RusHydro increased electricity generation by 15%; generation from hydro by 27% in 1Q 2013
JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces the operating results for the 1st quarter of 2013.
- electricity by hydropower plants was up 27% to 22.3 TWh in 1Q 2013 on ample availability of water in the Center and Far East of Russia and launch of Boguchanskaya hydropower plant;
- electricity generation from fossil fuels decreased by 5% to 9.6 TWh on higher hydro output;
- heat output was down 1% to 14 mn GCal;
- good water inflows to all major reservoirs are expected in 2Q during spring flood and ample snowmelt;
- RusHydro ensures safe operation of its hydropower plants during spring flood.
The total electricity generation by power plants of RusHydro and its subsidiaries amounted to 31,962 GWh, a 15% increase as compared to the 1st quarter of 2012. In the 1st quarter of 2013, the hydropower plants of RusHydro increased electricity generation by 27% as compared to the same period of 2012.
Electricity generation in 1Q 2013, GWh
The underlying factors of the production change in 2012 were:
- higher than average water resources in reservoirs in the Far East and Center of Russia following the heavy floods in late 2012;
- water inflow to reservoirs of the Volga-Kama cascade higher than long-run average;
- water inflow to major reservoirs of Siberia slightly higher or close to long-run average;
- launch of the Boguchanskaya hydropower plant into commercial operation in the end of 2012
Center of Russia
As of the beginning of 2013, the useful storage of the Volgo-Kama cascade reservoirs amounted to 69 km3, a 32% higher than long-run average and 54% higher than last year.
In the 1st quarter of 2013, the water inflow in Volga-Kama cascade amounted to 29 km3 as compared to the average of 21 km3. As at the end of the 1st quarter the total accumulation of water in snowpacks in the Volga basin was 24% of long-run average.
In April 2013, the water inflow to major reservoirs of the cascade is expected to be 20-70% higher than normal.
In the 1st quarter electricity generation by RusHydro’s hydropower plants of the Volgo-Kama cascade together with Zagorskaya pumped storage amounted to 10,057 GWh, a 32% increase as compared to the same period of 2012.
In the 1st quarter, water inflow to Sayano-Shushenskaya hydropower plant reservoir was 10% higher than long-run average. The plant is operating under the regime of reservoir drawdown to the level not lower than 500 m, without releasing water through spillways. According to the forecast the water inflow to Sayano-Shushenskaya hydropower plant reservoir in April and in the 2nd quarter of 2013 is expected to be 37% and 11% higher than long-run average respectively.
By of the end of the 1st quarter, the water level of Novosibirsky reservoir was 108 m, which is 30 cm lower than dead storage level (i.e. the minimal level of reservoir under normal conditions).
As of the end of the 1st quarter of 2013 the accumulation of water in snowpacks in the Sayano-Shushenskaya and Novosibirskaya hydropower plants were 32% and 38% higher than long-run average respectively, which may cause higher than normal flood in Siberian rivers.
Currently, the Boguchanskaya hydropower plant is operating under the regime of maintaining of reservoir water level at 185 m.
Total electricity generation by RusHydro’s Siberian hydropower plants in the 1st quarter of 2013 increased by 18% to 6,622 GWh.
South of Russia and North Caucasus
Due to low water inflow in the 1st quarter of 2013 the major hydropower plants of the North Caucasus have been operating in drawdown mode.
The water inflow to Krasnodarskoe reservoir in the 1st quarter of 2013 was 35% lower than long-run average, inflow to the Vladikavkazskaya and Chirkeyskaya hydropower plants was close to normal. In the 2nd quarter of 2013 water inflow to Krasnodarskoe reservoir, the Vladikavkazskaya and Chirkeyskaya hydropower plants is expected to be in line with long-run average.
The electricity generation by the plants of the North Caucasus in the 1st quarter of 2013 rose by 35%; production increased by 35% to 1,421 GWh.
In the 1st quarter of 2013, water inflow to Zeyskaya hydropower plant reservoir was higher than long-run average by 45%, to Bureyskoe reservoir close to normal. Currently, Zeyskoe and Bureyskoe reservoirs are operating in drawdown mode to reach the safe levels.
The over-the-balance production by the Far Eastern hydropower plants (the balance set by the Federal Tariff Service of Russia) was 940 GWh and was a result of additional electricity supply to China, as well as lower production by thermal generators.
The total electricity generated by hydro and geothermal power plants of the Far East in the 1st quarter increased by 26% to 4,122 GWh.
In the 1st quarter of 2013, the generating assets of RAO ES of the East, a subsidiary of RusHydro, generated 9,657 GWh of electricity, a 5% decrease as compared to the 1st quarter of 2012. In 2012, the generation rose by 4.0% to 31,541 GWh.
Of this total, 73% was generated by Far East Generating Company, which decreased production by 6% as compared to last year, mainly due to increased capacity of hydropower plants. In the 1st quarter of 2013 electricity generation by companies operating in isolated energy systems of the Far East decreased by 4% to 2,563 GWh.
In the 1st quarter of 2013, heat output by thermal plants of RAO ES of the East decreased by 1% to 14,042 thousand GCal.
Electricity generation by Sevan-Hrazdan cascade power plants in the 1st quarter increased by 54% to 84 GWh. The power generation of these power plants is dependent on water inflows of Hrazdan river and water releases from lake Sevan.
RusHydro Group operating results for the 1st quarter of 2013 are available on RusHydro’s website at: http://www.eng.rushydro.ru/investors/reports/
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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