KALININGRAD MOSCOW PERM ULAN-UDE CHITA
Severo-Zapadnaya TPP Kaliningradskaya TPP-2 Kashirskaya TPP Pechorskaya TPP Kostromskaya TPP Ivanovskiye CPP Cherepetskaya TPP Urengoyskaya TPP
Permskaya TPP Dzhubginskaya TPP Verkhnetagilskaya TPP Sochinskaya TPP Yuzhnouralskaya TPP Iriklinskaya TPP ANNUAL REPORT 2012 Kharanorskaya TPP
Gusinoozyorskaya TPP
ANNUAL REPORT 2012 AT A SYNCHRONOUS PACE
WWW.IRAO-GENERATION.RU ANNUAL REPORT 2012
OPEN JOINT-STOCK COMPANY INTER RAO - ELECTRIC POWER PLANTS
OJSC INTER RAO – Electric Power Plants 2012 Annual Report
Provisionally approved by the OJSC INTER RAO – Electric Power Plants Board of Directors on May 2013 (Minutes No.79 dated May 31, 2013)
General Director G.F. Binko
Chief Accountant M.R. Evdokimova 2012 2012
ANNUAL REPORT CONTENTS ANNUAL REPORT
■ Address from the Chairman of the Board of Directors of Corporate Management Structure and Principles 146 OJSC INTER RAO – Electric Power Plants 4 Principles and Documents 146 3
2 ■ Address from the General Director of LLC INTER RAO – Management and Supervision Bodies 147 Electricity Generation Management, the managing company ■ General Meeting of Shareholders 147 of OJSC INTER RAO – Electric Power Plants 6 ■ Board of Directors 147 ■ Board of Directors Fees 150 Information on the Company and its Position in the Industry 10 ■ Information on Management Bodies 151 INTER RAO’s Priorities 10 ■ Audit Commission 151 A Brief Review of the Company’s History 12 Internal Control System 152 CONTENTS Main Events of 2012 13 Auditor 153 Information on Plants 14 Information on Risks and the Risk Management System 47 CONTENTS Personnel and Social Policy 156 Financial and Economic Performance Overview 56 Personnel Structure 157 Remuneration 159 Revenue 56 Social Policy Principles and Milestones 160 Production Costs 58 Other Expenses and Income 59 Profit 59 Charity 164 Balance Structure 62 Financial Performance of the Company in 2012 69 Protecting the Environment 168 Environmental Policy Principles and Milestones 169 Industrial Activity 72 Qualitative Evaluation of the Company’s Environmental Impact in 2012 169 Electricity Generation 72 The Company’s Nature Conservation Activities in 2012 172 Heat Generation 75 The Company’s Environmental Objectives for 2013 173 Specific Reference Fuel Consumption (SRFC) Used to Generate Electricity and Heat 75 Fuel Consumption 77 Financial Statements 176 Maintenance and Repair of Power Generating Equipment 87 Audited Report for 2012 Financial Statements in Accordance with Russian Accounting Standards (RAS) 176 Electricity and Heating Sales 92 Accounting Reports for 2012 in Accordance with Russian Accounting Standards (RAS) 178 Information on the Structure of the Electricity Market 92 Electricity Sales 97 Appendices 185 Capacity Sales 104 Appendix 1. Information on Observing the Code of Corporate Conduct by Heat Supply 109 OJSC INTER RAO – Electric Power Plants 185 Appendix 2. Information on Large-scale and Related Party Transactions 186 Investment Activities 116 Appendix 3. Information on Energy Resource Volumes Used in 2012 188 Priority Investment Projects 116 Appendix 4. OJSC INTER RAO - Electric Power Plants Primary Equipment Characteristics 188 Technical Re-equipment and Modernization of Existing Industrial Facilities 123 Investment Activity Results in 2012 130 Contacts 201 ■ Company Details 201 Purchasing Activities 134 ■ Contacts for Shareholders 201 Basic Principles of the Company’s Purchasing Policy 134 ■ Contacts for the Press 201 Implementation of the Annual Comprehensive Purchasing Plan (ACPP) in 2012 136 ■ Company Auditor 201 Annual Purchasing Reports 137 ■ Company Registrar 201
Charter Capital, Securities and Dividend Policy 142 2012 2012
ANNUAL REPORT ANNUAL REPORT
ADDRESS FROM THE CHAIRMAN OF THE BOARD
OF DIRECTORS OF OJSC INTER RAO – ELECTRIC 5 4 POWER PLANTS ADDRESS FROM THE CHAIRMAN THE FROM ADDRESS
We present to you the Annual Report covering nine months of 2012) made 42.5 billion rubles, of DIRECTORS OF BOARD THE OF the activities of OJSC INTER RAO - Electric which 36.5 billion rubles have been invested into Power Plants in 2012. new construction projects with another 6 billion rubles invested in financing the Company’s re- The key event for us last year was the completion equipment and reconstruction program. of the consolidation process of INTER RAO UES Group’s generating assets: On October 1, It is also important to note that as of the end of 2012, the industrial facilities that were previously the reporting period, the Company had very low OF THE BOARD OF DIRECTORS
ADDRESS FROM THE CHAIRMAN owned by OJSC OGK-1 and OJSC OGK-3 leverage. As part of the Company’s accounts were merged with OJSC INTER RAO - Electric payable, there was no borrowed capital. This fact Power Plants. OJSC OGK-1 and OJSC OGK-3, demonstrates the high level of financial stability therefore, were dissolved and the shareholders and independence of the business as well as the of these companies were given the opportunity to availability of opportunities for using, as needed, convert their shares into attractive, highly-liquid additional external finance (with favorable terms). OJSC INTER RAO UES shares with considerable potential for growth. The main priority of the Company in 2013 is the further implementation of the investment The completion of the Company’s reorganization program, which, among others, provides a enabled for the creation of a unified operating significant increase in the installed power capacity profile for corporate management of INTER of the plants that are part of OJSC INTER RAO - RAO UES Group’s generating assets and for the Electric Power Plants and the decommissioning laying down of a reliable platform for growth in of obsolete equipment through the construction production efficiency and the financial stability of new modern power generation units. of the business. I am absolutely confident that the Company’s Thus, a very major step was taken toward management is fully aware of the objectives set the Company’s ambitious strategic objective by its shareholders and will successfully achieve to achieve a leading position in the Russian them ensuring further growth of the value of the generation market. business.
The annual volume of investment as part of OJSC Alexander Matveev, INTER RAO - Electric Power Plants’ investment program (taking into account the financing of Chairman of the Board, OJSC INTER RAO - OJSC OGK-1 and OJSC OGK-3 during the first Electric Power Plants 2012 2012
ANNUAL REPORT ANNUAL REPORT
ADDRESS FROM THE GENERAL DIRECTOR
OF LLC INTER RAO – MANAGEMENT OF ELECTRIC 7 6 POWER PLANTS, THE MANAGING COMPANY OF OJSC INTER RAO – ELECTRIC POWER PLANTS ADDRESS FROM THE GENERAL THE FROM ADDRESS
operating electric power plants, plus one that is and the implementation of measures to reduce of Olympic Facilities and the Development of the DIRECTOR being built between Kaliningrad and Transbaikal, its impact on the environment and raise energy City of Sochi as a Mountain Resort.» with total installed power capacity of 19.7 GW. efficiency have become important components DIRECTOR DIRECTOR of the Company’s corporate social responsibility Along with that, there is a number of tasks The completion of the merger has caused a jump program. before the management of OJSC INTER RAO
ADDRESS FROM THE GENERAL in the value of the Company’s assets, which, as – Electric Power Plants associated with further per the 2012 results, exceeded 229 billion rubles, In 2013, the implementation of OJSC INTER RAO improvements in synergy in the operation of the of which more than 74% are fixed assets. – Electric Power Plants’ investment program will consolidated assets and ensuring the growth of be continued. The following are scheduled to be key financial and production results. Simultaneously, as part of the Company’s long- commissioned in 2013: term strategy that it is focused on achieving by It is my opinion that the managing company and ■ Power unit No.4 with installed power capacity the year 2020, the absolute leadership among plant personnel of OJSC INTER RAO – Electric of 210 MW at the Gusinoozyorskaya TPP; Russian generating companies in terms of Power Plants will make every effort and use all efficiency, reliability and safety criteria, OJSC ■ Power unit No.1 with installed power capacity their experience to meet all of the objectives set INTER RAO – Electric Power Plants has continued of 400 MW at the Yuzhnouralskaya TPP -2; by its shareholders. the implementation of its large-scale investment ■ Power unit No.8 with installed power capacity program. of 225 MW at the Cherepetskaya TPP. Gennady Binko, In 2012, construction of three modern power Finally, an event important to the Company generation units was completed: In the first half of is scheduled to take place in 2013 – the General Director of LLC INTER RAO – 2012, a 325 MW CPP power unit was commissioned commissioning of the Dzhubginskaya TPP that is Management of Electric Power Plants, the at the Ivanovskiye CPP; in the second half – a being built as part of the «Program for Construction managing company of OJSC INTER RAO – In summing up the results of 2012, first of all, 460 MW CPP power unit at the Urengoyskaya Electric Power Plants I would like to note that it was the first year of TPP; and a 225 MW coal-based power unit at the operational activities for OJSC INTER RAO – Kharanorskaya TPP was commissioned. Electric Power Plants. From January 1, 2012 the Company started working in the electric power In 2012, the headcount at the electric power plants and sales market (before that, the operation of of OJSC INTER RAO – Electric Power Plants four industrial facilities owned by the Company, amounted to 12 765 people. as of the beginning of the year, was performed by OJSC INTER RAO UES on a lease basis). At the same time, paying great attention to improving the qualifications of our personnel and In October 2012 the process of reorganizing of to their training, the Company has continued to the Company was completed and the generating actively develop personnel training programs assets previously owned by OJSC OGK-1 having invested more than 65 million rubles. and OJSC OGK-3 were consolidated into the Company. As a result, the Company has become Also, charity initiatives aimed at maintaining social a unified, well-organized structure comprising 15 stability in the regions that the Company operates Kaliningrad Time MSK–1 (UTC+3)
AT A SYNCHRONOUS PACE 08:00 Spanning a territory from Kaliningrad to Transbaikal, the company’s power stations run synchronously despite the distances and difference in time zones KALININGRADSKAYA TPP-2 2012 2012
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THE COMPANY’S ■ diversifying the customer base by directly OUR MISSION INFORMATION PRIORITIES approaching electricity and capacity end users; 11 ■ directly participating in electricity retail Our mission is to facilitate continuing economic 10 ON THE markets; growth and increase living standards in all of the The main business activities of OJSC INTER regions that we operate by providing reliable ■ ensuring active communication with state RAO – Electric Power Plants (hereinafter the electricity supply services, satisfying the growing COMPANY AND authorities and non-commercial partners on issues INDUSTRY THE IN POSITION ITS AND “Company”) are: need for electricity, and introducing innovative COMPANY THE ON INFORMATION related to the growth of the Russian electricity and technologies and solutions in the field of energy ■ electricity and heat generation; capacity markets in order to ensure maximum ITS POSITION IN efficiency and conservation. liberalization, transparency and competition. ■ electricity and heat supply (sales). THE INDUSTRY Regarding investment: STRATEGIC OBJECTIVES OF OJSC In the different spheres and areas of OJSC ■ focusing on those regions with the fastest- INTER RAO – ELECTRIC POWER INTER RAO – Electric Power Plants, its priority growing demand for electricity and capacity PLANTS activities are: (current or anticipated); ■ To create conditions ensuring the reliability and INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY Regarding existing capacities: ■ pursuing a rational investment policy aimed safety of the power supply of generating assets ■ improving the workload at the plants by using at increasing the competitive advantages of the as well as ensuring uninterrupted electricity more efficient and reliable equipment; Company and thus ensuring an economically supply services to the population. viable return on investments; ■ ■ reducing repair times; To ensure the Company’s business growth. ■ investing in innovations in accordance with ■ ■ reducing repair costs by improving the types To become a leader in the Russian power the latest quality and technology standards. of materials used; generating sector in the field of generating Regarding finance: assets management with a focus on innovation ■ ensuring guaranteed fuel supply for power- and energy performance. generating facilities by signing long-term ■ maintaining a steady income and cash flow agreements with suppliers, conducting direct from day-to-day activities; THE COMPANY’S GROWTH negotiations, and developing in-house fuel ■ maintaining an optimal liquidity level; PROSPECTS sources; ■ implementing a compromise-based model of ■ using more efficient and reliable equipment; current assets management. The strategic development plans of OJSC ■ introducing a transparent procurement INTER RAO – Electric Power Plants are in line process. Regarding corporate management: with the OJSC INTER RAO UES Group’s general development strategy for the period until 2012 ■ following the best international corporate Regarding business processes: (planned until 2020). management practices and ensuring ■ implementing a quality management system transparency of both financial statements and The Company’s strategic objective is achieving and standards; corporate structure. its target performance as required by the ■ implementing a new system of key performance Regarding protecting the environment shareholders of the Company for its electricity indicators; and labor safety: production bu sines s in Ru s sia in terms of installed ■ power and equipment performance indices, improving the motivation system for ■ decreasing air pollution from emissions as well as providing reliable and uninterrupted management and employees. using state-of-the-art high-performance power electricity supply to consumers. Regarding sales: technologies with high KPIs; ■ taking advantage of opportunities in ■ systematically implementing preventive In order to achieve the planned targets, the competitive sectors, i.e., electricity and capacity measures to decrease injury rates. following measures are to be implemented: sales; 2012 2012
ANNUAL REPORT ANNUAL REPORT
■ Elaborating on operation concepts for A BRIEF REVIEW OF THE MAIN EVENTS OF 2012 November 9. A 460 MW combined cycle gas
different types of equipment and establishing turbine unit was commissioned at Urengoyskaya 13 expert centers specializing in different types of COMPANY’S HISTORY TPP. After the commissioning of the new power 12 equipment used by the operating companies, June 4. The second power unit with 325 MW unit, the installed power of the Urengoyskaya and the introduction of result-related incentive OJSC INTER RAO – Electric Power Plants was of power capacity was commissioned at the TPP increased from 24 MW to 484 MW. The systems; incorporated on March 23, 2011 pursuant to Ivanovskiye CPP. The primary equipment of the combined power plant meets the up-to-date AND ITS POSITION IN THE INDUSTRY THE IN POSITION ITS AND ■ Establishing an assets and funds management the resolution of its sole founder, OJSC INTER second 325 MW CPP power unit includes two environmental safety standards and energy COMPANY THE ON INFORMATION system, building an effective repair and RAO UES. From 2011-2012, the assets of gas turbines (GTD-110) with power capacity performance requirements. The combination of maintenance system. the Ivanovskiye CPP, the Kaliningradskaya of 110 MW equipped with TZFG-110-2MUZ gas turbine and steam turbine units, integrated TPP-2, the Severo-Zapadnaya TPP, and the electric generators (manufactured by OJSC within a common operating cycle, enables the ■ Implementing the business strategy approved Sochinskaya TPP were transferred to OJSC Siloviye Mashini), two P-88 waste heat boilers generation of more heat and electricity, thus by the shareholders of the Company for electricity INTER RAO – Electric Power Plants. (manufactured by OJSC Machine-Building Plant increasing the efficiency of the power station’s generation. The reliability and safety guidelines ZiO-Podolsk), and a K-110-6.5 steam turbine equipment. of the primary generating assets of INTER RAO On October 01, 2012, as a result of the plant with a TZFG-110-2MUZ (manufactured by UES Group in Russia envisage achieving the
INFORMATION ON THE COMPANY reorganization in the form of incorporation with OJSC Siloviye Mashini). November 16. Power unit No.3 with power
AND ITS POSITION IN THE INDUSTRY following results: the Company OJSC First Generation, where capacity of 225 MW was commissioned at the the latter was established after reorganization October 1. INTER RAO UES Group completed Kharanorskaya TPP The third power unit of the of OJSC OGK-1 in the form of a split, and its reorganization, through which the Russian Kharanorskaya TPP was provided with unique OJSC Third Generation established after the generating assets previously consolidated in equipment ensuring environmentally safe reorganization of OJSC OGK-3 in the form of a OJSC OGK-1 and OJSC OGK-3 were transferred operation and conservation of resources. A split, OJSC INTER RAO – Electric Power Plants under the control of a 100% subsidiary of OJSC coal-based power unit, as part of the gas turbine became the owner of the assets of 16 power INTER RAO UES – OJSC INTER RAO - Electric manufactured by OJSC Siloviye Mashini (type plants located in the Russian Federation. Power Plants. Shares of OJSC OGK-1 and OJSC K-225-12.8-3Р), and a power boiler manufactured OGK-3 held by minority shareholders were by OJSC EMallaince (Ep-630-13.8 565BT [TPE- converted into additional ordinary shares of 216M]), were installed. The main type of fuel OJSC INTER RAO - UoM Result as of Target amount Target amount OJSC INTER RAO UES. Since October 1, 2012, used will be coal from the Kharanorskiy 2B and Electric Power Plants 31.12.2012 (2015) (2020) Performance operations with securities in the shareholder Kharanorskiy 3B quarries. registry of OJSC OGK-1 and OJSC OGK-3 were Operational Indices stopped. Installed power* GW 19.7 21 20.3
Electricity production bln kWh 89 99 112.5
Safety Indices
Share of advance power generating facilities %102026 Fault rate % 1.3 1 0.97
Availability % 81.56 90 93
* Taking into account decommissioning of ineffective equipment and that reached the end of its service life. 2012 2012
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INFORMATION ON PLANTS INSTALLED POWER CAPACITY,
MW 15
14 INFORMATION ON THE POWER STATIONS 4000 OF OJSC INTER RAO– ELECTRIC POWER PLANTS 3500
Installed power Installed heat Location, CUPS Main / reserve fuel / 3000 INDUSTRY THE IN POSITION ITS AND 3 600 INFORMATION ON THE COMPANY THE ON INFORMATION Power Station capacity, MW capacity (including (Central Unified starting fuel water boilers), Power System) 2500 Gcal/h Iriklinskaya TPP 2 430 121 Urals UPS Gas/Fuel oil 2000 2 430 2 400 Permskaya TPP 2 400 620 Urals UPS Gas 1500 1 910 Kashirskaya TPP 1 910 458 Central UPS Coal/gas/Fuel oil 1000 1497 1 285 500 1100
Verkhnetagilskaya 1 060 158
1 497 480 Urals UPS Coal/gas/Fuel oil 882 900
TPP 875 655 484 325
