolated power systems
|
1,278
|
1,272
|
0.5%
|
3,834
|
3,753
|
2.2%
|
TOTAL
|
4,904
|
4,842
|
1.3%
|
17,885
|
16,971
|
5.4%
|
Electricity
retail
Total electricity output by RusHydro Group’s
energy retail companies in 2Q 2021 increased by 3.0% to 10,763 GWh as
compared to 2Q 2020. In the first half of 2021, output increased by
3.7% to 25,817 GWh as compared to the corresponding period of 2020.
The increase came on the back of climate factor aided by economic
recovery as electricity consumption increased following lifting of
restrictions implemented in 2020 on the back of COVID-19 pandemic
spread.
Electricity
output by RusHydro Group’s retail companies, GWh
|
2Q'21
|
2Q'20
|
Chg.
|
1H'21
|
1H'20
|
Chg.
|
PJSC Krasnoyarskenergosbyt
|
2,554
|
2,365
|
8.0%
|
6,107
|
5,707
|
7.0%
|
JSC Chuvash retail company
|
747
|
692
|
8.0%
|
1,728
|
1,603
|
7.9%
|
PJSC Ryazan retail company
|
565
|
555
|
1.9%
|
1,248
|
1,203
|
3.8%
|
JSC ESC RusHydro
|
360
|
463
|
-22.3%
|
724
|
934
|
-22.4%
|
PJSC DEK
|
4,561
|
4,451
|
2.5%
|
11,452
|
11,026
|
3.9%
|
Total
|
8,788
|
8,525
|
3.1%
|
21,260
|
20,472
|
3.9%
|
Isolated energy systems (for reference)
|
1,975
|
1,924
|
2.7%
|
4,557
|
4,415
|
3.2%
|
Total by Group
|
10,763
|
10,449
|
3.0%
|
25,817
|
24,887
|
3.7%
|
Water
inflows forecast
According to the forecast of the Hydrometeorology
Center of Russia, the following dynamics of water inflows to the
major reservoirs is expected in the 3rd quarter of 2021:
In Siberia, water inflows to
Sayano-Shushenskoye reservoir are expected above the normal level,
to Novosibirskoye reservoir – close to the normal level
In the Far East, inflows to Zeyskoye and
Kolymskoye reservoirs are expected to be close to the long-run
average.
Total water inflows to reservoirs of the
hydropower plants of the Volga-Kama cascade and Chirkeyskoye
reservoir are expected below the normal level or close to it.
1
Hereinafter data is reported excluding Armenia and Primorskaya GRES.
On 11.03.2020 RusHydro has finalized divestment of its assets in
Armenia to PJSC Hrazdan Power Company (HrazTES, Tashir Group).
Primorksaya GRES was sold to SUEK Group in June 2020
2
Includes generation by HPPs of JSC RusHydro, Kolymskaya HPP and
Viluiskie HPPs (RAO ES East Subgroup).
3
The Boguchanskaya hydropower plant is part of the Boguchanskiy Energy
and Metals Complex (BEMO), a 50/50 joint venture (JV) between
RusHydro and UC RUSAL, and is not part of RusHydro Group. According
to RusHydro’s shareholding in the JV (50%), the results of the
plant are reported in the official financial statements in “Share
of results of associates and jointly controlled entities”.
Operations of the HPP have been put into the press-release for
general reference.
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