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Inter RAO Group's Suppliers of Last Resort Announce RAS Financial Results for the First Six Months of 2017

* Reports are available for the following sales subsidiaries with the status of supplier of last resort: Moscow Energy Sales Company (MESC), St. Petersburg Energy Sales Company (PSC), Saratovenergo, Altai Energy Sales Company (Altai ESC), Tomsk Energy Sales Company (Tomsk ESC), Tambov Energy Sales Company (Tambov ESC) and LLC Power Supply Company of Bashkortostan.

The following key factors determined changes in operating and financial results of suppliers of last resort within Inter RAO Group:

  • Inclusion of LLC Power Supply Company of Bashkortostan in the Group in December 2016;
  • Higher average cost of purchased capacity in most operating regions of the Group's  suppliers of last resort due to capacity price increases in the more expensive WECM sectors;
  • Higher grid operator rates due to the indexation of electricity transmission tariffs;
  • Increase in the number of operating regions and new power supply agreements with commercial and residential consumers, and continuing transition of customers from third parties including those without the status of supplier of last resort;
  • Development of Value-Added Services (VAS) Segment;
  • Several large consumers coming on WECM.

Operating and financial results of suppliers of last resort:

Indicator Moscow Energy Sales Company PSC Saratovenergo Altai Energy Sales Company Tomsk Energy Sales Company Tambov ESC LLC Power Supply Company of Bashkortostan
First six months of 2017 Change, year-on-year Firstsix months of 2017 Change, year-on-year Firstsix months of 2017 Change, year-on-year First six months of 2017 Change, year-on-year First six months of 2017 Change, year-on-year First six months of 2017 Change, year-on-year First six months of 2017 Change, year-on-year
Revenue 156.9 12.9% 60.9 6.4% 9.8 13.4% 6.4 1.3% 6.1 (9.6%) 2.9 17.5% 18.2 10.6%
Operating expenses 154.4 12.4% 60.7 8.0% 9.7 14.5% 6.4 1.0% 6.0 (9.9%) 2.8 14.5% 17.4 10.8%
Profit (loss) from sales 2.5 53.8% 0.2 (79.5%) 0.2 (22.8%) 0.05 72.1% 0.2 (1.1%) 0.04 - 0.8 8.0%
Net income/(loss) 0.7 348.4% 0.4 (68.8%) 0.008 (51.7%) (0.04) - 0.0005 - 0.004 - 0.5 38.9%
Electricity sales by volume, billion kWh 43.7 4.6% 18.2 0.01% 3.1 1.9% 2.2 0.9% 2.2 (22.3%) 0.8 4.8% 7.0 3.3%

* Billion rubles unless indicated otherwise

For more details on RAS operating results of the sales subsidiaries of Inter RAO Group that are suppliers of last resort for the first six months of 2017, please visit their official websites:

Moscow Energy Sales Company St. Petersburg Energy Sales Company Saratovenergo Altai Energy Sales Company Tomsk Energy Sales Company Tambov ESC LLC Power Supply Company of Bashkortostan
Press release Press release Press release Press release Press release Press release Press release
Statements for the first six months of 2017 Statements for the first six months of 2017 Statements for the first six months of 2017 Statements for the first six months of 2017 Statements for the first six months of 2017 Statements for the first six months of 2017 Statements for the first six months of 2017

Next material:

Russian Power Generation Companies of Inter RAO Group Announce RAS Financial Results for the First Six Months of 2017
Consolidated
financial statements
prepared according to
IFRS
for 1H 2017
View report

Reference

Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.

The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 32 GW of installed power generation capacity.

www.interrao.ru