INFORMATION ON THE COMPANY Urengoyskaya TPP 484 410 Urals UPS Gas/Fuel oil AND ITS POSITION IN THE INDUSTRY Verkhnetagilskaya TPP Kashirskaya TPP Sochinskaya TPP Kostromskaya TPP 3 600 450 Central UPS Gas/Fuel oil Gusinoozyorskaya TPP Kostromskaya TPP Urengoyskaya TPP Ivanovskiye CPP Permskaya TPP Kharanorskaya TPP Cherepetskaya TPP Iriklinskaya TPP Pechorskaya TPP Cherepetskaya TPP named after L.G. 1 285 94 Central UPS Coal/Fuel oil Kaliningradskaya TPP-2 Severo-Zapadnaya TPP Yuzhnouralskaya TPP Zhimerin Gusinoozyorskaya TPP 1 100 224 Siberia UPS Coal/Fuel oil Pechorskaya TPP 1 060 327 North-West UPS Gas/Fuel oil INSTALLED HEAT CAPACITY, Yuzhnouralskaya TPP 882 395 Urals UPS Coal/gas/Fuel oil GCAL/H Kharanorskaya TPP 655 329,3 Siberia UPS Coal/Fuel oil Severo-Zapadnaya TPP 900 700 North-West UPS Gas/Diesel fuel 800 Kaliningradskaya 700 TPP-2 875 680 North-West UPS Gas/Diesel fuel
600 700 Sochinskaya TPP 158 50 South UPS Gas/Diesel fuel 680 500 Ivanovskiye CPP 483 79,1 Central UPS Gas/Diesel fuel 620 400
Dzhubginskaya TPP South UPS 480 450 458
300 395 Total 19 719 5 418 410 327
200 329,5
100 224 121 94 50 79,1
Verkhnetagilskaya TPP Kashirskaya TPP Sochinskaya TPP Gusinoozyorskaya TPP Kostromskaya TPP Urengoyskaya TPP Ivanovskiye CPP Permskaya TPP Kharanorskaya TPP Iriklinskaya TPP Pechorskaya TPP Cherepetskaya TPP Kaliningradskaya TPP-2 Severo-Zapadnaya TPP Yuzhnouralskaya TPP 2012 2012
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8 267.462 MILLION KWH
17 ELECTRICITY GENERATED
16 INSTALLED POWER CAPACITY
8 500 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 1 497 ELECTRICITY SALES MW 196.246 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY 62.87%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
VERKHNETAGILSKAYA TPP INSTALLED HEAT 391.2 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: City of Verkhny Tagil, Sverdlovsk ■ Lines I to III are coal-based with cross links: region, 80 kilometers north of the 4хT-88/100-90/2.5 turbines, 2хK-100-90-5, 480 1 091 PEOPLE regional center of Yekaterinburg, at the boilers: 5хPK-14, 13хPK-14р; GCAL/H HEADCOUNT headwaters of the Tagil River. ■ Line IV (coal-gas): 2 power units with K-165- 130 turbines and PK-33-83 boilers;
■ Line V (gas): three power units with K-205-130 turbines and PK-47 boilers. The main fuel for lines I to III and IV is Ekibastuz coal and natural gas; the starting fuel is М-100 FUEL BALANCE FUEL USAGE fuel oil and natural gas. The main fuel for line V is natural gas; the starting fuel is fuel oil. 0.17% Fuel oil The facilities began operating during the period 27.30% 3 from 1956 to 1964. Coal GAS — 1 924.49 MILLION Ì The water supply system at Verkhnetagilskaya TPP is a re-circulation system with circulating COAL — 1 479.58 THOUSAND TONS water cooling in the adjacent water storage areas. FUEL OIL — 3.69 THOUSAND TONS Power is supplied by means of OSG--220 kW and OSG-110 kW; no 220/110 kW autotransformer link 72.54% is available. Gas 2012 2012
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4 545.801 MILLION KWH
19 ELECTRICITY GENERATED
18 INSTALLED POWER CAPACITY
4 739 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 1 100 ELECTRICITY SALES MW 297.423 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY 47.05%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
GUSINOOZYORSKAYA TPP INSTALLED HEAT 367.7 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Gusinoozersk, Buryatia Republic, on ■ Four power units with K-210-130-3 turbines Gusinoye Ozero Lake. and BKЗ-640-140-PT1 boilers; 224 1 345 PEOPLE ■ Two power units with K-215-130-1 turbines and HEADCOUNT TPE-215 boilers. GCAL/H The facilities began operating during the period from 1976 to 1992. The main fuel is coal; fuel oil is used as a starting fuel for the boilers. A direct-flow circulating water supply system is in FUEL BALANCE FUEL USAGE place (as there is an adjacent lake). Power is supplied by means of OSG-110 kW and 0.24% Fuel oil OSG-220 kW, which are connected to each other COAL — THOUSAND TONS by autotransformers. 2 691.89 FUEL OIL — 2.74 THOUSAND TONS
99.76% Coal 2012 2012
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529.581 MILLION KWH
21 ELECTRICITY GENERATED
20 INSTALLED POWER CAPACITY 745 MILLION KWH AND ITS POSITION IN THE INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 483 ELECTRICITY SALES MW 120.480 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY
AND ITS POSITION IN THE INDUSTRY 15.53%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
IVANOVSKIYE CPP INSTALLED HEAT 257.6 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: CPP EQUIPMENT: Komsomolsk, Ivanovo Oblast ■ Two GTE-110s manufactured by NPO Saturn, E-148/35-6.7/0.6-493/229 waste heat boilers, 79.1 393 PEOPLE The station has been designed and and K-110-6.5 LMZ steam turbines. HEADCOUNT built for the development of gas turbine The facility began operating in 2012. GCAL/H technologies based on domestic power- The main and reserve fuel is natural gas; diesel plant engineering. fuel is used as emergency fuel. A recirculation water system using the water storage constructed during the first stage of construction of the TPP is in place. Power is supplied over KRUE-110 kW and FUEL BALANCE FUEL USAGE KRUE-220 kW, which are connected to each other by autotransformers. 0.07% Diesel fuel GAS — 131.76 MILLION Ì3
DIESEL FUEL — 0.07 THOUSAND TONS
99.93% Gas 2012 2012
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12 841.090 MILLION KWH 23 ELECTRICITY GENERATED
22 INSTALLED POWER CAPACITY
13 387 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 2 430 ELECTRICITY SALES MW 117.195 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY
AND ITS POSITION IN THE INDUSTRY 60.16%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR) IRIKLINSKAYA TPP INSTALLED HEAT 332.1 GUT/KWH CAPACITY LOCATION: TPP EQUIPMENT: SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) Energetik Village, Orenburg region, the ■ 2 two-boiler units with K-300-240-1 LMZ left bank of the Iriklinskoye Dam. turbines and PK-41 boilers from OJSC Machine- Building Plant ZiO-Podolsk; 121 814 PEOPLE ■ 2 two-boiler units with K-300-240-1 LMZ The hydroelectric power plant is located HEADCOUNT 20km from the TPP. It was built in 1956 turbines and TGMP-114 boilers made by Krasny GCAL/H at the same time as the Iriklinskoye Dam Kotelshchik, Taganrog; to manage the water levels of the Ural ■ 4 single-boiler units with K-300-240-1 LMZ River, i.e., to prevent flooding in spring turbines and TGMP-314 boilers made by Krasny time, downstream water deficiency during Kotelshchik, Taganrog; summer, and to generate power using the ■ The Iriklinskaya HEPP has 4 РО123ВМ200 discharge water. inward-flow central discharge turbines with a FUEL BALANCE FUEL USAGE total capacity of 30 MW. The facilities began operating during the period 99.22% 0.78% from 1957 to 1981. The main fuel at the TPP is 3 Gas Fuel oil GAS — 3 567.70 MILLION Ì gas; the reserve fuel is fuel oil. A circulating water supply system with double- FUEL OIL — 22.98 THOUSAND TONS stage water intake and a pond is used by units 1 to 8. Power is supplied by means of OSG- (-500 kW, ОSG-220 kW and ОSG -110 kW which are linked to one another by autotransformers. 2012 2012
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6 726.045 MILLION KWH 25 ELECTRICITY GENERATED
24 INSTALLED POWER CAPACITY 6 558 MILLION KWH AND ITS POSITION IN THE INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 875 ELECTRICITY SALES MW 152.593 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY
AND ITS POSITION IN THE INDUSTRY 87.51%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
KALININGRADSKAYA TPP-2 INSTALLED HEAT 252.5 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Kaliningrad, Kaliningrad Oblast ■ Two CPP-450 power units, each consisting of two GTE-160 gas turbines, two P-96 waste heat 680 486 PEOPLE boilers, and a Т-150-7.7 steam turbine. HEADCOUNT The TPP began operating during the period from GCAL/H 2005 to 2010. The main and reserve fuel is natural gas. Diesel fuel is used as emergency fuel. A recirculation water system uses chimney-type cooling towers. FUEL BALANCE FUEL USAGE Power is supplied by means of OSG--110 kW and OSG--330 kW, which are connected to each other by autotransformers. GAS — 1 470.74 THOUSAND TONS
100% Gas 2012 2012
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7 431.521 MILLION KWH 27 MILLION KWH
26 INSTALLED POWER CAPACITY
7 927 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 1 910 ELECTRICITY SALES MW 278.632 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY
AND ITS POSITION IN THE INDUSTRY 44.29%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR) KASHIRSKAYA TPP INSTALLED HEAT 349.4 GUT/KWH CAPACITY LOCATION: TPP EQUIPMENT: SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) City of Kashira, Kashira district, Moscow ■ Two coal-based power units with K-300-240-1 region. The plant is located by the LMZ turbines and two-furnace P-50 boilers made by OJSC Machine-Building Plant ZiO-Podolsk; PEOPLE terraces of the right bank of the Oka 458 1 440 ■ 1 coal-based power unit with K-300-240-1 LMZ River in the city of Kashira. turbines and a two-furnace P-50 boiler made GCAL/H HEADCOUNT by OJSC Machine-Building Plant ZiO-Podolsk which began working at the end of 2009; ■ 3 oil-gas-based power units with K-300-240-1 LMZ turbines and TGMP-314 boilers; ■ 1 power unit with a PT-80 turbine and a two- furnace BKZ-320-140GM boiler. FUEL BALANCE FUEL USAGE ■ The facilities began operating during the period from 1967 to 1983. The main fuel is coal and gas; the reserve 0.16% (starting) fuel is fuel oil (gas). Fuel oil 18.68% GAS — 1752.81 MILLION Ì3 A circulating water supply system with water Coal intake from the Oka River is used in units 1-3; for units 4-7 there is a recirculation system with COAL — 530.67 THOUSAND TONS chimney-type cooling towers. Power is supplied using OSG--500 kW, OSG- FUEL OIL — 2.80 THOUSAND TONS -22 kW, OSG--110 kW and OSG--35 kW; there are 500/220 kW and 220/110 kW autotransformer 81.16% links. Gas 2012 2012
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14 178.731 MILLION KWH 29 ELECTRICITY GENERATED
28 INSTALLED POWER CAPACITY
14 625 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 3 600 ELECTRICITY SALES MW 206.806 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY 44.84%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
KOSTROMSKAYA TPP INSTALLED HEAT 305.2 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Near Volgorechensk, Kostroma region. ■ Four power units with K-300-240-1 turbines and TGMP-114 boilers; 450 1 038 PEOPLE ■ Four power units with K-300-240-1 turbines HEADCOUNT and TGMP-314 boilers; GCAL/H
■ One power unit with a K-1200-240-1 turbine and a TGMP-1202 boiler. The facilities began operating during the period from 1969 to 1980. The main fuel is gas; the reserve fuel is fuel oil. FUEL BALANCE FUEL USAGE A direct-flow circulating water supply system is in 0.24% place. Water is taken from the Volga River. Fuel oil Power is supplied by means of OSG)-500 kW, GAS — 3 656.92 MILLION Ì3 ОSG 220 kW, ОSG -110 kW which are connected to one another by autotransformers. FUEL OIL — 7.51 THOUSAND TONS
99.76% Gas 2012 2012
ANNUAL REPORT ANNUAL REPORT
13 042.949 MILLION KWH
31 ELECTRICITY GENERATED
30 INSTALLED POWER CAPACITY
13 460 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 2 400 ELECTRICITY SALES MW 296.798 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY
AND ITS POSITION IN THE INDUSTRY 61.87%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
PERMSKAYA TPP INSTALLED HEAT 304.2 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: 70 kilometers from Perm, 5 kilometers ■ Three power generation units with K-800- from Dobryanka, Perm region, on the 240-5 LMZ turbines and TPP-804 boilers made 620 914 PEOPLE left bank of the Kamskoye Dam. by Krasny Kotelshchik, each having an electric capacity of 800 MW and a heat capacity of 140 GCAL/H HEADCOUNT Gcal/h. The facilities began operating during the period from 1986 to 1991. The main and reserve fuel is natural gas. In small quantities, fuel oil is used for illumination of the plant. FUEL BALANCE FUEL USAGE The Permskaya TPP uses a direct-flow circulating water supply system with water intake from the Kamskoye Dam. 100% 3 Gas GAS — 3 383.53 MILLION Ì Power is supplied by means of OSG--500 kW and OSG--220 kW, which are connected to one FUEL OIL — 0.01 THOUSAND TONS other by autotransformers. 2012 2012
ANNUAL REPORT ANNUAL REPORT
3 376.502 MILLION KWH 33 ELECTRICITY GENERATED
32 INSTALLED POWER CAPACITY
3 187 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 1 060 ELECTRICITY SALES MW 285.143 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY 36.26%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
PECHORSKAYA TPP INSTALLED HEAT 329.5 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: 3 kilometers to the east of Pechora, ■ Three power units with K-210-130-3 turbines Komi Republic, on the right bank of the and TGME-206KhL boilers; 327 770 PEOPLE Pechora River. ■ Two power units with K-215-130-1 turbines and HEADCOUNT TGME-206KhL boilers. GCAL/H The facilities began operating during the period from 1979 to 1991. The main fuel is natural (associated) gas; the reserve fuel is fuel oil. A recirculation water supply system is used (there FUEL BALANCE FUEL USAGE is an adjacent water storage tank). Power is supplied by means of OSG--220 kW. 0.84% Fuel oil GAS — 869.46 MILLION Ì3
FUEL OIL — 6.59 THOUSAND TONS
99.16% Gas 2012 2012
ANNUAL REPORT ANNUAL REPORT
4 679.431 MILLION KWH 35 ELECTRICITY GENERATED
34 INSTALLED POWER CAPACITY
4 834 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 900 ELECTRICITY SALES MW 1 301.520 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY 59.19%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
SEVERO-ZAPADNAYA TPP INSTALLED HEAT 227.7 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Primorskiy district, St. Petersburg, ■ Two CPP-450 power units, each consisting of Leningradskaya Oblast, on the shore two GTE-160 gas turbines, two P-90 waste heat 700 382 PEOPLE of the Gulf of Finland. boilers and a T-150-7.7 steam turbine. HEADCOUNT The facilities began operating during the period GCAL/H from 2000 to 2006. The main fuel is natural gas; diesel fuel is used as emergency fuel. Heat is supplied to St. Petersburg in the quantity of 200-300 Gcal/h with significant potential for FUEL BALANCE FUEL USAGE heat supply growth. The TPP uses a recirculation water system using chimney-type cooling towers. Power is supplied by means of OSG-110 kW and GAS — 1 070,54 THOUSAND TONS ОSG-330 kW which are not connected to one another by autotransformers. Through OSG-330 kW, electricity is supplied to Finland.
100% Gas 2012 2012
ANNUAL REPORT ANNUAL REPORT
723.305 MILLION KWH 37 ELECTRICITY GENERATED
36 INSTALLED POWER CAPACITY 817 MILLION KWH AND ITS POSITION IN THE INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 158 ELECTRICITY SALES MW 0 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY
AND ITS POSITION IN THE INDUSTRY 52.12%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
SOCHINSKAYA TPP INSTALLED HEAT 274.9 ÃÓÒ/ÊÂÒ·× CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Krasnodar Krai, Sochi ■ Phase I – two CPP-39 power units, each consisting of a 28 MW SGT 700 gas turbine, a 50 266 PEOPLE P-103 waste heat boiler, and a T-10/11-5,2/0,2 heat extraction turbine; GCAL/H HEADCOUNT ■ Phase II – one CPP-80 power unit, consisting of two SGT 700 gas turbines, two P-53 waste heat boilers and a SGT 600 steam turbine. The facilities began operating during the period from 2004 to 2009. The main fuel is natural gas; diesel fuel is used as FUEL BALANCE FUEL USAGE emergency fuel. A recirculation water system uses dry ventilated cooling towers. Spraying of chemically treated 0.02% Diesel fuel water is used with the high ambient air temperature. GAS — 164.83 MILLION Ì3 The municipal water supply network is used as a source of water. DIESEL FUEL — THOUSAND TONS Power is supplied over KRUE-220 kW and 0.03 KRUE-110 kW which are connected to each other by autotransformers.
99.98% Gas 2012 2012
ANNUAL REPORT ANNUAL REPORT
662.911 MILLION KWH 39 ELECTRICITY GENERATED
38 INSTALLED POWER CAPACITY
728 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 484 ELECTRICITY SALES MW 105.031 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY 78.91%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
URENGOYSKAYA TPP INSTALLED HEAT 306.9 ÃÓÒ/ÊÂÒ·× CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Yamylimuyaganto Lake in the basin of ■ Two PT-12/15-35/10М turbines with BKЗ-75-39 the Pur River, 70 kilometers to the south GM boilers, with cross links; 410 445 PEOPLE of the Arctic Circle, in the Limbyaakha ■ Two GTE-160/BОТ5-2000Е gas turbines with HEADCOUNT district, which is part of the city of E-229/50.2-7.85/0.59-507/227 waste steam GCAL/H Novy Urengoy in the Yamalo-Nenetskiy boilers; Autonomous Area of the Tyumen region. ■ One K-160-7.5 steam turbine. In 2012, a 450 MW CPP power unit was commissioned. The facilities began operating during the period FUEL BALANCE FUEL USAGE from 1990 to 2012. 0.15% The main fuel is gas; the reserve fuel is gas GTF (DIESEL FUEL) turbine fuel (diesel fuel). GAS — 175,90 MILLION Ì3 Process water is supplied by a recirculation system using the Yamylimuyaganto Lake. GAS TURBINE FUEL (DIESEL FUEL) — Power is supplied by means of OSG-110 and OSG--220 kW; no 220/110 kW autotransformer 0,23 THOUSAND TONS link is available. 99.85% Gas 2012 2012
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3 319.032 MILLION KWH
41 ELECTRICITY GENERATED
40 INSTALLED POWER CAPACITY
3 451 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 655 ELECTRICITY SALES MW 129.813 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY
AND ITS POSITION IN THE INDUSTRY 80.82%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
KHARANORSKAYA TPP INSTALLED HEAT 348.9 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Yasnogorsk, Olovyanninsk district, ■ Two power units with K-215-130 turbines and Chita region, Southeast of Transbaikal; TPE-216-670 boilers; 329.3 940 PEOPLE 300 kilometers from the regional center. ■ One power unit with K-225-12.8-3R turbines HEADCOUNT and a Ep-630-13.8-565BT boiler (commissioned GCAL/H in 2012). The facilities began operating during the period from 1987 to 2012. The main fuel is coal; the reserve and starting fuel is fuel oil. FUEL BALANCE FUEL USAGE A recirculation water supply system is used (there 0.15% is an adjacent water storage tank). Fuel oil Power is supplied by means of OSG--110 kW and OSG--220 kW, which are connected to each COAL — 1 986.76 THOUSAND TONS other by transformers. FUEL OIL — 1.18 THOUSAND TONS
99.85% Coal 2012 2012
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3 480.217 MILLION KWH 43 ELECTRICITY GENERATED
42 INSTALLED POWER CAPACITY
3 579 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 1 285 ELECTRICITY SALES MW 143.534 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY 30.83%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
CHEREPETSKAYA TPP NAMED AFTER L.G. ZHIMERIN INSTALLED HEAT 416.1 GUT/KWH CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Suvorov, Tula region. ■ Three power units with K-140-160 turbines and TP-240-1 double boilers; 94 1 177 PEOPLE ■ Two power units with K-300-240-1 turbines HEADCOUNT and TPP-110 boilers; GCAL/H
■ One power unit with a K-300-240-1 turbine and a P-50 boiler. The facilities began operating during the period from 1953 to 1966. The main fuel is coal; fuel oil is used as starting FUEL BALANCE FUEL USAGE fuel for the boilers. 5.61% A recirculation water supply system is used (there Fuel oil is an adjacent water storage tank). COAL — 1 540,52 THOUSAND TONS Power is supplied by means of OSG- (-110 kW and OSG--220 kW which are not connected to FUEL OIL — 56,70 THOUSAND TONS one another by autotransformers.
