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Irkutskenergo announces preliminary results for the year

Preliminary data for the 12 months of 2012 suggest that the forecasted electricity output at the power plants of OJSC Irkutskenergo will total 60.5 bln kWh, which is 2.0 % higher than last year. The output of the HPPs will total 44.6 bln kWh (a 4.1 % decrease year-on-year), while that of the TPPs will amount to 15.8 bln kWh (a 23.4 % increase). The forecasted heat output will total 23.4 mln Gcal, which is comparable to the level reached last year. The forecasted coal production during the 12 months of 2012 will total 16.5 mln tons, which is 4.4 % higher than in 2011 (15.8 mln tons). The increase in production is related to the overall growth of power consumption in Siberia and successful upgrades of equipment. In 2012 the total cost of repair works at OJSC Irkutskenergo amounted to RUB 4,605 mln. RUB 3,061 mln were allocated for the Company’s investments in overhauls and re-equipment of facilities; RUB 692.6 mln were allocated for upgrades.

In 2012 OJSC Irkutskenergo forming part of EuroSibEnergo Group continued consolidating heat distribution networks in various districts of the region (Taishet), as well as outside the region (Sayanogorsk, Khakassia; Nizhny Novgorod). Next year, the Company plans to continue developing this promising business in a number of cities in Siberia and Central Russia. Besides, 2012 saw the development of housing management in Usolye-Sibirskoye and Ust-Ilimsk.

As part of the project on the construction of the Lenskaya TPP, in October OJSC Irkutskenergo acquired the rights to conduct mineral exploration at the Kupsky oil and gas area located in Ust-Kutsky and Nizhneilimsky districts of the Irkutsk Region.

Besides, last year, the Company launched a large-scale housing construction project. The Company started preparing for the construction of four suburban communities in the Irkutsk Region, planning to build 530 thousand square meters of low-rise residential complexes, including 473 thousand square meters of low-cost housing. This project will enable to provide housing for up to 17,500 people. The Company gained the right to lease the sites for housing construction by winning the competition held by the Russian Housing Development Foundation (RHD) in December 2011.

Comments

Evgeny Fedorov, CEO of OJSC EuroSibEnergo and OJSC Irkutskenergo: “Irkutskenergo is one of the few power companies in Russia which are rapidly developing and make large investments in core operations and the prospect of increasing power generation. Many of Irkutskenergo’s projects have been acknowledged to be unprecedented; these include rotor wheels for the Bratskaya HPP, the construction of the Lenskaya HPP, the development of SVBR-100, a small fast-neutron nuclear reactor of the new generation. As part of further strategic development, the Company plans to implement other projects aimed at increasing available and installed capacity, which will be equally ambitious.”

Press service of OJSC Irkutskenergo

December 20, 2012
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