21.04.2022
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RusHydro Group announces its operating results for 1Q 2022

April 21, 2022. Moscow, Russia. PJSC RusHydro (ticker symbol MOEX: HYDR) announces operating results for the 1st quarter of 2022, of the parent company and subsidiaries of RusHydro Group reflected in consolidated financial statements.


In 1Q 2022 RusHydro Group demonstrates stable output at the long-run average levels.


Key highlights of 1Q 2022:

  • 34,310 GWh - total electricity generation by RusHydro Group including Boguchanskaya hydropower plant (+2.2%) 1;
  • 25,144 GWh - electricity output by hydro and pumped storage plants including Boguchanskaya HPP (+0.4%);
  • 9,049 GWh – electricity output from thermal power plants (+7.3%);
  • 12,224 thousand Gcal/h – heat output from thermal power plants in the Far Eastern Federal District (-5.8%);
  • 11,520 GWh – total sales by Group’s electricity retail companies of ESC RusHydro Subroup (+0.3% y-o-y) 2.


Electricity generation by the plants of RusHydro Group, GWh


1Q'22

1Q'21

chg, %

Center of Russia

7,752

7,910

-2.0%

South of Russia and North Caucasus

1,354

1,185

14.2%

Siberia

5,495

5,722

-4.0%

Far East

14,580

13,680

6.6%

TOTAL

29,181

28,497

2.4%

incl. by HPPs, PSPPs

20,015

19,950

0.3%

incl. by TPPs and other

9,049

8,437

7.3%

Incl. by alt. renewables (geothermal, solar, wind)

118

110

6.9%

Boguchanskaya HPP3

5,129

5,087

0.8%


The underlying factors of the production change in January-March 2022 were:

  • water inflows to the reservoirs of the Volga-Kama cascade and Siberia at the long-run average level or slightly above, but below the level of 2021;
  • water inflows to the reservoirs in North Caucasus and Far East above the normal level.


Center of Russia


Total water inflows to the reservoirs of the Volga-Kama cascade in 1Q 2022 amounted to 27.7 cubic km (normal level 23.5 cubic km).


South of Russia and North Caucasus


Water inflow to Chirkeyskaya hydropower plant at Sulak river was 55% above the normal level.


Siberia


In 1Q 2022 water inflows to Novosibirskoye and Sayano-Shushenskoye reservoirs exceeded the normal level by 10% and 25%, respectively.


Far East


Inflows to Kolymskoye and Zeyskoye reservoirs demonstrated 2-fold and 2.3-fold increase above the normal level, respectively.


Heat output by thermal plants of the Group in the Far East, ‘000 GCal


1Q'22

1Q'21

Chg.

JSC DGK incl.

8,820

9,259

-4.7%

Primorye power system3

2,132

2,205

-3.3%

Khabarovsk power system

4,875

5,068

-3.8%

Amur power system

997

1,101

-9.4%

South Yakutsk power district

816

885

-7.8%

PJSC Yakutskenergo

1,062

1,166

-8.9%

UES of East

9,881

10,425

-5.2%

Yakutsk power system incl.

540

606

-10.9%

JSC Sakhaenergo

23

28

-18.7%

JSC Teploenergoservice

518

578

-10.5%

Kamchatka power system incl.

690

751

-8.1%

PJSC Kamchatskenergo

659

719

-8.3%

JSC KSEN

31

32

-3.2%

Magadan power system

431

493

-12.6%

Chukotka power system

140

148

-5.1%

Sakhalin power system

541

558

-3.1%

Isolated power systems

2,342

2,556

-8.3%

TOTAL

12,224

12,980

-5.8%


Heat output from the Group’s thermal power plants in the Far Eastern Federal District in 1Q 2022 amounted to 12,224 thousand Gcal/h, that is 5.8% lower compared to the similar period of the last year driven by elevated atmospheric temperature levels.


Electricity retail


Total electricity output by RusHydro Group’s energy retail companies increased y-o-y by 0.3% and amounted to 11,520 GWh in 1Q 2022. The increase came on the back of climate factor aided by start of supply to new electricity consumers.


Electricity output by RusHydro Group’s retail companies, GWh


1Q'22

1Q'21

Chg.

PJSC Krasnoyarskenergosbyt

3,369

3,552

-5.2%

PJSC Ryazan retail company

679

683

-0.7%

JSC ESC RusHydro

430

364

18.0%

PJSC DEK

7,043

6,891

2.2%

Total by ESC RusHydro Subgroup

11,520

11,490

0.3%

Isolated energy systems (for reference)

2,558

2,582

-0.9%

Total by RusHydro Group

14,077

14,073

0.03%


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 2022:

  • total water inflows to reservoirs of the hydropower plants of the Volga-Kama cascade are expected within normal range;
  • water inflow to Chirkeyskaya hydropower plant at Sulak river is expected at the normal level;
  • water inflows to the reservoirs at the rivers in Siberia are expected close to the normal levels;
  • In the Far East, inflows to Zeyskoye and Kolymskoye reservoirs are expected to be slightly above the normal level.



1 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.

2Excluding Chuvash retail company. On 23/09/2021 transaction on divestment of 100% stake in Chuvash retail company to Transenergoprom was closed.

3Includes Vladivostokskaya TPP-2 and Vostochnaya TPP managed by JSC DGK but recognized on the balance sheets of PJSC RusHydro and JSC RAO ES East, respectively.

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