94.39% Coal 2012 2012
ANNUAL REPORT ANNUAL REPORT
5 424.978 MILLION KWH 45 ELECTRICITY GENERATED
44 INSTALLED POWER CAPACITY
5 577 MILLION KWH INDUSTRY THE IN POSITION ITS AND INFORMATION ON THE COMPANY THE ON INFORMATION 882 ELECTRICITY SALES MW 389.510 THOUS. GCAL HEAT SUPPLY INFORMATION ON THE COMPANY AND ITS POSITION IN THE INDUSTRY 70.02%
ICUF (INSTALLED CAPACITY UTILIZATION FACTOR)
YUZHNOURALSKAYA TPP INSTALLED HEAT 388.2 ÃÓÒ/ÊÂÒ·× CAPACITY SCEF (SPECIFIC CONSUMPTION OF EQUIVALENT FUEL) LOCATION: TPP EQUIPMENT: Yuzhnouralsk, 90 kilometers from ■ Two K-50-90-2 turbine units, one P-35/50- Chelyabinsk, on the left bank of the 90/9 turbine, one PT-83/100-90/2.5 turbine, one 395 1 155 PEOPLE Uvelika River. K-100-90-5 turbine, two Т-82/100-90/2.5 turbines, ten PK-10sh pulverized-coal fired boilers and two GCAL/H HEADCOUNT PK-14 boilers on a cross-link line;
■ Two power units with K-200-130-1 turbines and PK-33 boilers. The facilities began operating during the period from 1952 to 1961. FUEL BALANCE FUEL USAGE The main fuel is coal and gas; the reserve and starting fuel is fuel oil. 0.07% Fuel oil A recirculation water supply system is used (there 53.50% 3 is an adjacent water storage tank). Coal GAS — 820.93 MILLION Ì Power is supplied by means of OSG--110 kW and — THOUSAND TONS OSG--220 kW, which are connected to one other 1 935.96 by autotransformers. FUEL OIL — 1.10 THOUSAND TONS 46.43% Gas 2012 2012
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customs legislation is somewhat ambiguous
INFORMATION ON and frequently changes. OJSC LLC INTER RAO 47 RISKS AND THE RISK - Electric Power Plants is highly dependent on 46 MANAGEMENT SYSTEM various ministries and authorities responsible for tariffs, the determination of power strategy, and the approval of regulatory documents AND ITS POSITION IN THE INDUSTRY THE IN POSITION ITS AND
In 2012, the management of OJSC LLC relevant to the Company’s business. COMPANY THE ON INFORMATION INTER RAO -Electric Power Plants continued to improve the Company’s integrated risk REGIONAL RISKS management system in accordance with the OJSC LLC INTER RAO - Electric Power Plants best global practices and Russian legislation. is a registered taxpayer in Moscow, and the company’s electric and heating power The main objectives, principles and approaches generating subsidiaries are located in other to the Company’s risk management activities regions of the Russian Federation, e.g., in the
INFORMATION ON THE COMPANY are described in the on Risk Management European part, in Siberia, and in the Urals. This AND ITS POSITION IN THE INDUSTRY Regulation approved by the Board of Directors business diversity ensures stability for OJSC of the Company as of 06/03.2013 (Minutes LLC INTER RAO - Electric Power Plants and No.18). lowers its exposure to regional risks. DZHUBGINSKAYA TPP The risk management methods used at OJSC The political risks in the regions covered by LLC INTER RAO - Electric Power Plants include OJSC LLC INTER RAO - Electric Power Plants The investment project “Construction of the decreasing (minimization), acceptance, are related to changes in regional legislation Dzhubginskaya TPP (design and survey, elimination and reassignment risk. and regional tariff policies, and are beyond the construction)” has been included in the Company’s control due to the their scale. In the «Program for Construction of Olympic Facilities As assessed by the Company based on the event that the situation becomes unstable in and Development of the City of Sochi as a results of 2012, the following risks are the most Russia or in a region of Russia, the Company Mountain Resort» pursuant to the regulations of relevant. will implement crisis management measures the government of the Russian Federation dated to minimize the negative influence on the 29/12/2007 (No.991). NATIONAL AND REGIONAL RISKS Company’s business. The power capacity to be commissioned is 2 x The risks related to possible military conflicts, 90MW. NATIONAL RISKS emergency situations and strikes in the country Natural gas is envisaged as the main fuel for the OJSC LLC INTER RAO - Electric Power Plants or regions where the Company operates are power units. works in the field of electric and heating minimal. COMMISSIONING IS PLANNED FOR power production and sales in the Russian Q4 2013. Federation, so it may be significantly affected Risks related to the geographical characteristics by the economic, political and social risks of of the country and regions where the Company the Russian Federation. operates, including increased exposure to acts of God, possible transport communication Currently, the Russian Federation is continuing breaks due to remoteness and/or limited the implementation of reforms aimed at building accessibility etc., are also minimal as assessed and improving its legal, economic and financial by the Company. systems. Existing Russian tax, currency and 2012 2012
ANNUAL REPORT ANNUAL REPORT
INDUSTRY RISKS PRODUCTION DECREASE INDUSTRIAL REGULATION RISKS To reduce this risk the Company regularly
works with government authorities on changes 49 TECHNICAL RISKS This risk occurs in the event of a decrease in These risks are related to continuous changes to the legislation governing the power industry, 48 electricity demand. Despite the fact that some in the state-regulated Russian electric power initiates changes to the regulatory framework КThe Company considers the following power stations of OJSC LLC INTER RAO - industry concerning tariffs of infrastructure of the industry, and participates in the activities to constitute technical risks: the effect of Electric Power Plants have faced significant organizations, tariffs in the regulated segment of the Supervisory Board of Non-State AND ITS POSITION IN THE INDUSTRY THE IN POSITION ITS AND
uncertainty due to unplanned changes in the production decreases, any further production of the electricity and power capacity market, as Enterprises (The Market Council) through their COMPANY THE ON INFORMATION operating schedules of the power generating decrease is now considered to be unlikely. well system constraints to the operation modes representatives. equipment (including unplanned stoppage However, the Company still believes that this is of power industry facilities. risks) and changes in the adjacent grid’s one of the most significant risks. This risk leads RISK OF POWER DELIVERY DEADLINES UNDER CAPACITY SUPPLY CONTRACTS designs resulting in a decrease in a plant’s to a decrease of revenues from electricity and The risk of a slowdown in electricity tariff growth capacity. power capacity sales. is related to the possible fixing of tariffs below This risk arises from a number of factors, economically reasonable levels as well as both from a technical (failure to meet OJSC LLC INTER RAO - Electric Power Plants This is an external risk, so the Company is to likely slower electricity tariff growth when deadlines for the construction of a facility) and
INFORMATION ON THE COMPANY divides such risks into the following groups: limited in the actions it can take to minimize this compared to the increase in fuel prices, which organizational nature (failure to meet deadlines AND ITS POSITION IN THE INDUSTRY type of risk. Most of the Company’s activities can lead to a decrease in profitability of sales in commissioning, failure to obtain the right ■ technical failures due to emergency outages are aimed at increasing operational efficiency in the regulated segment of the Wholesale to participate in trading on the Wholesale of the mechanical and electrical/power supply by implementing production waste reduction Electricity and Capacity Market. Electricity and Capacity Market) resulting in a grid equipment at the power plant; and fuel saving programs. shortfall of planned profit and penalties under ■ technical failures due to issues with fuel In order to minimize the said risks, the Company capacity supply contracts. supply to the plant; RISKS RELATED TO GROWING FUEL takes measures which include participation in PRICES ■ technical failures due to emergency outages the conciliation meetings of the Board of the Due to insolvency of the general contractor of power transmission lines used for capacity Fuel costs are the main electricity production Federal Tariff Service of Russia, the development as well as a number of other factors the supply that are on the books of the grid cost factor, so the risks related to growing of regulations by the Federal Tariff Service of commissioning deadlines for a power unit of the company. energy resource prices and their transportation Russia, detailed itemized justification of tariffs, as Gusinoozyorskaya TPP have been postponed, costs may aggravate the Company’s financial well as measures aimed at reducing production which could lead to significant penalties for Realization of an adverse scenario could cause situation. costs and improving of operational efficiency. carrying out the capacity supply contract. direct financial losses to the Company on the balanced electricity market, losses caused as In order to minimize the said risks, the Company RISKS RELATED TO CHANGES IN MARKET As part of managing this risk, the Company CONDITIONS AND MARKET OPERATION a result of partial payment for the authorized takes the following steps: LAWS takes the following steps: capacities of the plants, and losses due to ■ diversification of fuel suppliers; ■ control over the general contractor’s maintenance costs. These risks are also caused by the reforms of the performance deadlines; ■ participation in organizing gas exchanges. power industry. ■ carrying out claims settlement regarding In order to minimize the said risks, the Company ■ signing long-term contracts with suppliers general contractor defaulting in respect to the carries out technical re-equipping and with set prices taken into account while The most significant changes in the laws of deadline for the readiness of the facility under reconstruction of its fixed assets to maintain determining the tariff levels; the Wholesale Electricity and Capacity Market the reliability level of the equipment. OJSC resulted in the realization of risks in 2012 are: the capacity supply contract; LLC INTER RAO – Electric Power Plants also ■ short- and medium-term forecasting of ■ switching to compulsory adoption of prices to ■ creation of a reserve to cover penalties rebuilds its existing power generating facilities the situation on the day-ahead market, cover the minimum technical quantities; arising from the capacity supply contract. and builds new ones, as well as providing adjusting monthly fuel supply volumes, active negotiations of delivery terms with suppliers; ■ changes in the principles of the definition of property insurance and receiving coverage TRADE ACTIVITIES RISKS under insurance contracts. ■ decreasing production costs, including paid power quantities; through increasing operational efficiency, ■ postponement of indexation dates for Price risks, related to the electricity price through implementing production waste competitive selection of capacity; fluctuation at the Wholesale Electricity and reduction and fuel saving programs. Capacity Market, are unfavorable for the ■ adoption of tariff decisions unfavorable for the Company. Company. 2012 2012
ANNUAL REPORT ANNUAL REPORT
These risks are largely external, and Company’s rates for the euro were 38.4 rubles per euro in In order to minimize the credit risk, the prices in the country usually correspond to
influence in minimizing these risks is limited. March and 42.2 rubles per euro in June. Such Company performs the following preventive inflation dynamics. Thus, the negative influence 51 In order to reduce the impact of the said risks volatility raises uncertainty regarding future measures: performs contractor reviews relating of inflation on production costs is compensated 50 and/or minimize them, the Company takes currency exchange rates. to solvency, credit trustworthiness, general for by a corresponding growth in revenues. measures aimed at improving operational financial stability, and continuous supervision efficiency though the implementation of The relevance of this risk for the Company of accounts receivable. In addition, measures LEGAL RISKS INDUSTRY THE IN POSITION ITS AND programs to reduce production costs and save in 2013 is chiefly associated with the use of are taken to decrease the credit risks at the COMPANY THE ON INFORMATION fuel, as well as to enter into long-term contracts imported equipment for the implementation of contract signing stage (advance payments, for the supply of electricity and diversify free its investment program. credit notes, bank warranties and guarantees). The legal risks that may affect the business of contracts for electricity supply to industries and OJSC LLC INTER RAO - Electric Power Plants regions. As assessed by the Company, the currency Credit risks are also managed while working include risks related to the following factors: risk, given the measures being taken to reduce with financial institutions, particularly with ■ changes in currency regulations; FINANCIAL RISKS it, cannot, at the moment, essentially affect the banks: deposit transactions are performed Company’s ability to fulfill its obligations. strictly within the designated limits determined, ■ changes in tax legislation;
INFORMATION ON THE COMPANY based on the evaluation of the current financial ■ changes in customs control and customs AND ITS POSITION IN THE INDUSTRY INTEREST RATE RISK The Company’s financial activities include the stability of the respective credit institutions. duties regulations; assessment and management of financial risks, Interest rate risk is the risk of a loss due to an e.g., currency and interest rate risks, insolvent adverse change in interest rates. INFLATION RISK ■ changes in licensing regulations related to contractors and credit risks. According to the Federal State Statistics the Company’s core business or to the licensing In 2012, the Bank of Russia increased the Service, the inflation rate was 10.9% in 2005, of the rights to use items of limited availability The Company has adopted a Financial refinancing rate from 8 to 8.25%, a move which 9.0% in 2006, 11.9% in 2007, 13.3% in 2008, (including natural resources); Risk Management Policy that describes the was accompanied by an increase in inter-bank 8.8% in 2009, 8.8% in 2010, 6.1% in 2011, and ■ changes in court policies. principles and methods of risk assessment, the lending rates in Russian rubles. MosPrime 6.6% in 2012. According to the forecasts by the measures to be used for limiting financial risks, grew from 7.25 to 7.47% during the second half Russian Ministry of Economic Development, in Legal risks can arise and affect the Company’s and a procedure for controlling and monitoring of the year. The Company considers a further 2013 inflation is expected to be in the range of activities in the domestic market, which is financial risks. increase in the ruble and currency interest rates 5 to 6%. typical for the majority of businesses operating at the beginning of 2013 to be highly probable. in the Russian Federation. To minimize the legal CURRENCY RISK A negative effect of inflation on the financial risks, almost all operations of the Company Changes in foreign currency exchange rates In connection with the planned loans for and commercial activities of OJSC LLC INTER are covered by a mandatory preliminary legal lead to a revaluation of the Company’s foreign realization of the 2013 investment program, RAO- Electric Power Plants may be related to appraisal. currency liabilities, cash and other monetary interest rate risk can affect the value of the the following risks: assets and liabilities that result in a reduction Company’s investment projects. RISKS RELATED TO CHANGES IN ■ the risk of losses due to a decrease in the CURRENCY REGULATIONS or increase of profit. real value of accounts receivable in the event The fluctuation of interest rates may also affect Due to the uncertainty and inconsistency in of a significant payment deferral or delay; While planning its business, the Company aims the amount of interest income from bank the field of taxation, the Company is potentially to ensure correlation between the amount of deposits at the time of their re-depositing. In ■ the risk of an increase in production costs subject to various penalties and fines despite foreign currency liabilities and the amount this case, the potential decrease in income for goods, products, work and services due all the efforts it takes to comply with tax of foreign currency assets, which naturally remains within a controllable and limited level. to increasing prices for power resources, legislation, which can lead to the tax burden reduces the currency risks for the Company. transportation costs, wages etc.; exceeding that which was expected. RISKS OF CONTRACTOR DEFAULT (CREDIT RISK) ■ the risk of a cost increase for the investment During 2012, the simultaneous movement of program. There is also a risk of additions or changes the ruble against the euro and US dollar. Thus, To prevent contractor default risks and minimize to provisions of the Tax Code of the Russian the minimum ruble-to-dollar exchange rate set possible losses the Company performs If the inflation level significantly exceeds the Federation, which may lead to an increase in by the Central Bank of the Russian Federation in credit risk management when interacting with forecast, OJSC LLC INTER RAO - Electric Power the tax burden and, accordingly, to changes in 2012 was recorded in March at 28.9 rubles per external parties (customers and suppliers) and Plants will take cost and asset optimization the results of economic activity, including the US dollar, with the maximum rate set at 34.03 with financial institutions, including banks and measures. According to a retrospective review, reduction of net profit. rubles per US dollar in June. The respective insurance companies. the increase in heating and electric power 2012 2012
ANNUAL REPORT ANNUAL REPORT
RISKS RELATED TO CHANGES IN LICENSING REQUIREMENTS FOR THE Possible changes in court proceedings regarding COMPANY’S CORE BUSINESS OR TO THE issues related to the Company’s activities cannot 53 LICENSING OF THE RIGHTS TO USE ITEMS significantly affect the results of its operation.
52 OF LIMITED AVAILABILITY (INCLUDING NATURAL RESOURCES) The likelihood of such changes which could Any changes to the requirements for the licensing negatively affect the Company’s business is AND ITS POSITION IN THE INDUSTRY THE IN POSITION ITS AND
of OJSC LLC INTER RAO - Electric Power Plants’ negligible. Management of these risks is based COMPANY THE ON INFORMATION core business or for the rights to use items of on optimization of the Company’s legal support limited availability (including natural resources) process. To minimize legal risks, the business may lead to an extension of the time needed for processes of OJSC LLC INTER RAO - Electric the preparation of documents, as well as to the Power Plants exposed to such risks are covered Company having new compliance requirements. by a mandatory legal appraisal. The Company However, in general, this risk is assessed by usually employs extrajudicial resolution of the Company as minor, except in cases when a disputes with contractors.
INFORMATION ON THE COMPANY license renewal are associated with excessive AND ITS POSITION IN THE INDUSTRY costs, which could lead to termination of that RISK INSURANCE certain activity. One of the most effective risk management In the foreseeable future, the risks associated methods is reassignment via insurance. with changes in foreign exchange, tax, customs and other legislation, which may result in the The strategic goals of OJSC LLC INTER RAO - deterioration of the financial status of the Electric Power Plants in the field of insurance are: Company, are insignificant in the opinion of the ■ ensuring reliable compensation guarantees OJSC LLC INTER RAO – Electric Power Plants. and decreasing the damage caused to the RISKS RELATED TO CHANGES IN COURT Company due to technical failures, acts of God, PROCEEDINGS RELEVANT TO THE third-party actions and other force-majeure COMPANY’S BUSINESS (INCLUDING events by increasing the quality of insurance FOR LICENSING ISSUES) WHICH MAY NEGATIVELY AFFECT THE PERFORMANCE contracts and improving the claim settlement AND/OR THE OUTCOME OF ANY ONGOING process; COURT PROCEEDINGS IN WHICH THE COMPANY IS INVOLVED ■ better allocation of the Company’s financial means when it comes to minimizing the effects OJSC LLC INTER RAO - Electric Power Plants of natural disasters, technical accidents, and carefully studies changes in court proceedings other adverse events through insurance; related to its activities (including licensing ■ increasing the Company’s investment issues) in order to routinely take them into attractiveness by preserving and maintaining account in a timely fashion. Court proceedings a guaranteed level of its assets covered by are analyzed both at the level of the Supreme insurance and reinsurance options provided by Court of the Russian Federation, the Supreme insurance companies internationally recognized Arbitration Court of the Russian Federation, and as financially reliable; at the level of federal district arbitration courts. The legal position of the Constitutional Court of ■ increasing the level of social security and the Russian Federation on certain issues of law motivation for Company’s staff and improving enforcement is analyzed as well. the life and health protection through voluntary medical insurance agreements and providing insurance against accidents at work as well as occupational illnesses. Moscow time MSK (UTC+4)
SCALE AND DYNAMICS 09:00 Commissioning of new power generating facilities opens additional growth and development horizons for the Company IVANOVSKIYE CPP SEVERO-ZAPADNAYA TPP 2012 2012
ANNUAL REPORT ANNUAL REPORT
The economic performance and statements of the 2011-2012 FINANCIAL PERFORMANCE REPORT
FINANCIAL AND Company for 2012 were significantly influenced тыс. руб. 57 by operations related to the reorganization of the Index 2011 2012 56 Company that was accomplished on October ECONOMIC Income and expenses for regular activities 1, 2012 in the form of incorporation with the Company of OJSC First Generation where the Revenues from sale of goods, products, works and services 1751189 45572345 PERFORMANCE latter was established after the reorganization Sales cost 1608362 44084542 FINANCIAL AND ECONOMIC FINANCIAL PERFORMANCE OVERVIEW PERFORMANCE 1 of OJSC OGK-1 in the form of separation, and Gross profit 142827 1487803 OJSC Third Generation was established after Selling and marketing costs 59591 OVERVIEW reorganization of OJSC OGK-3 in the form of Administrative expenses 60885 710945 The Company’s economic and financial separation. As a result of the reorganization, results dynamics evaluation (analysis) for the the Company became the owner of the assets Sales profit/loss 81942 717267 reporting period versus 2011 has not been of 16 power plants instead of four power plants Other income and expenses performed because of the impossibility of owned as of the end of 2011. This led to a jump in PERFORMANCE OVERVIEW FINANCIAL ECONOMIC AND Interest receivable 11583 382484 comparison due to the recent reorganization the value of the Company’s assets and revenue Interest payable 0 118464 and because the Company practically did not making a comparison of economic and some operate in 2011. financial results impossible. Other income 6 1207391 Other expenses 5372 2462523
At the end of 2012, the profit from sales of Profit/loss before tax 88159 -273845 products (services) was 45572345 thousand Deferred tax assets 131637 2474720 rubles. For the whole year, the total cost inclusive of selling, marketing, and administrative expenses Deferred tax liabilities 200345 2631231 was 44855 078 thousand rubles. The balance of Current income tax other income and expenses inclusive of interest Income tax from previous years receivable/payable was -991112 thousand Other expenses from profit 212 rubles. Thus, the actual loss at the end of 2012 was -430568 thousand rubles. Net profit/loss for the reporting period 19451 -430568
REVENUE COMPANY’S REVENUE STRUCTURE IN 2011-2012 In 2012, income from sales of electricity (67%) and capacity (25%) dominated the revenue structure of the Company. Income from heating sales accounted for 5% of revenue. Total revenue 6% 2% from sales of electricity, capacity and heat in 2012 100% 67% equaled 43004758 thousand rubles2
25%
2011 2012
Heat power sales Electricity sales Capacity sales 1 Other incomes from regular In this Section, the analysis of financial and economic activities performance is presented in accordance with Russian 2 More detailed information about revenue from the sale of Accounting Standards (RAS). electricity, capacity and heat is specified in Section 4 hereof. 2012 2012
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REVENUE STRUCTURE IN 2011-2012 OTHER EXPENSES AND PROFIT 2011 2012 59 INCOME SALES PROFIT thousand rubles share, % thousand rubles share, % 58 Other incomes from non-core activities in 2012 At the end of 2012, the sales profit of the Company Revenue 1751189 100 45572345 100 (minus interest receivable) equaled 1207391 was 717267 thousand rubles Electricity sales 0 0 30491142 67 thousand rubles. Other expenses (minus interest Capacity sales 0 0 11475641 25 payable) equaled 2462523 thousand rubles. EBITDA FINANCIAL AND ECONOMIC FINANCIAL EBITDA stands for earnings before interest, tax- OVERVIEW PERFORMANCE Heat power sales 0 0 1037975 2 Interest receivable in 2012 equaled 382484 es, depreciation and amortization. This indicator Other incomes from regular activities 1751189 100 2567587 6 thousand rubles. shows a company’s performance and makes it possible to compare companies with one anoth- Total revenue from all activities of the Company in electricity (power) and heat generating activities Interest payable in 2012 equaled 118464 er, as it does not depend on the taxation system, 2012 equaled 45572345 thousand rubles. were carried out. thousand rubles. loan cost, or accepted corporate system of de- preciation of fixed and intangible assets. PERFORMANCE OVERVIEW FINANCIAL ECONOMIC AND Revenue from the sale of electricity (power capacity) was 41966783 thousand rubles. PRODUCTION COSTS In 2012, production costs, along with selling, Revenue from the heat power sales made up marketing and administrative costs equaled 1037975 million rubles. 44855078 thousand rubles. The largest part of the production cost structure (65%) is made up TPP RETURNS ON SALE IN 2011-2012 (thousand rubles) Revenue from other sales was 2567587 million of variable costs. Semi-fixed costs make up 35%
rubles. of the overall cost structure. 1 000 000
In 2011, 100% of the revenue consisted of 800 000 income from leasing the Company’s assets; no 880 652 600 000 793 429 PRODUCTION COST INCLUSIVE OF SELLING, MARKETING AND ADMINISTRATIVE COSTS IN 2011-2012* 400 000 639 053 484 678 2011 2012 200 000 105 936 Change 107 879 74 052 46 056 2012/2011,% 28 187 thousand thousand 53 593 rubles share, % rubles share, % 17 808 0 Total production cost with selling, and marketing and administrative expenses 1669247 100 44855078 100 2687
-200 000 -2 626 Variable costs 0 0 28942133 65 - -229 269 -19 996 -464 974 -685 699 -80 794 -89 634
Fuel costs 0 0 26756591 60 - -85 432 Electricity (capacity) purchase 0 0 2183781 5 - -400 000 Water for industrial needs 0 0 1761 0 0
Semi-fixed costs 1669247 100 15912946 35 953 -600 000 Raw materials 288 0 1090843 2 378536
Production works and services 1 0 1234631 3 118888243 -800 000 Depreciation 1300601 78 5357068 12 412 Verkhnetagilskaya TPP Kostromskaya TPP Kharanorskaya TPP Labor remuneration + obligatory insurance 2023 0 3556592 8 175772 Gusinoozyorskaya TPP Permskaya TPP Cherepetskaya TPP Private pension funding 0 0 0 0 - Ivanovskiye CPP Pechorskaya TPP Yuzhnouralskaya TPP Iriklinskaya TPP Severo-Zapadnaya TPP Water tax 0 0 375 0 - Kaliningradskaya TPP-2 Sochinskaya TPP 2011 Other costs 366333 22 4673436 10 1276 Kashirskaya TPP Urengoyskaya TPP 2012
*Информация приведена в соответствии с управленческими данными. 2012 2012
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Index 2011 2012 advances made (capital construction); The main part of the increase was due to financial discipline of consumers are the reasons
non-payment by market entities – a group of for the increase in accounts receivables for 61 EBITDA, thousand 1388760 5201687 rubles electricity and power purchasers; companies under the control of «Energostream» supplied heat. 60 LLC and the traditionally poor payment discipline heat purchasers. of contractors – the Guaranteeing suppliers of the In accordance with the accounting policy, the At the end of 2012, EBITDA amounted to 6201687 North Caucasus. Company is creating a reserve fund to cover thousand rubles. Profitability of EBITDA by There was an increase of accounts receivables as bad debts, the size of which at the end of 2012 FINANCIAL AND ECONOMIC FINANCIAL revenue in 2012 made up 11%. part of capital construction due to advances made The lack of funding of budgetary organizations, equaled 4243644 thousand rubles. OVERVIEW PERFORMANCE for equipment supply under newly signed contracts bankruptcy of housing organizations, and poor Net Profit/Loss and supplementary agreements covering the As of the end of 2012, the net profit/loss of the implementation of investment projects for new Company was 430568 thousand rubles. construction.
