14 Dec 2010 19:55

Kuzbassenergo expects net profit of 500 mln-600 mln rubles in 2010

KEMEROVO. Dec 14 (Interfax) - Kuzbassenergo (TGK-12) expects to post a net profit of 500 million-600 million rubles in 2010 under Russian accounting standards, Executive Director Yury Sheibak said at a press conference on Tuesday.

"That is 50% less than targeted," he said.

The company had a net profit of 6.716 million rubles in 2009 compared with a net loss of 2.141 billion rubles in 2008. Sales revenue in 2009 rose 23.7% to 25.888 billion rubles.

Electricity generation this year will rise 9%, the result of "increased production at thermal plants owing to the problems at the Sayano-Shushenskaya Hydroelectric Station." Output of heat is slated to rise 5%-10% this year owing to the colder-than-usual weather in the beginning of 2010. Kemerovo Azot has increased consumption of heat energy from the Novo-Kemerovskaya Combined Heat and Power Plant, he said.

It was reported earlier that Kuzbassenergo generated 22.22 billion kWh of electricity in 2009, 5.9% less than in 2008. Output of heat edged down 0.8% to 14.956 million Gcal.

TGK-12 includes six power plants in Kemerovo region and three in Altai territory. Installed capacity amounts to 4,500 megawatts of electricity and 8,905 Gcal/hr of heat.