17 Nov 2009 18:30

OGK-2 revenue falls 7.74% in 9 mths

MOSCOW. Nov 17 (Interfax) - OGK-2 revenue fell 7.74% in January-September year-on-year to 29.145 billion rubles, the company said in its earnings statement.

Revenue declined due to falling volumes of electricity and capacity sold under regulated agreements. The average price of electricity on the day-ahead market was down 12.77% compared with the same period last year.

Production costs declined 10.60% in the period to 26.05 billion rubles. Gross profit tripled to 3.095 billion rubles.

It was reported earlier that OGK-2 posted a net profit of 1.36 billion rubles in the nine months, compared with a net loss of 219 million rubles in the same period last year.

OGK-2 controls the Pskov, Stavropol, Surgut-1, Troitsk and Serov district power plants (GRES) with combined capacity of 8,700 megawatts.