Mosenergo Rises After Power-Output Forecast Exceeds Industry’s

OAO Mosenergo, the electricity generator serving Moscow, climbed the most in the 30-stock Micex Index after Troika Dialog forecasts a smaller drop in power output at the generation company than for other companies.

“We currently expect Mosnergo’s electricity output to decline 3 percent year-on-year in 2009 versus a 6.7 percent anticipated drop for Russia as a whole,” Troika Dialog analysts Alexander Kotikov and Igor Vasilyev wrote in a note today.

Mosenergo surged 29 percent to 1.536 rubles at 5:11 p.m. on the Micex Stock Exchange after jumping 20 percent on April 10.

The Moscow-based brokerage also said the Energy Ministry’s moves to “ease the burden of capex over the next few years” will benefit shares of Russian generation companies.

OAO TGK-1, a regional generator controlled by OAO Gazprom, jumped 31 percent to 0.55 kopeks, heading for its biggest advance in six months. The Micex Power Index advanced 6.6 percent, compared with a decline of 0.4 percent for the principal Micex Index.

To contact the reporter on this story: William Mauldin in Moscow at wmauldin1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.