Prices for Electricity on the Wholesale Market
Electricity Tariffs
Electricity generation tariffs are established each year by the Federal Tariff Service Order pursuant to Decree No. 109 On Price Formation with regard to Electric and Heat Power in the Russian Federation by the Government of the Russian Federation dd. February 26, 2004.
Tariffs for 2009 were established by the Federal Tariff Service Order No. 272-ý/8 On Tariffs for Electricity (Capacity) Sold on the Wholesale Market under Contracts within Limit (Minimum and Maximum) Volumes of Electricity (Capacity) Sales at Regulated Prices (Tariffs) dd. November 25, 2008.
In 2009 the equilibrium hub price index of “OGK-6” plants in the first price zone was generally reduced vs. price index in 2008 on the non-regulated electricity market. This is due to an essential decrease in power consumption in the Russian Federation from October 2009 caused by financial recession affecting large-scale industrial customers.
Over 2009 there was a slight free market prices growth trend conditioned by gradual power consumption growth in the Russian Federation and quarterly gas prices growth. Compared to 2008, the Wholesale Electricity Market showed lower DAM volatility which resulted from a more even load of plants within peak load periods.
In the second price zone, the free market equilibrium price index was fairly stable with fluctuations due to seasonal factors in the Krasnoyarskaya GRES-2 area. It should be noted that the Sayano-Shushenskaya HPP breakdown on August 17, 2009 did not result in essential price growth on the non-regulated Wholesale Electricity Market despite considerable workload increase for II price zone plants.
Capacity Tariffs
Tariffs for 2009 were established by the Federal Tariff Service Order No 272-ý/8 On Tariffs for Electricity (Capacity) Sold on the Wholesale Market under Contracts within Limit (Minimum and Maximum) Volumes of Electricity (Capacity) Sales at Regulated Prices (Tariffs) dd. November 25, 2008.
Capacity order price for CSC included in the balance of the Federal Tariff Service of the Russian Federation in 2007 shall not exceed the tariff established by the Federal Tariff Service.