Taking into account the incomparability of data An increase of receivables from electricity and Accounts payable PERFORMANCE OVERVIEW FINANCIAL ECONOMIC AND covering the periods presented in the table, which is power purchasers is conditioned by the general (excluding outstanding loans or credits) due to the Company’s reorganization as of October tendency to reduce the amounts of payments in ACCOUNTS PAYABLE IN 2011-2012 1, 2012, the dynamics of accounts receivables in the wholesale electricity and power market. 2012 were affected mostly by the following: As of 31.12.2011 As of 31.12.2012 Index thousand rubles % thousand rubles % Long-term accounts payable 6644 1.6 17215442 45.5 By period of occurrence Short-term accounts payable 405188 98.4 20617619 54.5 Total 411832 100.00 37833061 100.00
PROFITABILITY IN 2011-2012 Suppliers and contractors 14999 3.6 33686968 89.0 Taxes and duties payable (including Absolute change State non-budgetary funds) 358737 87.2 764183 2.0 Index 2011 2012 2012-2011 By type Other creditors 38094 9.2 3155284 8.4 ROS EBITDA profitability (EBITDA/Revenue), % 79.30 11.41 -67.89 Debt to personnel 2 - 226626 0.6 Debt to EBITDA ratio 0.44 8.69 825 (Joint liability/EBITDA), thousand rubles Total 411832 100.00 37833061 100.00
ACCOUNTS RECEIVABLE IN 2011-2012
31.12.2011 31.12.2012 As of December 31, 2012, the Company’s are liabilities toward OJSC LLC INTER RAO UES Index accounts payable amounted to 37833061 under sales contracts. thousand share, % thousand share, % rubles rubles thousand rubles. Long-term accounts receivables 116433 7.6 8738998 35.8 Loans and Credits By period of Short-term accounts receivables 1416562 92.4 15661566 64.2 The largest share (89.0%) or 33686096 thousand As of December 31, 2012, the Company has no occurrence rubles is taken by liabilities for suppliers and loan debts. Total 1532995 100 24400564 100 contractors of which 33675772 thousand rubles Purchasers and customers 944483 61.6 11263719 46.2
Advances made 584762 38.2 9364364 38.4 By type Other debtors 3750 0.2 3772481 15.4
Total 1532995 100 24400564 100 2012 2012
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BALANCE STRUCTURE As of 31.12.2011 As of 31.12.2012
Index thousand % of total % of total 63 COMPANY’S BALANCE STRUCTURE IN 2011-2012 rubles assets thousand rubles assets
62 Reserves 9 - 7199881 3,14 2011 2012 Value Added Tax for acquired assets 7 - 822921 0,36 Index share in the share in the Short-term accounts receivable 1416562 4.00 15661566 6,83 thousand rubles balance, % thousand rubles balance, % Current Assets Short-term financial investments (- cash - - 2330405 1,02 FINANCIAL AND ECONOMIC FINANCIAL Non-current assets 33072826 93.35 190218030 82.99 equivalent) OVERVIEW PERFORMANCE Assets Current assets 2356511 6.65 38989012 17.01 Cash (+ cash equivalent) 938978 2.65 12811985 5,59 Total 35429337 100 229207042 100 Other (VAT and other current assets) 955 - 162254 0,07 Capital and reserves 34817160 98.27 183981268 80.27 Total 35429337 100.00 229207042 100.00 Long-term liabilities 206989 0.59 22710987 9.91 Liabilities Short-term liabilities 405188 1.14 22514787 9.82 NON-CURRENT ASSETS Total 35429337 100 229207042 100 PERFORMANCE OVERVIEW FINANCIAL ECONOMIC AND Structure of Fixed Assets ASSETS Existence and flows of fixed assets reorganization in the form of separation of According to the financial statements of OJSC production assets from OJSC OGK-1 and OJSC FLOWS OF FIXED ASSETS AT ORIGINAL COST VALUE LLC INTER RAO - Electric Power Plants for OGK-3 into 100% subsidiaries; OJSC First thousand rubles 2012, the value of the Company’s assets was Generation and OJSC Third Generation and At the be- Acquired re- ginning of Reclassifi- sulting from At the end 229207042 thousand rubles. further incorporation with the Company; Index Period reporting cation Acquired reorganiza- Retired of reporting period tion period The significant increase in the value of assists has acquisition of assets from OJSC LLC INTER 2012 34122235 - 59821620 34415018 (153618) 128205255 Fixed assets - total1, occurred for two reasons: RAO UES being part of the asset groups of including: 2011 - 34122267 - (32) 34122235 Ivanovskiye CPP, Kaliningradskaya TPP-2, Severo-Zapadnaya TPP, and Sochinskaya TPP. 2012 9014112 (276087) 11426188 10011817 (623) 30175407 Buildings 2011 - 9014112 - - 9014112
2012 3803433 250779 9364777 7174405 (12516) 20580878 Facilities and relay devices ASSETS STRUCTURE IN 2011-2012 2011 - - 3803433 - - 3803433
As of 31.12.2011 As of 31.12.2012 2012 20856028 379031 38859322 16819932 (137054) 76777259 Plant equipment Index thousand % of total % of total 2011 - - 20856060 - (32) 20856028 rubles assets thousand rubles assets 2012 54396 - 93910 188670 (867) 336109 Intangible assets - - 11579 - Vehicles Research and development results - - 6509 - 2011 - - 54396 - - 54396 Fixed assets, including: 32821634 92.64 170285946 74.29 2012 12803 (428) 40908 42596 (1605) 94274 Production and Construction in progress - - 48732880 - auxiliary stock 2011 - - 12803 - - 12803 Interest-bearing investments in tangible - - 48599 0.02 assets 2012 6188 (245) 11981 2789 (242) 20471 Non-current Long-term financial investments - - 7285215 3.18 Office equipment assets 2011 - - 6188 - - 6188 Deferred tax assets 131637 0.37 2846788 1.24 2012 20522 - 24321 155291 (118) 200016 Other, including: 119555 0.34 9733394 4.25 Land plots Investments in non-current assets - - 16916 - 2011 - - 20522 - - 20522 Accounts receivable 116433 - 8738998 - 2012 354753 (353050) 213 19518 (593) 20841 Other fixed assets Other non-current assets 3122 - 977480 - 2011 - - 354753 - - 354753
1 Fixed assets are shown at original cost value, exclusive of depreciation. 2012 2012
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In 2011, as a contribution to the charter capital, and further incorporation with the Company. As of the beginning of 2012, there were no Long-term financial investments
fixed assets valuing 30079609 thousand rubles At that, the residual value of the assets with the costs of construction in progress. During 2012, As of the reporting date, long-term financial 65 were transferred to the Company, including transferring party was adopted as the original investment of 36293581 thousand rubles was investments excusive of a reserve accounted for 64 movable and immovable property. A part of the cost value of the assets. made (construction of new production facilities), 3.18% of the total value of assets and 3.83% of fixed assets, in the amount of 3782329 thousand assets were acquired in the amount of 72350079 the value of non-current assets. Rubles, was acquired under sale contracts 2. Acquisition of assets from OJSC LLC INTER thousand rubles, and facilities valued at 59821620 signed between OJSC LLC INTER RAO UES and RAO UES being part of the assets groups of thousand rubles were commissioned. The Company has no pledged financial FINANCIAL AND ECONOMIC FINANCIAL the Company. Ivanovskiye CPP, Kaliningradskaya TPP-2, investments. OVERVIEW PERFORMANCE Severo-Zapadnaya TPP, and Sochinskaya TPP. In 2012, the acquisition of fixed assets was related to the following economic activities: 3. Commissioning of new generating capacities: BREKDOWN OF INVETMENTS IN SUBSIDIARY, DEPENDENT AND OTHER a 450 MW CPP power unit at the Urengoyskaya 1. Reorganization in the form of separation TPP, and a 225 MW power unit No.3 at the COMPANIES of production assets from OJSC OGK-1 and Kharanorskaya TPP. thousand rubles PERFORMANCE OVERVIEW FINANCIAL ECONOMIC AND OJSC OGK-3 into 100% subsidiaries, OJSC As of 31.12.2012 As of 31.12.2011 First Generation and OJSC Third Generation Index Original cost value Reserve Original cost value Reserve Construction in progress Investments in subsidiary companies 6 030 342 56 103 – – NVGRES HOLDING LIMITED 5872720 - – – thousand rubles Open Joint-Stock Company Upravleniye Changes for the period Tekhnologicheskogo Transporta 72183 25658 – – At the Accepted for Open Joint-Stock Company Gostinitsa Kostromskoy TPP 21498 1202 – – beginning At the end Index Period Acquired record-keeping of reporting of reporting Costs for the as fixed assets or Open Joint-Stock Company RSP TPK Kostromskay TPP 18969 1711 – – period resulting from Retired period period reorganization value increased/ issued for Open Joint-Stock Company Sanatoriy-Profilaktoriy installation Lukomorye 16939 - – –
Construction Open Joint-Stock Company Kommunalnik 500 0 in progress 2012 41694604 72350079 (65222643) (89160) 48732880 48 732 880 Open Joint-Stock Company Kompleksniy Energeticheskiy and pending Remont 12872 12872 transactions covering Open Joint-Stock Company Teplovaya Servisnaya 13961 13961 purchasing, Kompaniya upgrading, etc. of fixed assets total, 2011 - - - - - – Open Joint-Stock Company Energia-1 200 200 including: Open Joint-Stock Company Yuzhnouralskaya Teplosbitovaya Kompaniya 500 500 2012 – 3138315 2914235 (5401023) – 651527 Equipment to be Investments in dependent companies 15060295 13970339 – – installed 2011 – – – – – – Open Joint-Stock Company RUSIA Petroleum 15060290 13970334 – – Creation of new 2012 – 26861954 66471818 (48107322) (87687) 45138763 fixed assets, Other 5 5 – – including 2011 – – – – – – construction Investments in other companies 13635 473 – – Costs of 2012 – 2236264 2916218 (2217719) (585) 2934178 reconstruction, upgrading, completion of construction, and 2011 – – – – – – adding equipment 2012 – 24333 43 (24321) – 55 Land plots 2011 – – – – – –
2012 – 9433738 47765 (9472258) (888) 8357 Other investment 2011 – – – – – – 2012 2012
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CURRENT ASSETS At the beginning of At the end of reporting reporting period period 67 CURRENT ASSETS STRUCTURE IN 2011-2012 Index Period discounted as reserve for bad discounted as reserve for bad per contract debts per contract debts 66 As of 31.12.2011 As of 31.12.2012 terms terms Index 2012 1416562 – 19828316 4166750 thousand thousand rubles % Short-term accounts receivable total, rubles including 2011 – – 1416562 – Total reserves, of which: 9 - 7199881 18.47 FINANCIAL AND ECONOMIC FINANCIAL 2012 944483 – 14960347 3712321 OVERVIEW PERFORMANCE Raw materials, of which: 9 - 7199881 - Purchaser and customer debts 2011 – 944483 – Fuel oil - - 1620129 - 2012 468329 – 1023133 2187 Coal - - 2720770 - Advances made 2011 – 468329 – Other 9 - 2858982 - 2012 3750 – 3844836 452242 Value Added Tax for acquired assets 7 - 822921 2.11 Other debtors
PERFORMANCE OVERVIEW – – 3750 – FINANCIAL ECONOMIC AND Accounts receivable 1416562 60.11 15661566 40.17
Short-term financial investments (excluding cash equivalent) - - 2330405 5.98
Cash and cash equivalent 938978 39.85 12811985 32.86 On the balance sheet, accounts receivable – LIABILITIES Other (VAT and other current assets) 955 0.04 162254 0.42 which are expected to be paid more than in Total current assets 2356511 100.00 38989012 100.00 12 months after the reporting date at the end The Company’s total liabilities amount to of the reporting period – are shown under the 229207042 thousand rubles, of which 183981268 «Other non-current assets» item in the amount of thousand rubles or 80.27% are capital and 8738998 thousand rubles (as of December, 31, reserves; 22710987 thousand rubles or 9.91% are The majority of current assets are made up of 38 989.012 thousand rubles, mainly due to the 2011: 116443 thousand rubles, as of December, long-term liabilities; 22514787 thousand rubles or accounts receivable. In comparison with the increase in accounts receivables. 31, 2010: 0 thousand rubles). 9.83% are short-term liabilities start of the year, current assets increased to
Accounts receivable in 2011-2012 LIABILITIES STRUCTURE IN 2011-2012
ACCOUNTS RECEIVABLE As of 31.12.2011 As of 31.12.2012 thousand rubles Index thousand rubles % thousand rubles % At the beginning of At the end of reporting reporting period period Capital and reserves 34817160 98.27 183981268 80.27 Index Period discounted as discounted as per contract reserve for bad per contract reserve for bad Loans and credits – – – – terms debts terms debts Deferred tax liabilities 200345 0.57 4790274 2.09 Long-term 2012 116433 – 8815892 76894 liabilities Long-term accounts receivable total, Estimated liabilities – – 705271 0.31 including 2011 – – 116443 – Other 6644 0.02 17215442 7.51 2012 – – 15693 – Purchaser and customer debts Loans and credits – – – – 2011 – – – – Accounts payable 405188 1.14 20617619 9.00 Short-term 2012 116433 – 8420312 76894 liabilities Advances made Deferred income – – 1679 0.00 2011 – – 116443 – Estimated liabilities – – 1895489 0.83 2012 – – 379887 – Other debtors Total 35429337 100.00 229207042 100.00 2011 – – – – 2012 2012
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CAPITAL AND RESERVES Loans and Credits thousand rubles 10.6 billion rubles, the current liquidity ratio in the As of December 31, 2012, OJSC LLC INTER RAO reporting period will be 3.27, and the absolute 69 Capital and reserves As of 31.12.2012 As of 31.12.2011 - Electric Power Plants has no loans or credits. liquidity ratio will be 1.27, respectively.
68 Charter capital 170887329 30089791 Surplus capital (without re-evaluation) 13505056 4707918 FINANCIAL FINANCIAL SOUNDNESS AND Reserve capital 973 - VIABILITY INDICES Uncovered loss/undistributed profits (412090) 19451 PERFORMANCE OF THE FINANCIAL AND ECONOMIC FINANCIAL Index 2011 2012 OVERVIEW PERFORMANCE Total 183981268 34817160 COMPANY IN 2012 Financial soundness ratio 0.99 0.90 Due to the reorganization of the Company on OJSC OGK-1 and OJSC OGK-3 in the form of KEY LIQUIDITY INDICES Net debt/ EBITDA -0.68 -2.91 October 1, 2012, in the form of incorporation of separation, the Company issued 140797537426 EBITDA/Interest payable - 43.91 OJSC First Generation and OJSC Third Generation additional ordinary shares. Index 2011 2012 Equity to liabilities ratio 0.98 0.80 established as a result of the reorganization of Current liquidity ratio 5.82 1.34 Net debt at the end of the period, million tubles -938.98 -15 142.39 PERFORMANCE OVERVIEW FINANCIAL ECONOMIC AND ACCOUNTS PAYABLE Absolute liquidity ratio 2.32 0.67 ACCOUNTS PAYABLE The change in the indices of financial soundless The change in the liquidity ratios of 2012 is ratio and equity to liabilities ratio as compared with тыс. руб. primarily due to the increase of the short-term the same period of the last year is insignificant. At the beginning of At the end of reporting accounts payable resulting from the transfer to Index Period reporting period period the Company’s balance of assets belonging to The net debt/EBITDA ratio is negative as no 2012 6644 17215442 Long-term accounts payable total, including the Ivanovskiye CPP (10.6 billion rubles) under accounts payable to credit organizations are 2011 - 6644 sale contracts. As calculated, exclusive of the present in the reporting periods. 2012 - 17203612 Suppliers and contractors short-term accounts payable in the amount of 2011 - - 2012 6644 11830 Other creditors KEY TURNOVER INDICES 2011 - 6644 2012 405188 20617619 Short-term accounts payable total, including Index 2011 2012 2011 - 405188 Days sales in inventory, days* 00.00 57.67 2012 14999 16483356 Suppliers and contractors Short-term accounts receivable period, days 295.25 125.44 2011 - 14999 including customer debt turnover, days 90.09 196.86 2012 2 226626 Debt to personnel Short-term accounts payable period, days 84.45 165.13 2011 - 2 including supplier debt turnover, days 3.13 132.02 2012 2 160740 Debt to state off-budget funds * In 2011, the Company did not lead industrial activities, and no reserves were present. 2011 - 2 2012 358735 603443 Taxes and duties payable 2011 - 358735 The change in the turnover figures for the short- billion rubles). For the index calculated without the 2012 12442 96957 term accounts payable of 2012 is first of all due to accounts payable to OJSC LLC INTER RAO UES Advances received 2011 - 12442 the increase of the short-term accounts payable in the amount of 10.6 billion rubles, the reporting 2012 19008 3046497 conditioned by liabilities of the Company to OJSC period’s short-term accounts receivable turnover Other creditors 2011 - 19008 LLC INTER RAO UES under sale contracts in period index will be 80.33, and the supplier debt respect to the Ivanovskiye CPP’s assets (10.6 turnover period index will be 47.21, respectively. As of December 31, 2012, the short-term the largest share (79.93%) is taken by liabilities accounts payable amounted to 54.50% (98.39% to suppliers and contractors (as of December 31, as of December 31, 2011) of the total liabilities. In 2011: 88.54% were taxes and duties payable). the structure of the short-term accounts payable, Moscow time MSK (UTC+4)
TECHNOLOGIES AND INNOVATIONS 09:00 The innovative approach, as a main vector to the development of the Company, enables maximum use of the advantages of the cutting-edge technologies KASHIRSKAYA TPP KOSTROMSKAYA TPP 2012 2012
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INDUSTRIAL 73
72 ACTIVITY ELECTRICITY GENERATION INDUSTRIAL ACTIVITY INDUSTRIAL ELECTRICITY GENERATED BY OJSC INTER RAO - ELECTRIC POWER PLANTS POWER STATIONS
2011 2012
OJSC INTER RAO - Electric Power Plants, mln. kWh 89 953.4 89 229.6 INDUSTRIAL ACTIVITY
The amount of electricity generated by OJSC repair of two power units of the Permskaya TPP, INTER RAO - Electric Power Plants in 2012 totaled which generates the largest share of electricity to 89229.554 million kWh, which is 0.8% less than among the stations of OJSC INTER RAO - Electric in 2011. The main reason for the reduction of Power Plants. power generation in 2012 is the long-scheduled
DYNAMICS OF ELECTRICITY GENERATION WITHIN OJSC INTER RAO - ELECTRIC POWER PLANTS’ STRUCTURE IN 2011-2012 mln. kWh Branch 2011 2012
Verkhnetagilskaya TPP 7877.594 8267.462
Gusinoozyorskaya TPP 4389.023 4545.801
Ivanovskiye CPP 427.157 529.581
Iriklinskaya TPP 11632.142 12841.090
Kaliningradskaya TPP-2 6327.875 6726.045
Kashirskaya TPP 8113.194 7431.521
Kostromskaya TPP 13810.356 14178.731
Permskaya TPP 15289.024 13042.949
Pechorskaya TPP 3765.618 3376.502
Severo-Zapadnaya TPP 5660.656 4679.431 406449 444649 311719 170744 133998 164834 253705 241834 232288 318619 364804 436574 January February March April May June July August September October November December Sochinskaya TPP 1104.083 723.305
Urengoyskaya TPP 174.274 662.911
Kharanorskaya TPP 2789.649 3319.032
Cherepetskaya TPP named after L.G. Zhimerin 3353.495 3480.217
Yuzhnouralskaya TPP 5239.259 5424.978
Total 89953.400 89229.554 Yuzhnouralskaya TPPYuzhnouralskaya Total 475944 499997 401927 412136 332919 8373998 447984 8616384 517887 7698926 6323087 443173 5621504 492183 5801621 482718 7115145 6809026 436711 7238574 481398 8115029 8273132 9243129 Verkhnetagilskaya TPPVerkhnetagilskaya TPPGusinoozyorskaya 623166 746282Ivanovskiye CPP 472757 658703 409273 TPPIriklinskaya 637250 389392 TPP-2Kaliningradskaya 649368 320601 71978 645759 607565 TPPKashirskaya 348339 30821 981639 761479 550099 355773 1074914 TPPKostromskaya 698754 1029341 613193 395478 0 TPPPermskaya 581317 988684 715585 411053 324978 1402873 715058 841978 991267 452043 TPPPechorskaya 1390281 312738 1026929 681459 469689 1368558 575028 0 328849 1202047 TPPSevero-Zapadnaya 1639258 734599 494224 746271 597686 1180983 372116 1434144 28396 300598 398047 370339 TPPSochinskaya 740334 1227446 1140443 617389 515505 1126070 11271 1180071 277168 547509 403034 858567 TPPUrengoyskaya 539320 1045178 111954 1067444 674968 280689 567071 736834 1053595 480698 1009284 102784 TPPKharanorskaya 179983 544435 282721 321075 764819 631693 1299644 TPP Cherepetskaya 563285 274244 79614 14984 291892 1494102 667299 650279 25918named after L.G. Zhimerin 1360365 570930 904,535 294639 258513 290376 68965 16203 61703 1441009 569001 273452 268642 364606 975360 69560 17216 1199986 6131 628452 295017 279087 274820 1422306 62432 11582 277115 1610760 274435 283166 1426 261914 286432 336492 35813 9051 167452 277324 469539 48940 15853 207696 316648 534838 49902 17462 156384 48866 214925 16707 310314 52302 16402 407373 51101 17152 452751 53026 178030 332268 Branch MONTHLY ELECTRICITY GENERATION BY THE COMPANY’S PLANTS IN 2012 THE COMPANY’S BY ELECTRICITY GENERATION MONTHLY 2012 2012
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Installed Capacity Utilization Factor In 2012, the capacity factor increased from HEAT GENERATION at the Company’s plants is mainly supplied to
For reference: The Installed capacity utilization 54.45% to 53.33%. The reduction in the plants’ those settlements located next to the plants, 75 factor (CUF) is equal to the ratio of the actual CUF is connected to the decrease in electricity In 2012, production of heat energy at the power and the generation is directly dependent on the 74 amount of electric power generated over a demand in the regions covered by the Company’s stations of OJSC INTER RAO - Electric Power climate. There were no delays in heat supply by given period to the possible amount of electric branches. Plants made up 4 020.72 thousand Gcal, 4.38 electric power plants in 2012. power generated over the same period when thousand Gcal less than in 2011. Heat generated operating at full capacity without shutdowns. The The largest CUF in 2012 was at the Kaliningradskaya
