Gazprom Energoholding expects 2011 IFRS sales revenue and EBITDA to increase for OGK-2, Mosenergo and TGK-1
MOSCOW. Nov 2 (Interfax) - LLC Gazprom Energoholding (GEH, which controls Gazprom's power assets), expects the IFRS sales revenue and EBITDA results to increase for all of its generating companies, OJSC OGK-2 , OJSC Mosenergo and OJSC TGK-1 , the holding said in its materials, which have been seen by Interfax.
For instance, the holding expects sales revenue for the newly unified OGK -2, which recently acquired OJSC OGK-6 , to reach 107.1 billion rubles, which is 120% above the genco's revenue 2010 (47.9 billion rubles without OGK-6's results). OGK-2's EBITDA is forecast to increase by 37% to 6.7 billion rubles (from 4.9 billion rubles for 2010 without OGK-6's results).
GEH expects Mosenergo to post even better results than the genco itself earlier forecast. For instance, the genco's sales revenue should go up by 11% to 1623 billion rubles (compared to an earlier forecast of 8% growth to 157 billion rubles). Mosenergo's EBITDA will likely increase by 20% to 24.1 billion rubles (compared to earlier forecast 14.4% growth, reaching 23 billion rubles).
According to GEH's forecasts, TGK-1 will post 68 billion rubles in sales revenue for this year, which would be an increase of 26% over 2010's result. The genco's EBITDA will likely go up by 3% to 13 billion rubles.
According to the holding, OGK-2's electricity production will increase by 70% to 81.7 billion kilowatt hours. The genco's heat production will increase by 170% to 6.5 million Gcal.
GEH expects Mosenergo's electricity and heat production to decrease this year. Total electricity output should go down by 0.7% to 64.5 billion kilowatt hours while heat production will decrease by 1.54% to 68.8 million Gcal.
TGK-1's electricity and heat production is expected to vary this year. For instance, electricity output will likely increased by 6.7% to almost 29 billion kilowatt hours. At the same time, heat production should decrease by 11.45% to 25.5 million Gcal.
OGK-2 finished its integration of OGK-6 on November 1. In addition to OGK-2's capacity of 8.7 gigawatts (Serovskaya, Troitskaya, Stravropolskaya and Pskovskaya GRES, as well as Surgutskaya GRES-1), the genco also includes almost 9.2 gigawatts in capacity from the liquidated OGK-6 (the Kirishskaya, Novocherkasskaya, Ryazanskaya, Cherepotvetskaya and Krasnoyarskaya-2 GRES power stations)
Mosenergo is one of Russia's leading generating companies. The genco's total capacity comes to around 12 gigawatts. Moscow's government holds a blocking packet in the genco.
TGK-1 unites 55 electricity stations in St. Petersburg, Karelia, Leningrad and Murmansk regions. The genco's installed capacity for electricity production comes to 6,315 megawatts and heat output - 14,362 Gcal per hour.