rushydro-sp gdr 144a (RSHRL) Key Developments
RusHydro Approves 2015-2019 Investment Program
Apr 30 15
The board of directors of RusHydro has approved the 2015-2019 investment program at RUB 289 billion (including VAT). The plan stipulates adding 1,039.48 megawatts of electricity capacity and 875.8 Gcal/hr of heat capacity. The program allocated RUB 206.6 billion for technical re-equipment and reconstruction of existing facilities.
RusHydro Group Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 29 15
RusHydro Group reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, revenue was RUB 23,703 million against RUB 26,918 million a year ago. Operating profit was RUB 9,859 million against RUB 12,979 million a year ago. EBITDA was RUB 13,315 million against RUB 16,172 million a year ago. Net profit was RUB 8,743 million against RUB 9,664 million a year ago. Adjusted net profit was RUB 8,363 million against RUB 10,202 million a year ago. The underlying factors behind the change in revenue were: decrease in production and electricity output by hydropower plants of JSC RusHydro by 28% in the first quarter 2015 as compared to last year; an incremental increase in unregulated power prices on the day ahead market in the first pricing zone against the background of decreasing electricity consumption and non-indexation of gas tariffs for industrial consumers starting from the second half of 2014 as a result of one-year tariff freeze for natural monopolies introduced by the Russian government in the end of 2013; increase in day-ahead prices in the 2nd pricing zone due to decrease in electricity generation by hydropower plants and higher load of fossil fuel fired power plants; and increase in capacity sales following liberalization of hydro capacity market in the second price zone from May 1, 2014.
JSC RusHydro Announces Consolidated Operating Results for the First Quarter of 2015
Apr 23 15
JSC RusHydro announced consolidated operating results for the first quarter of 2015. For the first quarter, the company’s total electricity generation by power plants of the company was 26,634 GWh against 31,121 GWh a year ago, a decrease of 14.4%. The company’s total production by hydropower and pumped storage plants in first quarter 2015 was 16,713 GWh against 22,746 GWh a year ago, a decrease of 26.5%. The company’s output by fossil fuel fired and geothermal plants located in the Far East were 9,921 GWh against 8,375 GWh a year ago, an increase of 18.5%.
Dagestan Branch of JSC RusHydro Completes Reconstruction of Hydroelectric Unit 1 at Miatlinskaya HPP
Apr 21 15
The Dagestan branch of JSC RusHydro has completed reconstruction of hydroelectric unit 1 of the Miatlinskaya hydroelectric power plant with a capacity of 110 MW. The engineers have replaced the runner, the automatic control system, the excitation and adjustment system, the generator electric protection system as well as the turbine covers. The new equipment was supplied by Voith Hydro under an agreement concluded with RusHydro in 2011. The reconstruction was part of RusHydro's comprehensive modernization program. In May 2015, the runner replacement will commence at hydroelectric unit 2 of the HPP.
Open Joint-Stock Company Federal Hydro-Generating Company - RusHydro, Board Meeting, Apr 29, 2015
Apr 15 15
Open Joint-Stock Company Federal Hydro-Generating Company - RusHydro, Board Meeting, Apr 29, 2015. Agenda: To consider the business-plan of the company for 2015-2019; to consider the approval of the list of investment projects earmarked for technological assessment and price audit in 2015-2016; to consider the combining positions by the Management Board members in the governing bodies of other organizations; to consider the approval of the company's transactions; to consider the annual analysis of the results of creation of the unified treasury of the company; to consider the participation and termination of participation of the company in other organizations; to consider the stationing positions of the company on the agenda of the governing bodies of the company's subsidiaries and affiliates; and to consider the procurement policy of the company.