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:
Electricity generation by the plants of RusHydro Group, GWh
The underlying factors of the production change in January-March 2022 were:
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.
In 1Q 2022 water inflows to Novosibirskoye and Sayano-Shushenskoye reservoirs exceeded the normal level by 10% and 25%, respectively.
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
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.
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
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:
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.