2 Nov 2009 19:02

TGK-4 genco posts profit in 9M

MOSCOW. Nov 2 (Interfax) - The Onexim group's TGK-4 territorial generating company had net profit of 1.284 billion rubles in January-September 2009, compared with net losses of 33.6 million rubles in the same period of last year, the company said.

The company said it had quarterly rather than one-off tariff increases (on January 1) for electricity and heat, and exchange-rate gains to thank for the profit.

However the company thinks the effect of the quarterly tariff rises will wear off in the year as a whole.

Net losses were 212.8 million rubles in Q3 2009.

TGK-4 runs ten combined heat and power plants in central Russia with total capacity of 3,300 megawatts electricity and 17,600 Gcal/h heat.