Irkutskenergo boosts RAS sales revenue 19% in H1
IRKUTSK. Aug 12 (Interfax) - Sales revenues at power company OJSC Irkutskenergo increased 18.9% year-on-year to 31.635 billion rubles in the first half, as calculated to Russian Accounting Standards (RAS), the company's second-quarter financial report says.
Income from the production of electric power came to 24.466 billion rubles, representing 77.3% of overall sales revenue (72.3% in H1 2010). That "was due to an increase in electrical energy sales volume on the wholesale energy market, as well as to the tariff increase on January 1, 2011," the report says.
Revenue from the production of thermal energy came to 6.375 billion rubles, representing 20.2% of overall income (24.9% in H1 2010). That was due to a decrease in sellable heat output even though tariffs here were also increased at the start of the year.
The report points out that consumers' energy-saving measures contributed to the drop in thermal energy sales. Another reason was Irkutskenergo needing to cut "unpaid for" energy output for consumers owing money for energy resources consumed. With these factors operating, the company will either impose restrictions on heat consumption or keep heat-network temperatures to the minimum levels permitted.
As reported, Irkutskenergo increased net profits 60% to year-on-year to 7.598 billion rubles in the first half.
Irkutskenergo is one of Russia's biggest coal and power companies, with thermal energy and electrical power stations and heating networks, coal mines, transport companies, repair plants, and a beneficiation plant. The company's power stations have installed generating capacity of 12.9 gWt. The mines have combined production capacity of 15.3 million tonnes of coal per year.
The genco is controlled by EuroSibEnergo, which belongs to Russian Aluminum's main shareholder Oleg Deripaska. The state holds 40% of the company's stock.