RusHydro increased electricity generation by 15%;
generation from hydro by 27% in 1Q 2013
JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR;
OTCQX: RSHYY) announces the operating results for the
1st quarter of 2013.
Key highlights:
-
electricity by hydropower plants was up 27% to 22.3
TWh in 1Q 2013 on ample availability of water in the Center and Far
East of Russia and launch of Boguchanskaya hydropower
plant;
-
electricity generation from fossil fuels decreased by
5% to 9.6 TWh on higher hydro output;
-
heat output was down 1% to 14 mn GCal;
-
good water inflows to all major reservoirs are
expected in 2Q during spring flood and ample
snowmelt;
-
RusHydro ensures safe operation of its hydropower
plants during spring flood.
The total electricity generation by power plants of
RusHydro and its subsidiaries amounted to 31,962 GWh, a 15%
increase as compared to the 1st quarter of 2012. In the
1st quarter of 2013, the hydropower plants of RusHydro
increased electricity generation by 27% as compared to the same
period of 2012.
Electricity generation in 1Q 2013,
GWh
|
1Q
2013
|
1Q
2012
|
Change, %
|
Far East
|
4,122
|
3,277
|
26%
|
Siberia
|
6,622
|
5,608
|
18%
|
Center of Russia
|
10,057
|
7,625
|
32%
|
South of Russia and North Caucasus
|
1,421
|
1,054
|
35%
|
Armenia
|
84
|
54
|
54%
|
RAO ES of the East
|
9,657
|
10,190
|
-5%
|
TOTAL
|
31,962
|
27,808
|
15%
|
TOTAL (excl. RAO ES of the East)
|
22,305
|
17,619
|
27%
|
The underlying factors of the production change in
2012 were:
-
higher than average water resources in reservoirs in
the Far East and Center of Russia following the heavy floods in
late 2012;
-
water inflow to reservoirs of the Volga-Kama cascade
higher than long-run average;
-
water inflow to major reservoirs of Siberia slightly
higher or close to long-run average;
-
launch of the Boguchanskaya hydropower plant into
commercial operation in the end of 2012
Center of Russia
As of the beginning of 2013, the useful storage of the
Volgo-Kama cascade reservoirs amounted to 69
km3, a 32% higher than long-run average and 54% higher
than last year.
In the 1st quarter of 2013, the water
inflow in Volga-Kama cascade amounted to 29 km3 as
compared to the average of 21 km3. As at the end of the
1st quarter the total accumulation of water in snowpacks
in the Volga basin was 24% of long-run average.
In April 2013, the water inflow to major reservoirs of
the cascade is expected to be 20-70% higher than normal.
In the 1st quarter electricity generation
by RusHydro’s hydropower plants of the Volgo-Kama cascade together
with Zagorskaya pumped storage amounted to 10,057 GWh, a 32%
increase as compared to the same period of 2012.
Siberia
In the 1st quarter, water inflow to
Sayano-Shushenskaya hydropower plant reservoir was 10% higher than
long-run average. The plant is operating under the regime of
reservoir drawdown to the level not lower than 500 m, without
releasing water through spillways. According to the forecast the
water inflow to Sayano-Shushenskaya hydropower plant reservoir in
April and in the 2nd quarter of 2013 is expected to be
37% and 11% higher than long-run average respectively.
By of the end of the 1st quarter, the water
level of Novosibirsky reservoir was 108 m, which is 30 cm lower
than dead storage level (i.e. the minimal level of reservoir under
normal conditions).
As of the end of the 1st quarter of 2013
the accumulation of water in snowpacks in the Sayano-Shushenskaya
and Novosibirskaya hydropower plants were 32% and 38% higher than
long-run average respectively, which may cause higher than normal
flood in Siberian rivers.
Currently, the Boguchanskaya hydropower plant is
operating under the regime of maintaining of reservoir water level
at 185 m.
Total electricity generation by RusHydro’s Siberian
hydropower plants in the 1st quarter of 2013 increased
by 18% to 6,622 GWh.