CUF indicates the level of capacity utilization for TPP-2 with 87.51%; the Kharanorskaya TPP had ACTIVITY INDUSTRIAL electric power generation. CUF of 80.82% and the Urengoyskaya TPP – DYNAMICS OF HEAT GENERATION IN 2011-2012 78.91%. In 2012 versus 2011, CUF increased thousand Gcal CUF = (V )/(N *t)*100, % at the Iriklinskaya TPP, Kharanorskaya TPP and e istc Branch 2011 2012 Kaliningradskaya TPP-2 by 5.5%, 6.8% and 5.0%, Where: respectively. At the Verkhnetagilskaya TPP, the Verkhnetagilskaya TPP 198.67 196.25
INDUSTRIAL ACTIVITY Gusinoozyorskaya TPP 320.17 297.42 Ve — the volume of electric power generated for Gusinoozyorskaya TPP, the Kostromskaya TPP, the period, kWh; the Cherepetskaya TPP and the Yuzhnouralskaya Ivanovskiye CPP 112.07 120.48
Nistc — the installed capacity, kWh; TPP, the increase of CUF amounted to 2.8%, Iriklinskaya TPP 128.09 117.20 t — the number of calendar hours in a period, in 1.5%, 1.0%, 1.0% and 2.2% respectively. At Kaliningradskaya TPP-2 162.78 152.59 hours. the Kashirskaya TPP, the Permskaya TPP, the Kashirskaya TPP 301.11 278.63 Urengoyskaya TPP, the Pechorskaya TPP, the Kostromskaya TPP 204.18 206.81 The CUF depends on the generation of plants, Sochinskaya TPP and the Severo-Zapadnaya Permskaya TPP 288.47 296.80 which varies in accordance with the demand TPP, CUF decreased by 4.2%, 10.9%, 4%, 4.3%, Pechorskaya TPP 263.69 285.14 for electricity. The technical state of equipment 27.7% and 12.6%, respectively. allows it to be fully loaded. Throughout the year Severo-Zapadnaya TPP 1240.31 1301.52 it is not uncommon for the equipment to be fully Sochinskaya TPP -- loaded during peak periods. Urengoyskaya TPP 101.71 105.03 Kharanorskaya TPP 133.70 129.81 INSTALLED CAPACITY UTILIZATION FACTOR IN 2011-2012 Cherepetskaya TPP named after L.G. Zhimerin 153.38 143.53 % Yuzhnouralskaya TPP 416.77 389.51 Branch 2011 2012 Change in 2012-2011 Total 4025.10 4020.72 Verkhnetagilskaya TPP 60.08 62.87 +2.79 Gusinoozyorskaya TPP 45.55 47.05 + 1.50 Ivanovskiye CPP 15.69 15.53 -0.16 SPECIFIC CONSUMPTION An equivalent fuel unit is an accounting unit used Iriklinskaya TPP 54.65 60.16 +5.51 OF EQUIVALENT FUEL to compare the effectiveness of different types Kaliningradskaya TPP-2 82.56 87.51 +4.95 of fuel and their total amounts. The accepted Kashirskaya TPP 48.50 44.29 -4.21 (SCEF) FOR GENERATION equivalent unit is 1 kg of fuel with a heating value Kostromskaya TPP 43.80 44.84 +1.04 OF ELECTRICITY AND of 7,000 kcal/kg (29.31 MJ/kg). Permskaya TPP 72.73 61.87 -10.86 Pechorskaya TPP 40.56 36.26 -4.30 HEAT In 2012, the specific consumption of equivalent Severo-Zapadnaya TPP 71.81 59.19 -12.62 Using different types of fuel (solid, liquid and fuel for generation of electricity, the main Sochinskaya TPP 79.78 52.12 -27.66 gas) renders it impossible to make a generalized performance indicator of condensation power Urengoyskaya TPP 82.9 78.91 -3.99 quantitative calculation of the plants’ consumption plants, increased by 0.4 g/kWh throughout OJSC Kharanorskaya TPP 74.07 80.82 +6.75 for power generation without a special method INTER RAO - Electric Power Plants. The increase for converting different units (tons, m3) into was mostly due to the reallocation of electricity Cherepetskaya TPP named after L.G. Zhimerin 29.79 30.83 +1.04 comparable forms. For this reason, physical fuel generation among the Company’s power stations. Yuzhnouralskaya TPP 67.82 70.02 +2.20 is converted into equivalent fuel for technical Total 55.45 53.33 -1.12 purposes. 2012 2012
ANNUAL REPORT ANNUAL REPORT
SPECIFIC CONSUMPTION OF EQUIVALENT FUEL FOR GENERATING FUEL CONSUMPTION used as reserve fuel at the Iriklinskaya TPP, the
ELECTRICITY IN 2011-2012 Kashirskaya TPP, the Verkhnetagilskaya TPP, the 77 g/kWh The main fuel for the Company is gas, which Kostromskaya TPP and the Pechorskaya TPP. 76 accounted for 77.31% in the fuel balance The Gusinoozyorskaya TPP, the Kharanorskaya Branch 2011 2012 structure at the end of 2012. Three plants, the TPP and the Cherepetskaya TPP named after Verkhnetagilskaya TPP 393.5 391.2 Verkhnetagilskaya TPP, the Kashirskaya TPP L.G. Zhimerin use coal as their main fuel, and fuel Gusinoozyorskaya TPP 368.3 367.7 and the Yuzhnouralskaya TPP, also use coal oil for starting and «flaming». The total share of Ivanovskiye CPP 258.7 257.6
alongside gas as their main fuel. Fuel oil is coal in the 2012 fuel balance is 22.19%. ACTIVITY INDUSTRIAL Iriklinskaya TPP 331.1 332.1 Kaliningradskaya TPP-2 254.0 252.5 Kashirskaya TPP 347.9 349.4 FUEL MIX AT POWER STATIONS OF OJSC INTER RAO - ELECTRIC POWER Kostromskaya TPP 307.0 305.2 PLANTS IN 2012 Permskaya TPP 305.3 304.2
INDUSTRIAL ACTIVITY % in the structure Pechorskaya TPP 326.1 329.5 Branch Severo-Zapadnaya TPP 233.4 227.7 Coal Fuel oil Gas Sochinskaya TPP 265.9 274.9 Kharanorskaya TPP 99.85 0.15 Urengoyskaya TPP 429.0 306.9 Gusinoozyorskaya TPP 99.76 0.24 Kharanorskaya TPP 349.9 348.9 Urengoyskaya TPP 0.15 99.85 Cherepetskaya TPP named after L.G. Zhimerin 421.3 416.1 Yuzhnouralskaya TPP 53.50 0.07 46.43 Yuzhnouralskaya TPP 395.9 388.2 Verkhnetagilskaya TPP 27.30 0.17 72.54 Total 325.7 326.1 Permskaya TPP 0.00 100.00 Iriklinskaya TPP 0.78 99.22 SPECIFIC CONSUMPTION OF EQUIVALENT FUEL FOR HEAT GENERATION IN Pechorskaya TPP 0.84 99.16 2011-2012 Kostromskaya TPP 0.24 99.76 kg/Gcal Ivanovskiye CPP 0.07 99.93 Branch 2011 2012 Sochinskaya TPP 0.02 99.98 Kashirskaya TPP 18.68 0.16 81.16 Verkhnetagilskaya TPP 193.9 192.4 Cherepetskaya TPP named after L.G. Zhimerin 94.39 5.61 Gusinoozyorskaya TPP 184.2 183.7 Severo-Zapadnaya TPP 100.00 Ivanovskiye CPP 167.8 168.1 Kaliningradskaya TPP-2 100.00 Iriklinskaya TPP 174.5 174.4 Total 22.19 0.50 77.31 Kaliningradskaya TPP-2 113.1 113.7 Kashirskaya TPP 165.8 166.8 Kostromskaya TPP 169.5 169.6 Permskaya TPP 166.6 166.5 Pechorskaya TPP 167.7 168.0 Severo-Zapadnaya TPP 134.8 141.9 Urengoyskaya TPP 157.2 159.7 Kharanorskaya TPP 185.3 185.3 Cherepetskaya TPP named after L.G. Zhimerin 203.2 203.4 Yuzhnouralskaya TPP 180.7 176.8 Total 161.1 162.4 2012 2012
ANNUAL REPORT ANNUAL REPORT
FUEL CONSUMPTION IN 2011-2012 (FOR GENERATION) IN PHYSICAL UNITS FUEL CONSUMPTION IN 2011-2012, EQUIVALENT FUEL IN TONS (FOR
GENERATION) 79 Branch 2011 2012
78 Branch 2011 2012 Gas, mln m3 Gas, thousand e.f.t. Urengoyskaya TPP 7472 17590 Yuzhnouralskaya TPP 690.01 820.93 Urengoyskaya TPP 85.09 213.74 Verkhnetagilskaya TPP 1842.01 1924.49 Yuzhnouralskaya TPP 786.51 939.21
Permskaya TPP 3977.86 3383.53 Verkhnetagilskaya TPP 2099.49 2199.75 ACTIVITY INDUSTRIAL Iriklinskaya TPP 3238.49 3567.70 Permskaya TPP 4590.77 3914.15 Pechorskaya TPP 990.04 869.46 Iriklinskaya TPP 3691.04 4080.48 Kostromskaya TPP 3585.20 3656.92 Pechorskaya TPP 1197.61 1090.49 Ivanovskiye CPP 109.61 131.76 Kostromskaya TPP 4138.70 4234.35
INDUSTRIAL ACTIVITY Sochinskaya TPP 244.92 164.83 Ivanovskiye CPP 126.56 152.75 Kashirskaya TPP 1884.58 1752.81 Sochinskaya TPP 284.26 191.44 Severo-Zapadnaya TPP 1274.71 1070.54 Kashirskaya TPP 2174.34 2029.09 Kaliningradskaya TPP-2 1394.13 1470.74 Severo-Zapadnaya TPP 1462.36 1228.07 Total 19306.28 18989.61 Kaliningradskaya TPP-2 1597.14 1687.63 Coal, thousands of tons Total 22233.88 21961.13 Kharanorskaya TPP 1687.90 1986.76 Coal, thousand e.f.t. Gusinoozyorskaya TPP 2589.49 2691.89 Kharanorskaya TPP 926.82 1094.03 Yuzhnouralskaya TPP 2113.38 1935.96 Gusinoozyorskaya TPP 1523.25 1578.73 Verkhnetagilskaya TPP 1409.86 1479.58 Yuzhnouralskaya TPP 1209.25 1082.26 Kashirskaya TPP 599.66 530.67 Verkhnetagilskaya TPP 800.71 827.73 Cherepetskaya TPP named after L.G. Zhimerin 1648.08 1540.52 Kashirskaya TPP 523.88 466.94 Total 10048.38 10165.39 Cherepetskaya TPP named after L.G. Zhimerin 1206.16 1254.84 Fuel oil, gas turbine fuel, thousands of tons Total 6190.07 6304.53 Kharanorskaya TPP 0.76 1.18 Fuel oil, gas turbine fuel, thousand e.f.t. Gusinoozyorskaya TPP 4.32 2.74 Kharanorskaya TPP 1.06 1.65 Urengoyskaya TPP 0.26 0.23 Gusinoozyorskaya TPP 6.03 3.81 Yuzhnouralskaya TPP 0.62 1.10 Urengoyskaya TPP 0.38 0.33 Verkhnetagilskaya TPP 6.19 3.69 Yuzhnouralskaya TPP 0.85 1.51 Permskaya TPP 0.01 0.01 Verkhnetagilskaya TPP 8.51 5.04 Iriklinskaya TPP 22.88 22.98 Permskaya TPP 0.01 0.01 Pechorskaya TPP 7.35 6.59 Iriklinskaya TPP 31.95 32.09 Kostromskaya TPP 11.58 7.51 Pechorskaya TPP 10.24 9.23 Ivanovskiye CPP - 0.07 Kostromskaya TPP 15.96 10.34 Sochinskaya TPP 0.05 0.03 Ivanovskiye CPP - 0.10 Kashirskaya TPP 13.10 2.80 Sochinskaya TPP 0.07 0.05 Cherepetskaya TPP named after L.G. Zhimerin 66.56 56.70 Kashirskaya TPP 18.10 4.06 Total 133.66 105.61 Cherepetskaya TPP named afterin the name of L.G. Zhimerin 89.07 74.52 Severo-Zapadnaya TPP - - Kaliningradskaya TPP-2 - - Total 182.22 142.73 2012 2012
ANNUAL REPORT ANNUAL REPORT
GAS CONSUMPTION commercial gas (gas supplied by alternative LIMIT AND COMMERCIAL GAS SUPPLIES IN 2011-2012
Gas supply to the plants is divided into the suppliers). 81 2011 2012 following categories:
80 Branch Поставщик Limit gas Commercial gas Limit gas Commercial The main gas supplier for the branches of OJSC supply (mln supply (mln of supply (mln gas supply (mln limit gas (the gas from OJSC Gazprom INTER RAO - Electric Power Plants in 2012 of m3) m3) of m3) of m3) supplied at a minimal fixed price established by was OJSC NOVATEK. NOVATEK accounts for CJSC Gazprom Mezhregiongas North 74.72 - - - the Russian Federal Tariff Service); 73.08% of the total gas supply volume in 2012. Urengoyskaya TPP OJSC NOVATEK - - - 179.41
LLC Gazprom Mezhregiongas ACTIVITY INDUSTRIAL 559.60 - - - additional gas (Gazprom gas in excess of the Yuzhnouralskaya TPP Chelyabinsk contract limits); OJSC NOVATEK - 130.40 - 820.93 Verkhnetagilskaya TPP OJSC NOVATEK - 1842.85 - 1 925.22 GAS SUPPLY STRUCTURE BY BRANCH IN 2012 Permskaya TPP* OJSC NOVATEK-Perm* - 3977.86 - 3 383.53 Iriklinskaya TPP OJSC NOVATEK - 3238.49 - 3 567.71 INDUSTRIAL ACTIVITY Branch Supplier Gas supply % of total (millions of m3) supplies LLC Gazprom Mezhregiongas Ukhta 688.75 - 93.84 - Urengoyskaya TPP OJSC NOVATEK 179.41 0.94 JSC Russian Gas Company - 288.85 - 391.41 Pechorskaya TPP Yuzhnouralskaya TPP OJSC NOVATEK 820.93 4.32 OJSC NOVATEK - - - 384.21 Verkhnetagilskaya TPP OJSC NOVATEK 1925.22 10.13 LLC Novourengoyskaya Gas Company - 12.44 - - Permskaya TPP OJSC NOVATEK-Perm 3383.53 17.81 LLC Gazprommezhregiongas Kostroma 2795.43 - 2854.19 - Iriklinskaya TPP OJSC NOVATEK 3567.71 18.78 Kostromskaya TPP OJSC NOVATEK - 771.69 - 802.74 LLC Gazprom Mezhregiongas Ukhta 93.84 0.49 LLC Novourengoyskaya Gas Company - 18.09 - - Pechorskaya TPP CJSC Russian Gas Company 391.41 2.06 LLC Gazprom Mezhregiongas Ivanovskiye CPP Ivanovo 112.89 - 140.54 - OJSC NOVATEK 384.21 2.02 Sochinskaya TPP LLC Gazprom Mezhregiongas 244.97 - 164.55 - LLC Gazprom Mezhregiongas Kostroma 2854.19 15.02 Krasnodar Kostromskaya TPP Kashirskaya TPP OJSC NOVATEK - 1884.58 - 1 752.81 OJSC NOVATEK 802.74 4.22 Severo-Zapadnaya TPP OJSC NOVATEK - 1274.71 - 1 070.54 Ivanovskiye CPP LLC Gazprom Mezhregiongas Ivanovo 140.54 0.74 CJSC Gazprom Mezhregiongas Kaliningradskaya TPP-2 St. Petersburg 1395.46 - 1470.82 - Sochinskaya TPP LLC Gazprom Mezhregiongas Krasnodar 164.55 0.87 Total 5871.83 13439.96 4723.93 14278.50 Kashirskaya TPP OJSC NOVATEK 1752.81 9.22 % of total gas supply 30.41% 69.59% 24.86% 75.14% Severo-Zapadnaya TPP OJSC NOVATEK 1070.54 5.63 *Before July 1, 2011 – OJSC NOVATEK, from July 1, 2011 – OJSC NOVATEK-Perm Kaliningradskaya TPP-2 CJSC Gazprom Mezhregiongas St. Petersburg 1470.82 7.74
Total 19 002.43 100.00
In 2012, limit gas was supplied to the Pechorskaya TPP, the Kostromskaya TPP, the Ivanovskiye CPP, the Sochinskaya TPP, and the Kaliningradskaya TPP-2. 2012 2012
ANNUAL REPORT ANNUAL REPORT
GAS COST STRUCTURE IN 2011-2012 Gas category by branch 2011 2012
Kashirskaya TPP 6282873.90 6352667.96 83 thousand rubles, excluding VAT Limit gas --
82 Gas category by branch 2011 2012 Additional gas -- Gas, total 56124567.44 59270780.05 Commercial gas 6282873.90 6352667.96 Limit gas 15173384.07 13,093,327.16 Severo-Zapadnaya TPP 3940880.34 3554549.78 Additional gas 3015914.45 3134852.09 Limit gas -- Commercial gas 37935268.92 43042 600.80 INDUSTRIAL ACTIVITY INDUSTRIAL Additional gas -- Urengoyskaya TPP 129851.86 349873.79 3 940 880,34 3 554 549,78 Limit gas 129815.12 - Commercial gas 3940880.34 3554549.78 Additional gas 36.74 - Kaliningradskaya TPP-2 4321319.97 4917073.26 Commercial gas - 349873.79 Limit gas 1827024.10 2002019.22 Yuzhnouralskaya TPP 2007181.64 2474896.87 INDUSTRIAL ACTIVITY Additional gas 2494295.87 2915054.04 Limit gas 1636966.91 - Commercial gas -- Additional gas -- Commercial gas 370214.73 2474896.87 Verkhnetagilskaya TPP 4934715.79 5518058.71 GAS SUPPLY STRUCTURE IN 2011-2012 Limit gas -- Additional gas -- 30.41% 75.14% 69.59% Commercial gas 4934715.79 5518058.71 Permskaya TPP 10114350.72 9265907.77 24.86% Limit gas -- Additional gas -- Commercial gas 10114350.72 9265907.77 Iriklinskaya TPP 8866119.82 10526454.34 Limit gas -- Additional gas -- 2011 2012 Commercial gas 8866119.82 10526454.34
Pechorskaya TPP 2617728.91 2458776.65 Commercial gas Limit gas Limit gas 1677668.07 258943.16 GAS COST STRUCTURE IN 2012 Additional gas 80993.02 - (thousand rubles, excluding VAT) Commercial gas 859067.82 2199,833.49 5.29% Kostromskaya TPP 11661766.94 12739143.83 72.6% Limit gas 9050407.18 9928190.81 In addition to price discounts and the option to 22.09% change delivery schedules, the transition to Additional gas 44313.95 10594.91 NOVATEK gas also freed the Company from Commercial gas 2567045.80 2800358.10 having to buy additional gas from Gazprom and Ivanovskiye CPP 353739.24 490759.18 its related companies at increased prices. Limit gas 343865.52 403171.71 Additional gas 9873.72 87587.47 Commercial gas -- Sochinskaya TPP 894038.31 622617.92 Limit gas 507637.16 501002.26 Additional gas 386401.15 121615.67 Commercial gas Additional gas Commercial gas -- Limit gas 2012 2012
ANNUAL REPORT ANNUAL REPORT
GAS SUPPLIERS FOR BRANCHES OF COAL CONSUMPTION by the coal mining company OJSC Chelyabinsk
OJSC INTER RAO - ELECTRIC POWER PLANTS The Company’s strategy is to purchase fuel Coal Company to the Yuzhnouralskaya TPP was 85 % at competitive prices simultaneously ensuring performed by LLC LogoTransEnergo based on a 84 Supplier 2011 2012 reliability of supply. general coal supply contract. OJSC NOVATEK 47.34 55.27 T-brand coal was supplied to the Kashirskaya FUEL OIL (LIQUID FUEL) OJSC NOVATEK-Perm 20.60 17.81 TPP and Cherepetskaya TPP named after L.G. LLC Gazprom Mezhregiongas Kostroma 14.48 15.02 CONSUMPTION
Zhimerin by OJSC UK Kuzbassrazrezugol based ACTIVITY INDUSTRIAL CJSC Gazprom Mezhregiongas St. Petersburg 7.23 7.74 on a general consolidated approach to quantities In 2012, framework contracts for delivery of fuel CJSC Russian Gas Company 1.50 2.06 of coal supplied to the two plants. Contracts for oil to meet the needs of the OJSC INTER RAO - LLC Gazprom Mezhregiongas Krasnodar 1.27 0.87 supply of coal to the Verkhnetagilskaya TPP, Electric Power Plants’ branches were concluded LLC Gazprom Mezhregiongas Ivanovo 0.58 0.74 the Kharanorskaya TPP, the Gusinoozyorskaya on the basis of an open tender. Suppliers were LLC Gazprom Mezhregiongas Ukhta 3.57 0.49 TPP, the Cherepetskaya TPP named after L.G. selected on the basis of closed bids when fuel oil INDUSTRIAL ACTIVITY LLC Gazprom Mezhregiongas Chelyabinsk 2.90 Zhimerin (supply of SS-brand coal) and the was required. CJSC Gazprom Mezhregiongas North 0.39 Yuzhnouralskaya TPP are concluded yearly based results of tenders. In 2012, fuel oil was supplied to the LLC Novourengoyskaya Gas Company 0.16 Gusinoozyorskaya TPP, the Kharanorskaya Total 100.00 100.00 Transportation of coal supplied by OJSC UK TPP, the Yuzhnouralskaya TPP, the Iriklinskaya Kuzbassrazrezugol to the Kashirskaya TPP and TPP, the Pechorskaya TPP, the Kostromskaya the Cherepetskaya TPP named after L.G. Zhimerin TPP, the Sochinskaya TPP (diesel fuel), and the COAL SUPPLIERS FOR BRANCHES OF as well as of coal supplied by LLC ESK ARMZ Cherepetskaya TPP named after L.G. Zhimerin. OJSC INTER RAO - ELECTRIC POWER PLANTS to the Kharanorskaya SRP Pand coal supplied
2011 2012 Supplier thousand tons % thousand tons %
OJSC UK Kuzbassrazrezugol 1060.82 10.03 1729.36 16.89 FUEL OIL SUPPLY IN 2012 LLC Resursenergougol 1455.31 13.76 1727.53 16.87 Branch Supplier Annual fuel oil supply 2012, LLC Trans TEK thousands of tons (LLC SibZhelTorg) 1832.75 17.32 1496.26 14.61 CJSC Irkutsknefteprosukt 4.52 LLC ESK ARMZ 1180.16 11.15 1146.43 11.20 Kharanorskaya TPP LLC Magnatek 1.02 LLC Coal Pit 649.70 6.14 1095.02 10.69 Gusinoozyorskaya TPP CJSC Irkutsknefteprosukt 2.05 OJSC SUEK 1307.32 12.36 1033.94 10.10 LLC RegoinNefteTrade 0.28 LLC TEK Invest 618.40 5.84 921.52 9.00 Yuzhnouralskaya TPP (LLC UK bain-Zukhre) CJSC TD Ellit 0.53 LLC Promsnab 624.09 5.90 443.88 4.34 LLC RegoinNefteTrade 14.94 Iriklinskaya TPP LLC Buryatigol 223.20 2.11 238.56 2.33 LLC Logistika Trade 6.99 OJSC Chelyabinsk Coal Company 395.38 3.74 215.55 2.11 LLC PromTekhResurs 5.00 Pechorskaya TPP OJSC Krasnoyzrskkrayugol 544.74 5.15 84.81 0.83 LLC LUKOIL-Rezervnefteproduct 2.99 LLC East Coal Company 79.33 0.77 OJSC TNK-BP Holding 14.75 Kostromskaya TPP LLC LogoTransEnergo 22.46 0.22 LLC MAGNATEK 5.01 LLC Energougol 530.81 5.02 4.69 0.05 Sochinskaya TPP LLC YugDieselOil 0.20 CJSC UK Port 94.83 0.90 OJSC TNK-BP Holding 29.06 LLC Rosekspoles 60.26 0.57 Cherepetskaya TPP named CJSC Ufaoil 13.01 LLC AdS Ritek 2.16 0.02 after L.G. Zhimerin LLC PromTekhResurs 3.00 Total 10579.91 100.00 10239.33 100.00 LLC RegoinNefteTrade 10.00 Total 113.34 2012 2012
ANNUAL REPORT ANNUAL REPORT
The plans of the Ministry of Energy of the Russian power boilers, including those with cross links:
Federation in respect to the accumulation of a overhaul and medium repairs for 17 639.0 tons/h, 87 standard inventory of fuel were accomplished routine maintenance for 39 693.4 tons/h; 86 thousand tons by all branches on the first day of each month in 2012. water boilers: routine maintenance for 264.3 Gcal/h. MAINTENANCE AND
The cost of implementation of the Program ACTIVITY INDUSTRIAL REPAIR OF POWER amounted to 5 652.0 million rubles or 96% of the GENERATING plan. EQUIPMENT QUALITY OF MAINTENANCE
INDUSTRIAL ACTIVITY 2012 MAINTENANCE PROGRAM After the repairs and maintenance work, RESULTS the equipment was commissioned with the following result: “Compliant with Normative and In accordance with the Company’s 2012 Technical Documentation”. No repeated repairs maintenance program, the following items took place. After the repairs and maintenance underwent repairs: work, the equipment’s technical and economic performance indicators have fallen within the steam and hydraulic turbines: overhaul standard boundaries. and medium repairs for 5 618.5 MW, routine maintenance for 13 819.5 MW;
REPAIR COST (BY COST ITEMS) DYNAMICS FOR 2010-2012 (VALUES ARE DISPLAYED IN
As of 01.01.2012 As of 01.10.2012 As of 01.01.2013 ACCORDANCE WITH 2012 PRICES, MILLION RUBLES)
7000
Plan Fact % Plan Fact % Plan Fact % 5 873 5752 5652 6000
5000
4000 2 908 2 934 2 643 3000 Coal 150.0 164.2 109.5 143.0 346.8 242.5 150.0 305.3 203.5 Coal 95.0 189.3 199.3 113.9 407.1 357.3 95.0 314.1 330.6 Coal 100.0 247.9 247.9 108.3 177.7 164.0 100.0 300.0 300.0 Coal 190.0 326.5 171.8 155.0 258.7 166.9 190.0 204.1 107.4 Coal 200.0 410.0 205.0 188.0 339.9 180.8 200.0 348.3 174.2 Coal 130.0 266.0 204.6 104.0 227.2 218.5 130.0 154.3 118.7 Diesel 1.6 1.8 109.6 1.6 1.8 109.1 1.6 1.8 108.7 Fuel oil 10.0 11.0 110.0 9.5 10.3 109.4 9.5 10.3 108.0 Fuel oil 30.0 41.6 138.5 34.9 38.8 111.1 27.0 38.8 143.6 Fuel oil 0.5 0.5 105.1 0.4 0.5 107.0 0.3 0.5 158.1 Fuel oil 12.0 23.4 194.7 16.8 19.9 118.2 12.0 19.7 164.0 Fuel oil 0.6 1.1 188.5 0.5 0.9 188.6 0.5 0.8 168.4 Fuel oil 1.4 2.8 201.6 0.6 2.1 347.5 0.6 2.1 355.7 Fuel oil 0.8 1.4 169.8 0.7 0.8 126.4 0.7 2.5 358.6 1 734 1 735 Fuel type 1 612 2000
1000 1 353 1 084 1 274
2010 2011 2012
In-house services Contractor services Components and materials Branch Severo-Zapadnaya TPPSevero-Zapadnaya TPP-2Kaliningradskaya Diesel Diesel 3.0 3.1 3.8 7.6 126.8 246.9 0.1 2.6 3.8 7.6 3843.4 288.1 2.3 2.6 3.8 7.6 165.4 287.6 Cherepetskaya TPP named Cherepetskaya after L.G. Zhimerin Sochinskaya TPPSochinskaya TPP Kashirskaya Diesel 1.3 1.3 103.0 1.5 1.5 101.4 1.5 1.5 100.4 Permskaya TPPPermskaya TPPIriklinskaya TPPPechorskaya TPPKostromskaya Fuel oilIvanovskiye CPP Fuel oil Fuel oil Fuel oil 3.5 25.0 10.0 45.0 4.2 34.3 10.8 119.3 76.6 137.2 107.9 170.2 3.5 38.0 10.5 44.8 41.2 4.2 12.2 92.2 108.3 119.3 116.1 205.8 25.0 3.5 10.0 44.8 33.8 4.2 12.2 85.9 135.4 119.2 121.9 191.7 Verkhnetagilskaya TPP Verkhnetagilskaya Urengoyskaya TPPUrengoyskaya TPP Yuzhnouralskaya GTF 0.4 1.2 308.0 0.4 1.0 249.6 0.4 1.0 249.6 Gusinoozyorskaya TPP Gusinoozyorskaya Kharanorskaya TPP Kharanorskaya FUEL RESERVE PLAN FULFILLMENT IN 2012 PLANTS – ELECTRIC POWER BRANCHES OF OJSC INTER RAO FUEL RESERVES BY 2012 2012
ANNUAL REPORT ANNUAL REPORT
REPAIR COST DYNAMICS FOR 2010-2012 (VALUES ARE DISPLAYED
IN ACCORDANCE WITH 2012 PRICES) 89 million rubles 88 2011 2012
5 752 5 652
REPAIR COST DYNAMICS FOR 2011-2012 BY MAIN PRODUCTION ASSETS ACTIVITY INDUSTRIAL (VALUES ARE DISPLAYED IN ACCORDANCE WITH 2012 PRICES) MILLION RUBLES
