RusHydro Group announces its operating results for 1Q 2021
April 20, 2021. Moscow, Russia. PJSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces operating results for the 1st quarter of 2021, of the parent company and subsidiaries of RusHydro Group reflected in consolidated financial statements.
Electricity generation by the plants of RusHydro Group, GWh
The underlying factors of the production change in January-March 2021 were:
Center of Russia
Total water inflow to the reservoirs of the Volga-Kama cascade reached 24.4 km3 (normal level - 23.5 km3), in April water inflow is expected at 47-67 km3 (normal level - 65.9 km3).
South of Russia and North Caucasus
Water inflow to Chirkeyskaya HPP on the Sulak River was close to the normal level. In April 2020 according to Hydrometeorology Center of Russia total water inflow is expected at the normal level as well.
Water inflows to Sayano-Shushenskoye reservoir in the first quarter of 2021 was 1.4x above the normal level. In April 2021, water inflows to Sayano-Shushenskoye and Novosibirskoye reservoirs are expected 30-85% above the normal level.
In 1Q 2021 water inflows to Zeyskoye reservoir was 2.7x the normal level, while inflows to Kolymskoe reservoir were 30% above the normal level. In April, water inflows to Kolymskoye reservoir are expected at the normal level, to Zeyskoye reservoir – above the normal level.
Total electricity generated by RAO ES East subgroup in the first quarter of 2021 amounted to 9,366 GWh, an increase of 6.6% as compared to the first quarter last year.
The main driver behind the production increase was growth of electricity consumption in the region by 6.1% to 8,235 GWh.
Heat output by thermal plants of RAO ES East Subgroup in the first quarter of 2021 increased by 7.1% to 12,980 GCal as compared to the corresponding period of 2020 due to lower air temperatures in the regions of presence of JSC DGK, PJSC Yakutskenergo and JSC Chukotenergo.
Heat output by thermal plants of RAO ES of the East Subgroup, ‘000 GCal
Total electricity output by RusHydro Group’s energy retail companies in 1Q 2021 increased by 4.2% to 15,044 GWh as compared to 1Q 2020. The increase came on the back of climate factor as the average temperature in the first quarter of 2021 was below that of the first quarter of 2020.
Total electricity output by RusHydro’s companies located in the isolated energy systems in the Far East Federal District amounted to 2,577 GWh in 1Q 2021, an increase of 3.4% as compared to the same period last year.
Electricity output by RusHydro Group’s retail companies, GWh
Water inflows forecast
According to the forecast of the Hydrometeorology Center of Russia, the following dynamics of water inflows to the major reservoirs is expected in the 2nd quarter of 2021:
1 Hereinafter data is reported excluding Armenia and Primorskaya GRES. On 11.03.2020 RusHydro has finalized divestment of its assets in Armenia to PJSC Hrazdan Power Company (HrazTES, Tashir Group). Primorksaya GRES was sold to SUEK Group in June 2020
2 Includes generation by HPPs of JSC RusHydro, Kolymskaya HPP and Viluiskie HPPs (RAO ES East Subgroup).
3 The Boguchanskaya hydropower plant is part of the Boguchanskiy Energy and Metals Complex (BEMO), a 50/50 joint venture (JV) between RusHydro and UC RUSAL, and is not part of RusHydro Group. According to RusHydro’s shareholding in the JV (50%), the results of the plant are reported in the official financial statements in “Share of results of associates and jointly controlled entities”. Operations of the HPP have been put into the press-release for general reference.