OGK-2 net profit rises 1.3% in Q1
MOSCOW. April 29 (Interfax) - OGK-2 boosted net profit 1.3% to 2.3 billion rubles in the first quarter of 2011, up from 2.25 billion rubles in the same quarter last year, the genco said in a statement.
OGK-2 posted a net loss of 760 million rubles in the fourth quarter last year.
Profit rose in the first quarter due to rising prices on the wholesale electricity and capacity market in the regions where OGK-2 operates.
OGK-2 is controlled by Gazprom . The company includes the Pskovskaya, Serovskaya, Stavropolskaya, Surgutskaya-1 and Troitskaya district power plants (GRES). OGK-2 is also building a new power plant in Adler. Installed capacity totals 8,707 MW.
Shareholders will vote at the annual meeting on June 21 on a merger with another Gazprom-controlled power company, OGK-6 .
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