A) Facilities and Equipment
INDUSTRIAL ACTIVITY 2011 2012
5 050 5 050
B) Buildings and Structures
2011 2012
702 602
QUANTITY OF POWER UNIT (EQUIPMENT) REPAIRS IN 2012 (BY CATEGORY)
Type of repair Actual in 2012
Overhaul 23
Medium repairs 19
Routine maintenance 74
PLANS FOR 2013 medium repairs of 16 turbines with a total For 2013, the following has been planned at the power capacity of 3934.0 MW and 16 steam Company’s branches: boilers with a total steam production capacity of 12175 tons/h; overhauls of 14 turbines with a total power capacity of 2274.0 MW and 14 steam boilers with routine maintenance of 77 turbines with a total steam production capacity of 7210.0 tons/h; total power capacity of 16020 MW and 72 steam boilers with a total steam production capacity of 46556.6 tons/h. Moscow time MSK (UTC+4)
RELIABILITY AND EFFICIENCY 09:00 The Company aims to ensure maximum reliability of its equipment and improve the efficiency of its existing production facilities DZHUBGINSKAYA TPP CHEREPETSKAYA TPP 2012 2012
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INFORMATION ON THE in accordance with the terms and conditions of network companies and major consumers ELECTRICITY STRUCTURE OF THE relevant capacity sale (supply) contracts. participating in the wholesale market are carried 93 out on the basis of the Wholesale Electric Power 92 AND HEATING ELECTRICITY MARKET In accordance with the Federal Law No. 35-FZ and Capacity Market Regulations approved by dated March 23, 2003 “On Electricity» Wholesale the Decree of the Russian Government No. 1172 The Wholesale Electricity and Capacity Market Energy Market participants are persons (entities) dated December 27, 2010 and the Agreement SALES is the primary market for the sale of products that produce electricity, heat power and capacity; for Joining the Wholesale Electricity and Capacity SALES HEATING AND ELECTRICITY generated by the Company’s branches. purchase and sell electric power and capacity, Market Trading System. Signing the Agreement supply power to consumers; and render electricity for Joining the Wholesale Electricity and Capacity The Wholesale Electricity and Capacity Market transmission services, and operation and Market Trading System (Not-for-Profit Partnership (hereinafter referred to as the Wholesale Market), management services in the electricity industry. Market Council) is mandatory for participation in pursuant to the Federal Law No. 35-FZ, dated wholesale electricity and capacity sales. March 23, 2003 “On Electricity”, is the sector The Russian power supply system functions on for electricity and capacity distribution within the the basis of the combination of state-regulated The Company trades electricity and capacity Unified Energy System of Russia in the Russian technical and commercial infrastructure and the on the Wholesale Market using the following ELECTRICITY AND HEATING SALES Federation economic area. Major producers and competition between companies generating and mechanisms: major buyers of electric power, as well as other distributing electricity. entities that have wholesale market status and Regulated Contracts (RC). Regulated Contracts operate on the basis of the wholesale market The technological infrastructure is provided by the are contracts for the supply of electric power regulations approved by the Russian Government, following organizations: the company managing and energy based on take-or-pay terms. This participate in this market. The Wholesale the unified national electric network (OJSC means that the buyer has to purchase the volume Electricity and Capacity Market is divided into two Federal Grid Company of Unified Energy System), established in the contract regardless of how much price zones: The First Price Zone (Europe and the company providing operative management power is actually consumed, and the supplier the Urals) and the Second Price Zone (Siberia). (OJSC System Operator of the Unified Power has to supply the agreed volume either through The territories of the Russian Federation on which System), and inter-regional distribution network generating its own power within the day-ahead the competitive market cannot operate, for one companies. market, purchasing it from other suppliers on the reason or another (Arkhangelsk and Kaliningrad day-ahead market, or based on free contracts. regions, Far East territories) are regarded as non- The commercial infrastructure consists of OJSC Regulated Contracts are signed in accordance price zones. Here electricity and capacity is sold Trade System Administrator and a 100% subsidiary with the standard form constituting an addendum at nonregulated tariffs. of the Nonprofit Partnership Market Council (NP to the Agreement on Joining the Wholesale Market Market Council), OJSC Financial Settlements Trading System, where OJSC ATS is the third party In isolated systems with no technical connections Center with all of its shares distributed among in a regulated contact, controlling the compliance to the Unified Power System, the electricity and two shareholders – NP Market Council and OJSC of the parties involved to changes in the contracted capacity wholesale market is absent, so electricity Trade System Administrator. The infrastructure volumes and arranging and controlling financial is supplied within regulated retail markets. companies, including their pricing, policy- settlements under regulated contracts. building and terms and conditions of contractor In accordance with Wholesale Market regulations, agreements, are state governed. Prices for electric power and capacity under capacity is a special product, the sale of regulated contracts correspond to supplier power which entails a wholesale market participant’s The relevant generating companies generate and and capacity tariffs determined by the Russian obligation to maintain the owned or otherwise sell electricity on the wholesale and retail markets Federal Tariff Service. legally possessed generating equipment in to distribution companies or to major end users a state of readiness for generation of electric participating in the wholesale market. Distribution The basic anticipated power (capacity) volume power, including the necessary repairs of the companies purchase electricity on the wholesale and the anticipated power (capacity) volume are generating equipment, while creating the right and retail markets and sell it to end users. determined for each supplier’s power plant and correspondence to the said obligation for other Electric power and capacity sales from the power for each group of destinations of the electricity market participants to require proper performance generating companies, distribution companies, (capacity) purchaser destination group. 2012 2012
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The main principle for determining contract production and consumption to be planned by to anticipated consumption in the power system, Every buyer (supplier) is entitled to sell/buy
parties and volumes is that the cost of electricity loading the most efficient generating capacities. economic efficiency of the plants’ loads, and the electricity under non-regulated bilateral electricity 95 (capacity) purchased under regulated contracts requirements of system reliability. purchase and sale contracts exclusively to/from 94 should not exceed the costs determined pursuant The DAM operates based on the following Wholesale Market participants operating in the to basic volumes and indicative prices for electric principles: On the balancing market, electricity trade is based relevant price zone. power and capacity. on the following principles: selling the electricity in excess of the volumes Non-regulated bilateral contracts and any SALES HEATING AND ELECTRICITY Beginning in 2011, regulatory contracts (RCs) are specified in regulated contracts, determined on the price bids which have been submitted to the amendments to them are registered by OJSC ATS concluded in the Wholesale Market price zones basis of short-term planning; DAM are used for BM tenders; in accordance with the procedure determined by only in relation to the amounts of electricity and the agreement on joining the trading system of the capacity designated for supply to the population buying electricity volumes that are «insufficient» BM trades with deviating volumes of actual Wholesale Market in order to take them into account and to their equivalent consumers, as well as to under regulated contracts, in case the anticipated production/consumption versus plan which when establishing obligations (requirements) for guaranteeable suppliers operating on the territory volume is less than that specified in the regulated resulted from DAM tenders; Wholesale Market participants. of the republics of the North Caucasus, the Tyva contract; Republic and the Republic of Buryatia. BM trades with electricity volumes specified The OJSC Moscow Energy Exchange electricity ELECTRICITY AND HEATING SALES purchasing electricity to support free, bilateral in operative price-accepting bids for changing commodities exchange provides trading Non-regulated Electricity Market — Electricity electricity supply contracts; planned production volumes; participants with the opportunity to conclude is traded at free (unregulated) prices. The non- exchange traded nonregulated bilateral contracts regulated electricity market has several sectors. purchasing electricity for one’s own needs. Electricity traded on the BM is paid for based on for the supply of electricity and capacity (NCs). indicators and/or up/down balancing prices. Day-Ahead Market (DAM) — Comprises Starting from July 1, 2008, the DAM has a tool which Suppliers and buyers enter into exchange traded, electricity (capacity) trade at free (nonregulated) allows Wholesale Market participants to participate Non-regulated Bilateral Contracts (NCs) — bilateral electricity and capacity purchase and sale prices determined through competitive selection in the selection of power generating equipment: Electrical power is traded at free (non-regulated) contracts when the terms and conditions of the two of contractors’ bid prices provided twenty-four the participants submit price bids to select the prices on the basis of electricity purchase and sale opposite orders submitted by the Participants at hours before the corresponding supply is due to power generating equipment mix (hereinafter contracts (hereinafter referred to as non-regulated the exchange coincide. begin. The basis of the Day-Ahead Market is the the “Equipment Mix”). The system operator bilateral contracts). competitive day-ahead bid selection conducted by calculates the optimal use for the Equipment Mix At the end of trading in the settlement period OJSC ATS with determination of hourly equilibrium optimization; the trade system administrator uses Non-regulated bilateral electricity purchase and (one month), the exchange trading system draws hub prices and supply (purchase) volumes. the calculation results to modify price bids while sale contracts have the following specific features: up electricity and capacity purchase and sale performing the competitive selection on the DAM. contracts where the contract parties are disclosed. The Day-Ahead Market (DAM) is a competitive This standardized Equipment Mix determination Wholesale Market participants independently selection of supplier and buyer bids by the procedure gives price signals to the participants. determine prices and volumes of electricity supply Non-regulated Capacity Market commercial operator (OJSC ATS) twenty-four As a result of this, power can be generated in a under non-regulated bilateral electricity purchase Currently, capacity trade has been carried out on hours before the actual supply of power with prices more efficient manner which corresponds more and sale contracts. the basis of competitive selection of capacity (CSC) and volumes determined every hour. On the DAM, closely to demand, thereby fostering growth and by the system operator. The participants of the marginal price-building is performed, i.e., the price further improvements to the system. The suppliers and buyers of electricity entering wholesale market admitted to the CSC can submit is determined by a balance of demand and supply into non-regulated bilateral electricity purchase and bids to a volume within their maximum available and is applied to all market participants. The DAM The Balancing Market (BM) sale contracts have to pay the difference between capacity registered by the Russian Federal Tariff price is determined for each of the approximately Electricity sold under mutual contracts and on the equilibrium prices in the buyer and seller’s Service in the forecast balance for the respective 800 nodes running in both price zones. the day-ahead market constitutes planned power electricity delivery point groups for each contract. regulated period. The purchaser has to pay for the consumption. However, actual consumption whole capacity selected on the CSC in their price To participate in the competitive selection, DAM inevitably deviates from planned levels. Disparities A supplier that concludes an NC shall deliver zone. participants submit bids for the total amount of between actual and planned production/ electricity to the buyer according to the volume and electricity they plan to produce or purchase. The consumption are settled in real-time mode on the price stated in the contract by including all/part The capacity market made it possible to sell results from the selection of bids are then submitted the balancing market. For every three hours of of the volume in hourly planned production and/or capacity at non-regulated prices under sales and to the system operator to allow for electricity actual supply OJSC SO UES performs additional buying electricity on the Wholesale Market. purchase contracts for electricity and capacity, competitive selections of supplier bids subject including through exchange, as well as to purchase 2012 2012
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and sell capacity based on competitive selection. the list of power generating equipment selected ELECTRICITY SALES sponds to that achieved in 2011 (a decrease of
By the Decree of the Russian Government No. with free power transfer zones indicated; less than 1%). The reduction of sales is condi- 97 1172 dated December 27, 2010, changes to the PHYSICAL INDICATORS tioned by the NC formation mechanism, by which 96 Wholesale Market Regulations were approved, capacity volumes and free (non-regulated) a generator sells a quantity of electricity in accor- thereby establishing a Long-term Capacity Market prices determined as a result of competitive The total volume of OJSC INTER RAO – Electric dance with NC actually beyond (additionally) the (LCM). Similar to electricity trade, since 2011 selection of price bids for capacity sales. Power Plants electricity sales in 2012 amounted sales within the DAM formed as a result of com- capacity has been is supplied under regulated to 92,112 million kWh, which is 15% less than in petitive selection of price bids from buyers and SALES HEATING AND ELECTRICITY contracts only in those volumes necessary for As a result of the competitive selection, each 2011. suppliers for the day ahead. To protect the NC, citizens and equivalent consumers located in supplier is obliged to ensure its generating the supplier has to buy electricity at the DAM as the second price zone. The hydroelectric plants equipment is ready to produce electricity. The 15% decrease of electricity sales in 2012, per the contract. The absence of NCs in 2012 supplying capacity in the second price zone as compared with 2011, is conditioned by the led both to the decrease in electricity sales and supplied capacity at regulated prices in 2011. Non-regulated Mutual Capacity Sales absence of free bilateral contracts in 2012. The the respective decrease of electricity purchases Contracts (SNCs) — Capacity is traded at free quantity of electricity generated in 2012 corre- (see table below). Competitive Selection of Capacity (CSC) — (non-regulated) prices based on capacity sales Capacity trade at free (non-regulated) prices is contracts. ELECTRICITY AND HEATING SALES determined from the competitive selection of price ELECTRICITY SALES AND PURCHASES IN 2011–2012 bids for capacity sales. The Company submits Non-exchange Free Capacity Sales Contract — mln kWh price bids for capacity in order to participate in the a free capacity sales contract signed between Total sales Total purchase competitive selection of capacity in relation to the wholesale market participants which constitute Name of plant Change Change capacity of generating equipment registered in the the parties of a regulated contract. Capacity sales 2011 2012 2012/2011, % 2011 2012 2012/2011, % forecast balance for the respective calendar year. volume under this type of contract may not exceed Iriklinskaya TPP 16 867 13 387 -21% 5 757 1 106 -81% the difference between the volumes determined in The CSC primarily selects the capacity that is the respective regulated contract if the capacity Permskaya TPP 22 321 13 460 -40% 7 463 758 -90% specified in the relevant capacity supply contracts were fully sold at regulated prices (without Kashirskaya TPP 12 515 7 927 -37% 4 923 975 -80%
and other such similar contracts with nuclear and liberalization) minus the volume of capacity sold Verkhnetagilskaya TPP 8 750 8 500 -3% 1 543 922 -40% hydroelectric plants. The capacity that did not pass under this regulated contract. the competitive selection is not paid for, except for Urengoyskaya TPP 184 728 295% 34 99 194% the capacity of power generating units that have Exchange-traded Free Capacity Sales Contract Kostromskaya TPP 14 320 14 625 2% 978 846 -13% to operate to maintain the technical modes of the — a free contract signed by participants based Cherepetskaya TPP named 3 480 3 579 3% 519 497 -4% power system functioning and for the delivery of on standard capacity contracts trading done at after L.G. Zhimerin heat power (forced generators). The capacity of certified exchanges. Gusinoozyorskaya TPP 4 507 4 739 5% 547 617 13% forced generators is paid for at the tariff established Pechorskaya TPP 3 586 3 187 -11% 38 17 -55% by the Federal Tariff Service. Exchange-traded capacity sales contracts are Yuzhnouralskaya TPP 5 321 5 577 5% 545 619 14% signed between suppliers and buyers if the The capacity price bid’s compliance (non- conditions of their bids submitted at the exchange Kharanorskaya TPP 2 829 3 451 22% 258 395 53% compliance) with the economic substantiation coincide. Ivanovskiye CPP 537 745 39% 134 213 60%
of monthly capacity unit prices is determined by, Sochinskaya TPP 1 161 817 -30% 97 124 28% and specified in, the Agreement for Joining the At the end of each trading settlement period (one Wholesale Market Trading System. month), the exchange trading system draws up Severo-Zapadnaya TPP 5 812 4 834 -17% 264 261 -1% capacity purchase and sale contracts where the Kaliningradskaya TPP-2 6 170 6 558 6% 0,02 0 -100% The competitive selection of capacity determines: contract parties are disclosed. Total 108 360 92 112 -15% 23 101 7 449 -68%
the list of wholesale market participants delivering capacity in the respective calendar year; 2012 2012
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ELECTRICITY SALES BY OJSC INTER RAO – ELECTRIC POWER PLANTS’ POWER STATIONS ELECTRICITY SALES BY SECTORS IN 2011–2012
mln kWh 99
RC DAM BM FBC Exchange-
98 2012 2011 Name of plant traded FBC 5% 6% 9% 0,2% 3% 8% 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 3% 4% 4% 0.5% 5% 0% 1% 1% 4% Iriklinskaya TPP 1 147 1 187 10 799 11 774 543 426 4 377 1% 1% SALES HEATING AND ELECTRICITY 5% Permskaya TPP 2 266 1 951 13 666 11 288 472 222 5 917
3% 5% Kashirskaya TPP 1 135 1 307 7 327 6 238 414 383 3 640 16% 15% 3% Verkhnetagilskaya TPP 824 833 7 392 7 311 221 356 313 Urengoyskaya TPP 24 22 156 621 5 85 Kostromskaya TPP 2 199 2 433 11 625 11 750 430 441 66 6% Cherepetskaya TPP L.G. 21% 15% 7% 499 451 2 872 3 039 109 89 Zhimerin Gusinoozyorskaya TPP 516 494 3 643 4 096 347 149
12% 9% ELECTRICITY AND HEATING SALES Pechorskaya TPP 3 068 2 850 497 299 21 38 13% 16% Yuzhnouralskaya TPP 548 578 4 679 4 875 94 124 Kharanorskaya TPP 479 323 2 258 3 021 92 106 Ivanovskiye CPP 114 137 395 525 29 83 Verkhnetagilskaya TPP Iriklinskaya TPP Permskaya TPP Urengoyskaya TPP Gusinoozyorskaya TPP Kaliningradskaya TPP-2 Pechorskaya TPP Kharanorskaya TPP Sochinskaya TPP 188 183 927 586 46 47 Dzhubginskaya TPP Kashirskaya TPP Severo-Zapadnaya TPP Cherepetskaya TPP Ivanovskiye CPP Severo-Zapadnaya TPP 1 011 1 101 4 695 3 647 106 87 Kostromskaya TPP Sochinskaya TPP Yuzhnouralskaya SPPP Kaliningradskaya TPP-2 6 170 6 5580000 Total 20 189 20 409 70 931 69 069 2 928 2 634 14 313 The main part of electricity generation and sales sales at the Urengoyskaya TPP (in percentage) is is provided by the Kostromskaya, Iriklinskaya, and conditioned by the commissioning of a new 460 Permskaya TPPs. The significant rise of electricity MW CPP power unit at the end of 2012.
