Electricity Sales
The Company’s revenues in 2009 decreased by 1% versus 2008 to 41,870,322 thousand rubles, and production cost decreased by 10% to 34,154,369 thousand rubles. The Company’s sales profit increased by 3.3 times to 5,080,231 thousand rubles. Net profit in the reporting period increased by 3.5 times and was equal to 2,813,099 thousand rubles.
Income from sales of electricity (63%) and capacity (31%) dominate the revenue structure of JSC “OGK-6”. Sales of heat made up 5% of revenue. Total revenue from sales of electricity, capacity and heat in 2009 equalled 41,427,761 thousand rubles, which is 1% less than in 2008.
The main factors for maintaining the Company’s 2008 level of revenue in 2009 despite the fall in output were:
- electricity tariff growth in the RC segment;
- capacity tariff growth.
Total revenue from sales of heat power in 2009 increased by 9% and made up 2,223,005 thousand rubles.
Revenue from sales of other products (services) resulting from core activities in 2009, which includes revenue from sales of chemically treated water, payment for non-return of condensate, payment for transfer of heat power, revenue from leasing property etc., made up 442,561 thousand rubles, this is 23% more than in 2008.
Total revenue from sales of electricity and capacity in 2008 equaled 39,878,613.3thousand rubles.
Main factors for the growth in the Company’s revenue were increasing sales and prices on the Day-Ahead Market (DAM) and on-going deregulation of the market. In 2008 the Company’s revenue from sales of electricity on the DAM or BM and capacity on the non-regulated market increased by 165.4% (its share in the revenue structure reached 29.5% versus 13.3% a year before), while revenue from sales of electricity and capacity according to regulated contracts decreased by 4.2%.
Total revenue from sales of heat power in 2008 increased by 12.3% and made up 2,036,637.4 thousand rubles.
The main factors of the Company’s revenue growth in 2008 vs. 2007 were as follows:
• 14% output growth up to 38,857 million kWh;
• twofold growth in the share of sales revenue on the electricity open market (DAM and BM);
• 15% sales price growth on the DAM and BM;
• 10% increase in the power rates in the regulated market segment.