South of Russia and North
Caucasus
Due to low water inflow in the 1st quarter
of 2013 the major hydropower plants of the North Caucasus have been
operating in drawdown mode.
The water inflow to Krasnodarskoe reservoir in the
1st quarter of 2013 was 35% lower than long-run average,
inflow to the Vladikavkazskaya and Chirkeyskaya hydropower plants
was close to normal. In the 2nd quarter of 2013 water
inflow to Krasnodarskoe reservoir, the Vladikavkazskaya and
Chirkeyskaya hydropower plants is expected to be in line with
long-run average.
The electricity generation by the plants of the North
Caucasus in the 1st quarter of 2013 rose by 35%;
production increased by 35% to 1,421 GWh.
Far East
In the 1st quarter of 2013, water inflow to
Zeyskaya hydropower plant reservoir was higher than long-run
average by 45%, to Bureyskoe reservoir close to normal. Currently,
Zeyskoe and Bureyskoe reservoirs are operating in drawdown mode to
reach the safe levels.
The over-the-balance production by the Far Eastern
hydropower plants (the balance set by the Federal Tariff Service of
Russia) was 940 GWh and was a result of additional electricity
supply to China, as well as lower production by thermal
generators.
The total electricity generated by hydro and
geothermal power plants of the Far East in the 1st
quarter increased by 26% to 4,122 GWh.
In the 1st quarter of 2013, the generating
assets of RAO ES of the East, a subsidiary of RusHydro, generated
9,657 GWh of electricity, a 5% decrease as compared to the
1st quarter of 2012. In 2012, the generation rose by
4.0% to 31,541 GWh.
Of this total, 73% was generated by Far East
Generating Company, which decreased production by 6% as compared to
last year, mainly due to increased capacity of hydropower plants.
In the 1st quarter of 2013 electricity generation by
companies operating in isolated energy systems of the Far East
decreased by 4% to 2,563 GWh.
In the 1st quarter of 2013, heat output by
thermal plants of RAO ES of the East decreased by 1% to 14,042
thousand GCal.
Armenia
Electricity generation by Sevan-Hrazdan cascade power
plants in the 1st quarter increased by 54% to 84 GWh.
The power generation of these power plants is dependent on water
inflows of Hrazdan river and water releases from lake
Sevan.
***
RusHydro Group operating results for the
1st quarter of 2013 are available on RusHydro’s website
at: http://www.eng.rushydro.ru/investors/reports/
About
RusHydro:
RusHydro Group is one of Russia’s largest generating
companies. RusHydro is the leading producer of renewable energy in
Russia with over 70 generating facilities in Russia and abroad. The
company also manages a number of R&D, engineering and
electricity retail companies. Group’s thermal assets are operated
by subsidiary – RAO Energy System of East in the Far East of
Russia. Total electricity generation capacity of the Group is 36.5
GW, heat capacity – 16.2 thousand GCal/h.
Russian Federation owns 65.9% in RusHydro, the rest is
held by other institutional and individual shareholders (over
360,000). The company’s stock is traded on the MICEX and RTS stock
exchanges, and included in MSCI EM и MSCI Russia indexes. Company’s
GDRs in the IOB section of LSE, ADRs – in OTCQX.
For more
information:
JSC RusHydro, Investor Relations
Department
Tel. +7 (495)
225-3232
ext. 1319, 1607
ir@rushydro.ru
DISCLAIMER
The information in this press release may contain
projections or other forward-looking statements regarding future
events or the future financial performance of RusHydro. One can
identify forward-looking statements by terms such as "expect,"
"believe," "anticipate," "estimate," "intend," "will," "could,"
"may" or "might," the negative of such terms or other similar
expressions. We wish to caution you that these statements are only
predictions and that actual events or results may differ materially
from these statements.
We do not intend to update these statements to reflect
events and circumstances occurring after the date hereof or to
reflect the occurrence of unanticipated events. Many factors could
cause the actual results to differ materially from those contained
in our projections or forward-looking statements, including, among
others, general economic conditions, our competitive environment,
risks associated with operating in Russia and rapid technological
and market changes in our industries, as well as many other risks
specifically related to RusHydro and its
operations.
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