ELECTRICITY PURCHASE ON THE WHOLESALE ELECTRICITY MARKET OJSC INTER RAO – ELECTRIC POWER PLANTS ELECTRICITY SALES BY SECTORS BY SECTORS IN 2011–2012
2011 2012 2011 2012 18% 38% 13% 3% 19% 22% 3%
75% 82% 62% 65%
DAM BM RC DAM BM NCE 2012 2012
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ELECTRICITY PURCHASE ON THE WHOLESALE ELECTRICITY MARKET BY ELECTRICITY TARIFF RATES IN 2011–2012 101 SECTORS IN 2011–2012 rubles/MWh mln kWh Name of plant 2011 2012
100 DAM BM FBC Name of plant Iriklinskaya TPP 884,72 883,03 2011 2012 2011 2012 2011 2012 Permskaya TPP 736,70 737,24
Iriklinskaya TPP 4 878 539 880 567 0 0 Kashirskaya TPP 996,42 992,33 SALES HEATING AND ELECTRICITY Permskaya TPP 6 370 361 1 094 397 0 0 Kashirskaya TPP, unit 3, capacity supply contract 830,33 834,16 Kashirskaya TPP 4 317 679 606 295 0 0 Verkhnetagilskaya TPP 910,83 901,84 Verkhnetagilskaya TPP 1 000 693 542 230 0 0 Urengoyskaya TPP 687,60 691,1 Urengoyskaya TPP 22 25 12 74 0 0 Kostromskaya TPP 913,58 873,3 Kostromskaya TPP 543 429 435 417 0 0 Cherepetskaya TPP named after L.G. Zhimerin 1183,04 1416,7 Cherepetskaya TPP named after Gusinoozyorskaya TPP 688,36 713,3 L.G. Zhimerin 375 384 144 113 0 0 1st half of the year: 762,11 Gusinoozyorskaya TPP 411 406 136 210 0 0 Pechorskaya TPP 772,41 2nd half of the year: 874,44 ELECTRICITY AND HEATING SALES Pechorskaya TPP 0 0 38 17 0 0 Yuzhnouralskaya TPP 988,71 985,4 Yuzhnouralskaya TPP 463 480 82 139 0 0 Kharanorskaya TPP 459,11 476,3 Kharanorskaya TPP 221 260 36 135 0 0 Ivanovskiye CPP 814,41 809,6 Ivanovskiye CPP 104 164 30 49 0 0 Sochinskaya TPP 840,96 843,3 Sochinskaya TPP 22 81 75 43 0 0 Sochinskaya TPP, unit 3, capacity supply contract 877,41 851,8 Severo-Zapadnaya TPP 127 117 138 144 0 0 Severo-Zapadnaya TPP 664,85 670,3 Kaliningradskaya TPP-2 0 0 0 0 0 0 from 01.01.2011: 793,62 1st half of the year: 696,34 Kaliningradskaya TPP-2 from 01.04.2011: 706,6 2nd half of the year: 800,43 Total 18 853 4 618 4 247 2 831 0 0
Starting from 2007, the Federal Tariff Service has 2. Power consumption level; ELECTRICITY PRICES distribution organizations whose buyers include been implementing tariff indexation in accordance Electricity generation tariffs are established each citizens and equivalent users) in order to supply with established levels. 3. Water level and temperature; year by the Federal Tariff Service pursuant to electricity to citizens as well as with wholesale Decree No. 109 “On Price Formation with regard market participants purchasing electricity The index of equal prices on the free market is 4. Transmission capacity of lines and sections; to Electric and Heat Power in the RF”, passed by (capacity) as determined by the government of influenced by the following factors: the Government of the Russian Federation on the Russian Federation and working in separate 5. Launch of new capacities and lines; February 26, 2004. regions of the price zones for which the Russian 1. The power generating equipment selected to Government has determined special conditions cover electricity consumption (including the share 6. Strategies of suppliers and consumers. Tariffs for 2012 were established by Orders on the wholesale and retail markets for 2012”; generated by hydroelectric plants and nuclear No 352-e/1 dated December 15, 2011 “On No.303-e/4 dated October 29, 2011 “On approval plants); approval of prices (tariffs) of electricity (capacity) of prices (tariffs) for electricity (capacity) supplied supplied in the price zones of the wholesale in non-price zones of the wholesale market”, market by electricity (capacity) producers under and No.426-e/3 dated December 27, 2011 «On contracts signed in accordance with the Russian approval of prices of capacity and electricity Federation legislation with guaranteeable generated by a generating facility supplying suppliers (power supply organizations, power power in a forced mode”. 2012 2012
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DAM AND RC SALES PRICE COMPARISON, On the free electricity market, the index of ACTUAL PURCHASE PRICES FOR ELECTRICITY BY WHOLESALE MARKET 103 rubles/MWh equilibrium hub prices at power stations of OJSC SECTORS IN 2011–2012 INTER RAO - Electric Power Plants has, as a 2011 2012 rubles/MWh
102 whole, exceeded the price indices of 2011. This 1000 DAM BM FBC is due to the annual indexation of prices of basic Name of plant 2011 2012. 2011 2012 2011 2012 800 963 utilities and growing power consumption. 922 Iriklinskaya TPP 959 989 836 893 SALES HEATING AND ELECTRICITY 814 796 Permskaya TPP 890 916 636 740 600 Kashirskaya TPP 965 1 002 919 997
400 Verkhnetagilskaya TPP 893 935 887 922 Urengoyskaya TPP 780 862 876 928
500 Kostromskaya TPP 905 999 891 914 Cherepetskaya TPP named after L.G. Zhimerin 1 081 1 177 1 216 1 307 Gusinoozyorskaya TPP 676 702 703 788
ELECTRICITY AND HEATING SALES DAM Pechorskaya TPP 0 0 982 1 039 RC Yuzhnouralskaya TPP 940 973 937 974 Kharanorskaya TPP 525 605 493 456 ACTUAL SALES PRICES FOR ELECTRICITY BY WHOLESALE MARKET Ivanovskiye CPP 994 1 040 1 040 1 188 SECTORS IN 2011–2012 Sochinskaya TPP 990 1 155 1 002 1 104 rubles/MWh Severo-Zapadnaya TPP 809 897 780 673 Sales price Kaliningradskaya TPP-2 0 0 0 0 Exchange- Name of plant RC DAM BM FBC traded FBC Total 922 947 1171 878 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 Iriklinskaya TPP 885 883 972 1 020 1 078 1 062 900 REVENUE FROM ELECTRICITY SALES Permskaya TPP 737 737 893 919 1 025 1 429 823 REVENUE FROM ELECTRICITY SALES IN 2011–2012 Kashirskaya TPP 951 955 993 1 034 1 005 983 1 023 mln rubles (VAT excl.) Verkhnetagilskaya TPP 911 902 923 953 828 844 942 RC DAM BM FBC Exchange- Urengoyskaya TPP 688 691 791 797 613 687 0 Name of plant traded FBC Kostromskaya TPP 914 873 1 006 1 040 1 008 1 035 924 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 Cherepetskaya TPP named Iriklinskaya TPP 1 015 1 048 10 493 12 014 586 452 3 941 after L.G. Zhimerin 1 183 1 417 1 086 1 205 1 146 1 024 Permskaya TPP 1 670 1 438 12 200 10 369 484 317 4 870 Gusinoozyorskaya TPP 688 713 672 699 670 648 Kashirskaya TPP 1 079 1 248 7 274 6 452 416 376 3 724 Pechorskaya TPP 783 823 772 808 818 882 Verkhnetagilskaya TPP 750 752 6 824 6 970 183 300 295 Yuzhnouralskaya TPP 989 985 960 1 000 735 779 Urengoyskaya TPP 16 16 123 495 3 58 0 Kharanorskaya TPP 459 476 516 601 683 318 Kostromskaya TPP 2 009 2 125 11 699 12 221 433 457 61 Ivanovskiye CPP 814 810 946 1 068 567 630 Cherepetskaya TPP named Sochinskaya TPP 860 847 1 051 1 142 711 915 after L.G. Zhimerin 590 638 3 118 3 662 125 91 Severo-Zapadnaya TPP 665 670 820 906 645 655 Gusinoozyorskaya TPP 355 353 2 448 2 862 233 97 Kaliningradskaya TPP-2 729 751 Pechorskaya TPP 2 403 2 346 384 242 17 33 Total 796 814 922 963 932 935 901 Yuzhnouralskaya TPP 542 570 4 494 4 874 69 96 Kharanorskaya TPP 220 154 1 165 1 817 63 34 Ivanovskiye CPP 92 111 374 560 16 52 Sochinskaya TPP 162 155 975 669 33 43 2012 2012
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Exchange- CAPACITY SALES BY CAPACITY MARKET SECTORS IN 2011–2012
RC DAM BM FBC 105 Name of plant traded FBC 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 MW/month Severo-Zapadnaya TPP 672 738 3 850 3 305 68 57 Non- 104 RC CSP ВM CSC Exchange- exchange- Kaliningradskaya TPP-2 4 497 4 927 0 0 Name of plant traded FBC traded FBC
Total for OJSC INTER RAO - 16 074 16 619 65 422 66 511 2 728 2 463 12 891 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 Electric Power Plants SALES HEATING AND ELECTRICITY Iriklinskaya TPP 640 698 1 328 1 554 0 48 283 Permskaya TPP 645 705 1 310 1 614 0 78 301 Kashirskaya TPP 425 453 863 1 023 0 311 319 6 183 Verkhnetagilskaya TPP 378 411 954 957 0 48 0 Urengoyskaya TPP 6 7 14 15 0 36 0 0 A major portion of the Company’s revenues is power unit 3 at the Urengoyskaya TPP. Kostromskaya TPP 972 1 059 2 124 2 453 0 380 generated on the DAM. Cherepetskaya TPP named after L.G. Zhimerin 341 364 814 0 809 0 Since July 1, 208, pursuant to Decree No. 476 ELECTRICITY AND HEATING SALES Gusinoozyorskaya TPP 225 213 778 0 782 0 The Kostromskaya, Iriklinskaya, and Permskaya dated June 28, 2008 of the Russian Government, Pechorskaya TPP 1057 1 054 0 0 0 0 TPPs generated the largest revenue in 2012. companies participate in the competitive selection of capacity (CSC). By Decree No. 1172 dated Yuzhnouralskaya TPP 231 251 476 555 0 108 December 27, 2010 the Government changed Kharanorskaya TPP 86 86 314 0 311 32 0 CAPACITY SALES capacity market rules. The selected capacity is Ivanovskiye CPP 89 46 178 99 182 0 paid to the supplier at a CSC price subject to a Sochinskaya TPP 20,7 22 44 45 66 66 0 QUANTITATIVE CAPACITY SALES seasonal ratio. Severo-Zapadnaya TPP 233 249 553 442 0 INDICATORS Kaliningradskaya TPP-2 893 874 0 0 As of 31.12.2012 the installed capacity of the In 2012, all of the capacity of OJSC INTER RAO Total 6 239 6 492 9 139 8 866 503 1 902 378 635 180 0 1 255 0 Company’s power plants was 19.7 GW. - Electric Power Plants’ generating facilities was sold in the following sectors: In 2012, 17895 MW were sold, which is 1.1% more CAPACITY PURCHASE IN 2011–2012 than in 2011 – the result of commissioning of new regulated sector (RC); MW/month power units under capacity supply contracts of Capacity purchase, MW Name of plant 2012: competitive selection of capacity (CSC); 2011. 2012. Iriklinskaya TPP 10 1 power unit 1 at the Ivanovskiye CPP; forced (sales of capacity of generating facilities Permskaya TPP 0.5 0 having the status of a forced generator); Kashirskaya TPP 4 0 power unit 2 at the Kharanorskaya TPP; Verkhnetagilskaya TPP 21 3 capacity supply contracts. Urengoyskaya TPP 1 1 Kostromskaya TPP 2 1 Cherepetskaya TPP named after L.G. Zhimerin 5 0 Gusinoozyorskaya TPP 3 0 Pechorskaya TPP 0 0 Yuzhnouralskaya TPP 9 2 Kharanorskaya TPP 0.1 0 Ivanovskiye CPP 0 0 Sochinskaya TPP 0.1 0 Severo-Zapadnaya TPP 0.6 1 Kaliningradskaya TPP-2 0 0 Total 56 9 2012 2012
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The quantity of capacity purchased in 2012 is citizens and equivalent users) in order to supply 107 significantly smaller than in 2011 due to approval electricity to citizens as well as with wholesale of the increased capacity requirement for auxiliary market participants purchasing electricity traded FBC
106 power of the plants and performance of measures (capacity) as determined by the government of
to optimize consumption of auxiliary electricity the Russian Federation and working in separate rubles/ MW, month Non-exchange- and power. regions of the price zones for which the Russian Government has determined special conditions SALES HEATING AND ELECTRICITY CAPACITY SALES PRICES on the wholesale and retail markets for 2012”; FBC No.303-e/4 dated October 29, 2011 “On approval Tariffs for 2012 were established by Orders of prices (tariffs) for electricity (capacity) supplied 2012 2011 No 352-e/1 dated December 15, 2011 “On in non-price zones of the wholesale market”;
approval of prices (tariffs) of electricity (capacity) No.426-e/3 dated December 27, 2011 “On Exchange-traded supplied in the price zones of the wholesale approval of prices of capacity and electricity market by electricity (capacity) producers under generated by a generating facility supplying contracts signed in accordance with the Russian power in a forced mode”; and No.260-e/1 “On ELECTRICITY AND HEATING SALES Federation legislation with guaranteeable capacity prices for generating facilities in respect suppliers (power supply organizations, power of which the highest prices have been specified in distribution organizations whose buyers include price bids for competitive selection of capacity”.
REVENUE FROM CAPACITY SALES IN 2011–2012 Mln rubles (excluding VAT) 2011 2012 2011
Exchange- Non- RC CSP ВM CSC traded exchange- Name of plant traded FBC FBC 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 Iriklinskaya TPP 539 588 1 943 2 266 78 418 Permskaya TPP 763 834 1 922 2 315 127 445 Kashirskaya TPP 492 525 1 222 1 492 1 673 1 713 10 259 Verkhnetagilskaya TPP 412 449 1 406 1 392 79 0 RC CSP BM CSC Urengoyskaya TPP 35 6 20 88 307 0 0 Kostromskaya TPP 883 962 3 145 3 569 548 Cherepetskaya TPP named after L.G. Zhimerin 300 516 1 204 1 140 2011 2012 Gusinoozyorskaya TPP 469 457 1 6171 662 73 449 118 125 123 286 117 367 Pechorskaya TPP 1061 1092 0 Yuzhnouralskaya TPP 337 366 710 885 152 Kharanorskaya TPP 271 221 991 799 771 Ivanovskiye CPP 281 145 554 317 1 071 Sochinskaya TPP 134 127 64 298 609 643 Severo-Zapadnaya TPP 431 351 797 865 Kaliningradskaya TPP-22970 2958 Total 9 379 9 597 12 106 13 118 3 859 3 601 2 282 4 505 295 0 1 823 0 Iriklinskaya TPP Iriklinskaya TPPPermskaya TPPKashirskaya TPPVerkhnetagilskaya TPPUrengoyskaya 70 241 TPPKostromskaya 70 241 98 581 121 890 TPPamed after L.G. Cherepetskaya TPP 90 890 98 581Zhimerin 96 484 121 482 122 279 90 890 TPPGusinoozyorskaya 96 475358 119 498 122 756 118 004 489 685 Pechorskaya 121 193 121 57767686 75 369 75 712 TPPYuzhnouralskaya 75 712 173 528 TPPKharanorskaya 83 123 373 178 610 121 258 120 718Ivanovskiye CPP 502 088148 TPPSochinskaya TPP-2 121 604 447 908 121 604294282 TPPSevero-Zapadnaya 447 939 124 354 263 612 141 416 132 698 Kaliningradskaya 215 179 137 187 277 173 270 Total 263 994 177 164 135 387 263 994 154 389 703 642 538 352 118 000 259 642 138 149 117 139 476 243 266 748 122 945 123 112 262 828 120 254 122 158 213 984 162 871 547 654 0 1 982 763 0 763 594 812 407 123 191 490 642 123 291 157 744 590 942 Name of plant CAPACITY PRICE DYNAMICS IN 2011–2012 PRICE DYNAMICS CAPACITY 2012 2012
ANNUAL REPORT ANNUAL REPORT
Since 2011, revenues from capacity sales The major part of the Company’s capacity HEAT DISTRIBUTION VERKHNETAGILSKAYA TPP 109 by OJSC INTER RAO - Electric Power Plants’ revenues are generated by the Kostromskaya The Verkhnetagilskaya TPP supplies 3.5% of the generating facilities have been mostly generated TPP and Permskaya TPP. Heat is generated by OJSC INTER RAO - Electric total heat sold by the Company’s plants. 50.3% of
108 based on CSP. Power Plants’ power stations with the main aim its total productive heat is supplied to Verkhniy Tagil of supplying inhabited settlements adjacent to the citizens and housing organizations. Heat supplier, plant and is directly dependent on the climate. In MUE HMD Verkhniy Tagil accounts for 35.1%. The ELECTRICITY AND HEATING SALES HEATING AND ELECTRICITY ACTUAL CAPACITY PURCHASE COST IN 2011–2012 2012, the Company’s plants distributed 3570.6 share from budgetary institutions is 7.7%, while mln rubles (excluding VAT) thousand Gcal of heat, which is a 0.7% increase industrial consumers receive 2.6%. compared to the previous year. This is due to a Capacity Purchase Name of plant decrease in temperature. 2011 2012 URENGOYSKAYA TPP Iriklinskaya TPP 16 2 IRIKLINSKAYA TPP The Urengoyskaya TPP supplies 1.7% of the total Permskaya TPP 0.9 0 heat sold by the Company’s plants. Heat suppliers Kashirskaya TPP 70The Iriklinskaya TPP supplies 2.6% of the overall account for 71.8%, industrial consumers account Verkhnetagilskaya TPP 35 6 heat sold by the Company’s plants. The main for 28.2% of the total productive heat supply. ELECTRICITY AND HEATING SALES Urengoyskaya TPP 1 2 consumer of the heat produced by the Iriklinskaya Kostromskaya TPP 3 1 TPP is the Municipal Institution Housing KOSTROMSKAYA TPP Cherepetskaya TPP named after L.G. Zhimerin 11 0 Management Department of the Energetik Village. Gusinoozyorskaya TPP 3 0 Heat suppliers (MU HMD of Energetik Village, The Kostromskaya TPP supplies 16% of total MUP ZhKKh of Iriklinskiy Village Council) account heat sold by the Company’s plants. Since May Pechorskaya TPP 0 0 for 96.5% of the total productive heat supply, the 01, 2008, all heat power has been supplied to Yuzhnouralskaya TPP 18 5 share of industrial consumers is 1.7%, and that of end users of Volgorechensk, Kostroma region, Kharanorskaya TPP 0.2 0 budgetary institutions is 0.5%. through OJSC RSP TPK Kostromskaya TPP, a Ivanovskiye CPP 00 wholly controlled subsidiary. Sochinskaya TPP 0.1 0 PERMSKAYA TPP Severo-Zapadnaya TPP 1.0 2 CHEREPETSKAYA TPP NAMED Kaliningradskaya TPP-2 0 0 The Permskaya TPP supplies 7.7% of the total AFTER L.G. ZHIMERIN Total 96.2 18 heat sold by the Company’s plants. The main consumers of the plant’s heat are the Dobryanka The Cherepetskaya TPP supplies 3.8% of the total housing organizations (61.6% of the total heat sold by the Company’s plants. The branch Sales prices for capacity under capacity supply This provides the supplier with a return on any productive heat supply). Budgetary and industrial supplies 4.6% of the total heat under direct contracts are fixed in such a way as to ensure investment into power generating facilities organizations account for 9.1% and 9.5%, contracts to a number of industrial companies, that the supplier’s costs are compensated within construction. respectively, and 19.7% is used to compensate whereas starting from June 1, 2006, 95.4% of 15 years with a certain level of profitability. standard losses in OJSC DTEK networks. heat has been supplied to end users of Suvorov, the Tula region, through OJSC Energiya-1, a CAPACITY SUPPLY CONTRACT PRICES KASHIRSKAYA TPP wholly controlled subsidiary. 2012 The Kashirskaya TPP supplies 7.0% of the total Name GUSINOOZYORSKAYA TPP Volume*, MW Cost, mln rubles Price, rubles/MW hear sold by the Company’s plants. The main consumer of the heat produced at Kashirskaya The Gusinoozyorskaya TPP supplies 4.9% of Ivanovskiye TPP 182 1 071 490 642 TPP is Municipal Unitary Enterprise DES Gorkhoz the total heat sold by the Company’s plants. Kashirskaya TPP, unit 3 319 1 713 447 939 which supplies heat and hot water to part of The branch supplies heat to end users of Sochinskaya TPP, unit 3 66 643 812 407 Kashira (Kashira-2). Heat suppliers account for Gusinoozersk, Buryatia Republic under direct Kharanorskaya TPP 32 771 1 982 763 82.2%, industrial consumers account for 9.8%, contracts. 63.3% of the total sold heat is supplied Urengoyskaya TPP 36 307 703 642 and budgetary institutions for 3% of the total to citizens; the share of budgetary institutions is productive heat supply. 28.7%, and 8% is supplied to other consumers. *Annual average values are shown. 2012 2012
ANNUAL REPORT ANNUAL REPORT
PECHORSKAYA TPP IVANOVSKIYE CPP PRODUCTIVE SUPPLY AND HEAT CONSUMERS IN 2011–2012 111 The Pechorskaya TPP supplies 6.3% of the The Ivanovskiye CPP supply 2.9% of the total total heat sold by the Company’s plants. Since heat sold by the Company’s plants. The main thousand Gcal
110 July 1, 2006 all heat has been supplied to end consumer is MUE Komsomolskie HMD with 2011 2012 users of Pechora, Komi Republic, through OJSC 97.8% of the total quantity; other consumers Teplovaya Servisnaya Kompaniya, a wholly receive 2.2%. controlled subsidiary. SALES HEATING AND ELECTRICITY SOCHINSKAYA TPP YUZHNOURALSKAYA TPP The plant does not supply heat. The Yuzhnouralskaya TPP supplies 10.6% of the Name of plant total heat sold by the Company’s plants. Starting SEVERO-ZAPADNAYA TPP from October 1, 2007, all heat is supplied to end users of Yuzhnouralsk, Chelyabinsk Oblast, The Severo-Zapadnaya TPP supplies 36.5% of the through OJSC Yuzhnouralskaya Teplosbitovaya total heat sold by the Company’s plants. The main ELECTRICITY AND HEATING SALES Kompaniya, a wholly controlled subsidiary. consumer of heat is SUE TEK of St. Petersburg receiving 99.8% of the total heat quantity. KHARANORSKAYA TPP
KALININGRADSKAYA TPP-2 Heat supplied, thousand Gcal/year Citizens, housing organizations, % Heat suppliers, % Budgetary institutions, % Industrial consumers, % Other consumers, % Heat to compensate losses, % Heat supplied, thousand Gcal/year Citizens, housing organizations, % Heat suppliers, % Budgetary institutions, % Industrial consumers, % Other consumers, % Heat to compensate losses, % The Kharanorskaya TPP supplies 2.8% of the total Iriklinskaya TPP 101.6 - 96.2 0.5 1.9 1.4 - 93.6 - 96.5 0.5 1.7 1.3 - heat sold by the Company’s plants. The branch The Kaliningradskaya TPP-2 supplies 4.0% of the Permskaya TPP 274.4 62.1 - 9.2 9.6 - 19.1 273.5 61.6 - 9.2 9.5 - 19.7 supplies 4.3% of total heat under direct contracts total heat sold by the Company’s plants. The only Kashirskaya TPP 242.1 - 82.6 3.7 9.5 4.2 - 250.5 - 82.2 3 9.8 5 - to a number of companies, whereas starting from consumer of heat is MUE KaliningradTeploSet. January 1, 2006, 97.7% of heat is being supplied Verkhnetagilskaya TPP 123.4 82.4 - 9.4 2.4 5.8 - 125.9 50.3 35.1 7.7 2.6 4.3 - to village of Yasnogorsk, Transbaikal, through Urengoyskaya TPP 52.7 - 75.2 - 24.8 - 59.0 - 71.8 - 28.2 - - JSC Kommunalnik, a wholly controlled subsidiary. Kostromskaya TPP 204.2 - 100 ----206.8 - 100 - - - Cherepetskaya TPP L.G. Zhimerin 147.9 - 96.8 - 3.2 - - 136.0 - 95.4 - 4.6 - - Gusinoozyorskaya TPP 192.7 60.1 - 32.6 0.7 6.6 - 173.4 63.3 - 28.7 0.8 7.2 - Pechorskaya TPP 204.4 - 100 ----225.1 - 100 - - - Yuzhnouralskaya TPP 403.6 - 100 ----377.2 - 100 - - - Kharanorskaya TPP 105.4 - 96.6 - - 3.4 - 101.3 95.7 - 4.3 - Ivanovskiye CPP 99.1 - 98.0 - - 2.0 - 102.2 - 97.8 - 2.2 - Sochinskaya TPP Severo-Zapadnaya TPP 1240.3 - 99.9 - - 0.1 - 1301.5 99.8 - 0.2 - Kaliningradskaya TPP-2 153.2 - 100 ----144.6 - 100 - - - Total 3545.0 10.9 81.3 3.1 2.1 1.1 1.5 3570.6 9.6 83.0 2.6 2.2 1.1 1.5 2012 2012
