Meetings of the Boards of Directors are held in the largest companies of EuroSibEnergo Group in February

In February, meetings of the Boards of Directors were held in the largest companies of EuroSibEnergo Group: OJSC Irkutskenergo and OJSC Krasnoyarskaya HPP; at the meetings, the business plans of the Companies for 2013 were considered.

The business plan of OJSC Irkutskenergo for 2013 stipulates electricity output totaling 59.3 TWh (a 5.1% decrease compared to the expected output in 2012). The decrease is related to the launch of hydroelectric units at the Boguchanskaya HPP, which will result in a decline in electricity generation at CHPPs. At the same time, according to the plan, heat output will remain at the level of the expected output in 2012 amounting to 23.5 mln GCal.

In 2013 the Company intends to allocate RUB 5.9 bln for investments (a 39% increase compared to the amount of capital investments in 2012). The investment plan stipulates the implementation of the following programs: enhancing the reliability and safety of equipment (RUB 3.2 bln), a program on efficient and payback projects (RUB 2.1 bln), non-industrial construction and other investments (RUB 0.6 bln).

The business plan of OJSC Krasnoyarskaya HPP for 2013 stipulates electricity output totaling 13.8 TWh. The forecasts suggest that the market share of electricity generated by the Krasnoyarskaya HPP in the UES Siberia will total 6.6%, which corresponds to the projection for 2012.

The amount of funds that the Company plans to allocate for the implementation of its investment program will exceed the projected level for 2012 (RUB 1 bln). The HPP’s largest upgrade projects include the overhaul of hydroelectric units and a 500 kV outdoor switchgear. Besides, in 2013 OJSC Krasnoyarskaya HPP plans to integrate its Quality Management Systems and Environmental Management Systems in accordance with the requirements of the international ISO 9001 and ISO 14001 standards. As part of its environmental program, the Company intends to replace oil-filled equipment with up-to-date environmentally friendly counterparts.

Evgeny Fedorov, CEO of OJSC EuroSibEnergo: “The increase in investments in the Group’s assets in Siberia enables it not only to enhance the reliability and safety of equipment but also to follow the trends existing in the actively developing Siberian market. Therefore, efficient and payback projects account for a substantial share of investments.”

Press service of OJSC EuroSibEnergo

February 21, 2013
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