Documents regulating the risk management system

The main document that determines the goals, objectives and principles of functioning of the corporate risk management system of PJSC RusHydro is the Regulation on Internal Control and Risk Management Policy. The Policy takes into account the methodological achievements of the world's best practices and the main provisions of ISO 31000 Risk Management - Principles and Guidelines adopted by the International Organization for Standardization (ISO) in 2009. Methods for identifying, measuring of and addressing risks take into account the principles of COSO ERM and risk management standards ISO31000 and ISO31010.


Documents regulating the operational management of major strategic risks


Production risks

Investment risks

Market

(marketing risks)

Risks of mergers and acquisitions

  • Regulations on the Process of Forming Production Programs
  • Guidelines of the Analytical Center (as part of the annual Analytical Center's report)
  • Regulations on the Technical Reconstruction and Modernization Project Management System
  • Methodology for assessing the risk of production assets and the effect of options for upgrading equipment based on the real option method and calculating VaR, taking into account the assessment of the reputational consequences of equipment failures
  • Set of standards of the organization's production activities in terms of risk management of individual stages of the life cycle of production assets
  • Regulations on the Process of Managing Investment in the Form of Capital Investment
  • The methodology for risk assessment of projects in terms of return on risk adjusted capital (RORAC)
  • Quarterly reports to the Management Board of the investment subjects on risk management of projects
  • Typical list of risks for the implementation of investment projects as part of the Regulations on the Process of Managing Investment in the Form of Capital Investment
  • Risk registers, risk management action plans and reports on the fulfilment of the action plan of investment projects (on a monthly basis)
  • Regulations on the Policy of PJSC RusHydro in the field of sales activities with respect to operating generation facilities in the price zones of the wholesale electricity and capacity market
  • Procedure for determining the minimum (maximum) indices for electric power of the wholesale market for electricity and power (WMEP)
  • Methodology for evaluating the internal rating of counterparties, ratings of the Company's counterparties in the WMEP calibrated to Moody's scale, with a limit on the credit rating of the contracts portfolio
  • Regulations on planning, preliminary coordination, support and conducting of strategic and other material transactions
  • Registers and risk management plans for the strategic transactions concerned as part of the strategic transaction passports approved by the Management Board

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