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PRODUCTIVE HEAT SUPPLY BY PLANTS IN 2011-2012 113
3.5% 5.4% 3.5% 11.4% 10.6% 4.9%
112 0% 2.8% 2.9% 4.2% 2.9% 3.8% 2.6%
3.0% 4.3% 2.8% 4.0% 1.5% 1.7% SALES HEATING AND ELECTRICITY
6.8% 7.0%
5.8% 5.8%
35% 7.7% 7.7% 36.5%
5.8% 6.3%
2011 2012 ELECTRICITY AND HEATING SALES
Verkhnetagilskaya TPP Permskaya TPP Verkhnetagilskaya TPP Permskaya TPP Gusinoozyorskaya TPP Pechorskaya TPP Gusinoozyorskaya TP Pechorskaya TPP Dzhubginskaya TPP Severo-Zapadnaya TPP Dzhubginskaya TPP Severo-Zapadnaya TPP Ivanovskiye CPP Sochinskaya TPP Ivanovskiye CPP Sochinskaya TPP Iriklinskaya TPP Urengoyskaya TPP Iriklinskaya TPP Urengoyskaya TPP Kaliningradskaya TPP-2 Kharanorskaya TPP Kaliningradskaya TPP-2 Kharanorskaya TPP Kashirskaya TPP Cherepetskaya TPP Kashirskaya TPP Cherepetskaya TPP Kostromskaya TPP Yuzhnouralskaya TPP Kostromskaya TPP Yuzhnouralskaya TPP
DYNAMICS OF HEAT PRICES IN 2011- PRODUCTIVE SUPPLY AND HEAT 2012 CONSUMERS IN 2011-2012
rubles/Gcal (excluding VAT) mln rubles (excluding VAT) Name of plant 2011 2012 Name of plant 2011 2012 Iriklinskaya TPP 627.99 654.16 Iriklinskaya TPP 63.83 61.22 Permskaya TPP 819.51 845.76 Permskaya TPP 224.86 231.35 Kashirskaya TPP 726.50 766.88 Kashirskaya TPP 175.91 192.10 Verkhnetagilskaya TPP 803.81 860.26 Verkhnetagilskaya TPP 99.16 108.32 Urengoyskaya TPP 1306.44 1356.74 Urengoyskaya TPP 68.88 79.98 Kostromskaya TPP 525.60 549.23 Kostromskaya TPP 107.32 113.58 Cherepetskaya TPP in the name of Cherepetskaya TPP in the name L.G. Zhimerin 799.70 835.78 of L.G. Zhimerin 118.24 113.62 Gusinoozyorskaya TPP 917.95 1005.97 Gusinoozyorskaya TPP 176.86 174.46 Pechorskaya TPP 605.78 626.29 Pechorskaya TPP 123.81 141.00 Yuzhnouralskaya TPP 441.11 461.46 Yuzhnouralskaya TPP 178.04 174.07 Kharanorskaya TPP 498.41 525.89 Kharanorskaya TPP 52.53 53.26 Ivanovskiye CPP 1249.12 1263.27 Ivanovskiye CPP 123.81 129.11 Sochinskaya TPP 870.04 873.92 Sochinskaya TPP - - Severo-Zapadnaya TPP 403.00 485.8 Severo-Zapadnaya TPP 499.62 632.28 Kaliningradskaya TPP-2 854.00 874.11 Kaliningradskaya TPP-2 130.85 126.40 Total 604.72 652.76 Total 2 143,72 2 330,75 Moscow time MSK (UTC+4)
IMPROVEMENT AND RENOVATION 09:00 The Company actively implements re-equipment and reconstruction programs at its power plants to ensure maximum efficiency, continuity of service and safety SOCHINSKAYA TPP of its equipment. 2012 2012
ANNUAL REPORT ANNUAL REPORT VAT 117 INVESTMENT 2012 including Technical re-equipment and reconstruction of mln rubles Financed in
116 existing fixed assets with the aim of maintaining ACTIVITIES OF highly reliable electricity generation; improving 1 the productivity and efficiency of power plants; implementing new, state-of-the-art technologies
THE COMPANY Financed as including VAT INVESTMENT ACTIVITIES and new future investment projects are all an of 31.12.2012 integral part of power companies’ business VAT activities. cost including Contracts OJSC LLC INTER RAO - Electric Power Plants Concluded carries out investment activities along the VAT
INVESTMENT ACTIVITIES INVESTMENT following lines: including Expected rease capacity of Permskaya TPP’s power unit from 410MW to rease capacity of Permskaya
implementing priority investment projects; project cost e facilities covered by capacity supply contract (unit 3 is relocated
updating existing industrial facilities. Fuel type PRIORITY commis- Capacity sioned in INVESTMENT 2012, MW PROJECTS MW 2*225 – Coal 29 999 28 272 24 906 5 781 Currently the Company is carrying out the Installed per plan,
following major investment projects: capacity as
The Company’s investment program for 2012 (along with the OJSC OGK-1 and OJSC OGK- 3» branches) included making use of the new grace period Deadline as per
construction program investment of 39 944.1 capacity supply 30.06.2014 (unit9) 31.12.2013 (unit 8) mln rubles (VAT excluded), of which 8 366.1 mln contract including rubles was for OJSC OGK-1 and 31 535.1 mln rubles for OJSC OGK-3. The actual amount of
capital investment used in 2012 was 32 330.7 contract 30.09.201231.12.2011 30.09.201231.12.2015 01.10.201231.12.2011 450 31.12.2015 225 01.11.2012 460 800 225 Gas 210 Coal 24 477 – 11 507 23 842 – Gas 11 481 Coal 33 023 23 227 11 465 7 062 24 703 7 104 6 996 1 053 1 796 6 086 1 379 1 509 31.12.201231.12.2013 31.12.201331.12.2014 30.09.2014 40031.10.2013 31.08.2015 400 – 31.10.2013 400 Gas – 2*90 20 151 Gas – 19 774 – 15 812 - Gas 14 628 14 190 16 804 – 8 949 3 123 15 726 3 121 – 9 915 7 538 – – mln rubles, or 81% of the plan. Deadline as per capacity supply The Company’s investment program for 2012 31.12.2012 (unit 8) 31.12.2013 (unit 9) (along with the OJSC OGK-1and OJSC OGK- 3» branches) envisages drawing 44 914,9 mln rubles, VAT included (which 9 357.1 mln rubles was for OJSC OGK-1 and 35 503.5 mln rubles for OJSC OGK-3) of equity for the Company’s new construction program. Actual financing of the new construction program in 2012 was 36 487.4 mln 1 The values in this Section are based on managerial rubles, or 81% of the plan. reports concerning the fulfillment of the Company’s investment from Yuzhnouralskaya TPP to Verkhnetagilskaya TPP; power unit 3.2 relocated from Nizhnevartovskaya TPP to Permskaya TPP to inc TPP to Permskaya TPP; power unit 3.2 relocated from Nizhnevartovskaya TPP to Verkhnetagilskaya from Yuzhnouralskaya 800MW).. Project * Pursuant to Decree of the Russian Government No. 1637-p dated September 11, 2012, change construction sites th Construction of power unit 450MW TPP CPP unit at Urengoyskaya Installation of unit 3 with 225 MW capacity at Kharanorskaya TPP(unit 3) Construction of 800MW CPP unit TPP at Permskaya Reconstruction of power unit at TPP plant 4 of Gusinoozyorskaya Construction of two power units with 225MW capacity each at TPP (units 8 and Cherepetskaya 9) Construction of power generating TPP- facilities Yuzhnouralskaya 2 (unit 1) Construction of power generating TPP- facilities Yuzhnouralskaya 2 (unit 2) Construction of power generating TPP-2 facilities Yuzhnouralskaya (unit 3)* Construction of Dzhubginskaya TPP (units 1 and 2) (2x90MW) Total 3515 685 158 835 145 422 94 707 36 434 project. – ЭЛЕКТРОГЕНЕРАЦИЯ» «ИНТЕР РАО ПРОЕКТЫ ОАО ПРИОРИТЕТНЫЕ ИНВЕСТИЦИОННЫЕ 2012 2012
ANNUAL REPORT ANNUAL REPORT
OJSC INTER RAO – ELECTRIC POWER PLANTS’ PRIORITY INVESTMENT PROJECTS, million rubles CONSTRUCTION OF 450MW CPP Type of commissioned equipment – KU-OJSC 119 UNIT AT URENGOYSKAYA TPP EMallaince, Steam turbine: K-225-14.8-3Р. 35000 The power unit of the Urengoyskaya TPP has
30000 118 been launched. Project Contractor – CJSC Energoproekt.
1 251 2 ea. 225MW units
5 093 450MW CCGT, UTPP 25000 31 228 ChTPP (units No.8, 9) 225MW , KhTPP The capacity of the newly commissioned unit is Project documentation developed by (unit No.3) Power facility of 20000 YuTPP-2 (unit No. 1) 800MW CCGT, Perm. TPP Power facility of 460 MW. OJSC SibENTC – Tomsk branch, Institut 24 906
YuTPP-2 (unit No. 2) INVESTMENT ACTIVITIES
23 227 210MW, GOTPP Dzhubginskaya TPP Teploelectroproject 15000 5 961 (unit No. 4) 42 (units No. 1, 2) Comprehensive testing of the power unit’s 6 889 10000
975 financed outstanding 12 689 equipment was carried out from 02.11.2012 to 14 190 as of 31.12.12 investment CONSTRUCTION OF 800 MW CPP 05.11.2012. Average daily power capacity during 5000 11 465 9 915 UNIT AT PERMSKAYA TPP 1 796 the testing was 472 MW. 3 123 6 086 Installed capacity: 800 MW.
INVESTMENT ACTIVITIES INVESTMENT On November 26, 2012 a completion acceptance IMPLEMENTATION OF OJSC LCC INTER RAO - ELECTRIC POWER PLANTS’ statement was signed in respect to the 450 MW Pursuant to Decree of the Russian Government PRIORITY PROJECTS IN 2012 CPP power unit of the Urengoyskaya TPP (from No. 1637-p dated September 11, 2012, the No. KS-11). change to the construction sites of the generating mln rubles facilities covered by capacity supply contracts. Fact for 2011 2012 On November 30, 2012, the Administration of New The facility covered by such contract, the power New construction OF JSC Drawn Drawn (excluding VAT) Financed (including VAT) Urengoi issued a permit for the commissioning of unit 3.2 of the Nizhnevartovskaya TPP will be "LLC INTER RAO - Electric financed Financed Power Plants" % of capital construction of the Urengoyskaya TPP, relocated to the Permskaya TPP to increase (excluding (incl. VAT) Plan Fact fulfill- Plan Fact % of VAT) ment fulfillment specifically, the construction of a 450 MW CPP capacity of the Permskaya TPP’s power unit from Construction of power unit combined cycle gas turbine power unit. 410 MW to 800 MW). 450MW at Urengoyskaya TPP 9952.5 6002.1 7378.5 6223.0 84 8,55.2 7104.3 85 Installation of unit 3 with 225 MW capacity at Kharanorskaya TPP 1415.2 1508.7 1137.4 1134.7 100 1095.3 1052.9 96 Since 01.12.2012, the 450 MW CPP power unit The obligations fulfillment starting date under the (unit 3) of the Urengoyskaya TPP has been supplying capacity supply contract is 31.12.2015. Construction of 800MW unit at electricity to the market. Permskaya TPP 3.2 5.0 983.4 6.3 1 984.8 1378.8 140 Reconstruction of power unit at Based on the change in capacity of the power plant 4 of Gusinoozyorskaya TPP 2569.3 2374.7 2490.7 1579.0 63 2484.3 1508.8 61 A supplementary agreement was signed unit, a supplementary agreement was signed to Construction of two power units with the General Contractor, OJSC VO the contract with Siemens for supply of the main with 225MW capacity each at Cherepetskaya TPP (units 8 and 9892.5 7138.8 6,16.1 6694.2 98 6139.9 5780.7 94 TECHNOPROMEXPORT, postponing seasonal generating equipment, under which, an advance 9) work to 2013: pavement (asphalt), improvement payment was made at the end of 2012. Construction of power generating facilities Yuzhnouralskaya TPP- 1969.7 1547.1 13166.3 10136.4 77 11708.5 8948.9 76 and landscaping of the site, construction of a 2 (unit 1) sewage treatment system, and installation of During 2012, a preliminary feasibility study of Construction of power generating facilities Yuzhnouralskaya TPP- 0.0 2.1 579.2 322.3 56 3,28.3 3121.3 86 integrated technical security system. the project for construction of the Permskaya 2 (unit 2) TPP’s power unit No. 4 was carried out to refine Construction of power generating the cost of construction of the 800 MW CPP, facilities Yuzhnouralskaya TPP- 0.0 0.0 71.5 0.0 0 1254.9 0.0 0 INSTALLATION OF UNIT 3 WITH 225 2 (unit 3) MW CAPACITY AT KHARANORSKAYA which included construction of ATG-2 and a Construction of Dzhubginskaya 220 kW OSU tires sectioning, and identify key 614.8 2310.7 7273.9 6198.2 85 9192.4 7538.0 82 TPP (UNIT 3) TPP (units 1 and 2) (2x90MW) technical solutions ensuring supply of capacity Other new construction 11.8 4.2 47.1 36.5 78 71.2 53.8 75 A 225 MW power unit was commissioned in and including calculations of dynamic stability. TOTAL 26428.9 20893.4 39944.1 32330.7 81 44914.9 36487.4 81 October 2012 (statement of comprehensive Development of a capacity supply circuit for the testing of the power unit dated 12.10.2012, 800 MW CPP of the Permskaya TPP has been permit for commissioning of the unit issued by started. the Administration of the Olovyaninsk district, Transbaikal as of 12.10.2012, completion acceptance statement KS-11 as of 23.10.2012). 2012 2012
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RECONSTRUCTION OF POWER UNIT is in progress (grouting of the turbine has been contracts for fabrication and supply of all long 6. Installation of the equipment CPS complete. 121 AT PLANT 4 OF GUSINOOZERSKAYA completed; the control system is being installed); lead auxiliary equipment have been concluded. TPP 7. Installation of water purification unit equipment, 120 Upon the project’s completion the installed reconstruction of foundations for the coal-based CONSTRUCTION OF TWO POWER oil equipment room, fuel supply facilities, fire water capacity of power unit 4 will increase by 30 MW to steam boiler BKZ-640-140 PT1 was completed; UNITS WITH 225MW CAPACITY pump station. the original level of 210 MW. the boiler is located on the site; installation of the EACH AT CHEREPETSKAYA TPP boiler has been completed; insulation work; 8. Installation of KRUE-220 KW equipment
The main fuel used at the reconstructed power (UNITS 8 AND 9) completed. INVESTMENT ACTIVITIES unit will be brown coal from the Pereyaslavsky based on the results of the repair and The main and reserve fuel for the new units will Coal Pit; the reserve fuel will be brown coal reconstruction work, a successful barring test be Kuznetsk DG, D and G coal. The fuel mode 9. Construction of cooling tower for unit No.8 from the Okino-Klyuchevsky Coal Pit. The fuel was performed on the manufacturer’s test rig, was approved by the Ministry of Economic completed. mode was approved by the Russian Ministry of and turbine K-210-130-3 was relabeled. The Development. Economic Development. refurbished turbine was delivered to the site of CONSTRUCTION OF INVESTMENT ACTIVITIES INVESTMENT the GOTPP; Commissioning date under the capacity supply YUZHNOURALSKAYA TPP-2 POWER Type of commissioned equipment — steam contract taking into account the grace period GENERATING FACILITIES: turbine: K-210-130 (LMP). upgraded turbine generator rotor delivered to for capacity supply obligations is 31.10.2013, for the construction site; power unit No. 9 – 30.06.2014. UNITS 1 AND 2 Boiler: BKZ-640-140 (Sibenergomash). This investment project envisages construction of KRU-6 KW and 0.4KW switchgear energized; Type of commissioned equipment — boiler: two new power units (400 MW each) at the site Electric generator: existing stator ASTG-200-2UZ, readiness of the transformer yard and power Еp-630-13.8 565KT (OJSC EMallaince). located in the Urals Federal District, Chelyabinsk upgraded rotor TGV-235-2МUZ. capacity supply circuit is ensured. (isolators, circuit region, in the territory of MO Uvelsky Municipal breaker and flexible links have been installed, Steam turbine: K-225-12.8-4P (OJSC district. Contractor — CJSC Energiya-Service. module transformer and auxiliary transformer Siloviye Mashini). were replaced). Boiler installation was completed; The main fuel is natural gas; the reserve fuel Project documentation developed by: steam turbine installation was started. Contractor — OJSC VO TECHNOPROMEXPORT. is diesel fuel. The fuel mode for the two power General Designer – Tomsk branch, Institut units was approved by the Russian Ministry of Teploelectroproject. The design has been installation of module transformer TDTs-250000 Project documentation developed by — Economic Development. developed based on the design specification of and auxiliary transformer completed; General Designer of the project, OJSC the Gusinoozyorskaya TPP and approved by the Zarubezhenergoproekt. Commissioning date under the capacity supply decree of the USSR Council of Ministers on April generator was placed into position on the contract taking into account the grace period for 22, 1968, No.831 p. foundation; preparation for generator stator As of the end of 2012, the following work was capacity supply obligations: repairs has been started; performed under the project: The commissioning date under the capacity supply The first power unit (400 MW CPP) – 31.12.2013, contract takes into account the grace period for all foundations were constructed for the mill, 1. Installation of the boiler for unit No. 8 is in the the second power unit (400 MW) – 30.09.2014. capacity supply obligations of 01.11.2012. The blowers, feed pumps, condensate pumps, final phase. unit has not been commissioned. Approximate smoke exhausters, and drying agent fans; 5 mills, Pursuant to the Decree of the Russian power unit commissioning date: June 2013. boiler unit heaters, and flue gas cleaning system 2. Installation of the turbine of unit No. 8 Government No. 1637-p, construction of power emulsifiers fully installed into position. installation completed. Lining work is under way. unit No. 3 at the Yuzhnouralskaya TPP-2 has been As of the end of 2012, the following work was of HP and LP pipelines started; cancelled, and the construction was relocated to performed on the construction site: 3. Installation of R-9 steel pipelines is under way. the Verkhnetagilskaya TPP site. repairs of the RUSN 0.4 KW switchgear, construction, installation and start up work; KRU 6.0 KW and RTZO panel rooms have 4. MV transformer and starting and reserve Type of commissioned equipment: been performed; excitation system, KRU-6 KW, transformer installed. Unit 1 — gas turbine: SGT5-4000F Siemens AG, foundation reconstruction for the steam turbine instrument panels, unit control panel rooms – to 281.2MW; waste heat boiler: P-140; plant was completed; the turbine foundation is elevations of 15.0, 22 and 9.6; 5. 5. Installation of electrical equipment of 6 placed under load, installation of the steam turbine KW and 0.4 KW switchgear performed. Steam turbine: SST5-3000 Siemens AG, 127.8MW. 2012 2012
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Unit 2 — waste heat boiler: three pressures; gas supply pump station, sewage treatment plants, CONSTRUCTION OF DZHUBGINS- TECHNICAL RE- 123 turbine: SGT-4000F (Siemens). process pipelines rack, oil storage and reinforced KAYA TPP (UNITS 1 AND 2) (2X90 MW) EQUIPMENT AND concrete frame of the administrative building MODERNIZATION OF
122 Steam turbine: SST5-3000 (Siemens); Generator: was performed; hillside ditch, guide bank, water This investment project envisages construction of SGen5-2000H. supply slot, circulating water conduits, gas two new power units with 90 MW capacity each EXISTING INDUSTRIAL supply pipeline were arranged; concreting for on the construction site next to Defanovka village, Contractor — CJSC Atomstroyexport. the underground part of nitrogen and oxygen Tuapse district, Krasnodar region. The main fuel FACILITIES
storage, diesel fuel storage, tracks and outdoor will be natural gas. The Company’s investment program for 2012 INVESTMENT ACTIVITIES Project documentation developed by transformer unit, flow meter compartment, storm (along with the OJSC OGK-1 and OJSC OGK-3 OJSC Engineering Center UES – Institut and oily water treatment plants (facility No.1), Deadline as per capacity supply contract: branches) included making use of the Company’s Teploelectroproject. transformer and turbine oil drainage tanks 31.10.2013. Technical Re-equipment and Reconstruction was performed; also fencing, inner road and Program investment of 7 768.8 mln rubles, VAT The state of readiness of power unit No. 1 as of underground utilities construction are in progress. Contractor — LLC KVARTS-Noviye Tekhnologii. excluded (of which 3 640 mln rubles was for
INVESTMENT ACTIVITIES INVESTMENT the end of 2012. OJSC OGK-1 and 1 933.3 mln rubles for OJSC 8. 220 kW OSG equipment installed. Project documentation developed by: OJSC OGK-3. The actual amount of capital investment 1. Of the 62 facilities in the title list, 60 are under Institut Teploelectroproject, June 2011. used in 2012 was 6 089 mln rubles, or 78% of the construction. The state of readiness of power unit No. 2 as of plan. the end of 2012. Type of commissioned equipment — gas 2. In the main building, generator, gas turbine, turbine: LMS 100 PB, General Electric (2 x 90 The Company’s investment program for 2012 steam turbine and waste heat boiler have been 1. Construction permit No.74/21-22received by MW). (along with the OJSC OGK-1 and OJSC OGK- installed. the Administration of Uvelsky Municipal district. 3 branches) envisaged drawing the Company’s The state of readiness of the project as of the end Technical Re-equipment and Reconstruction 3. 6 KW switchgear has been energized; 2. Construction has been officially started and of 2012. Program investment of 8 656,1 mln rubles, VAT storage battery and DC panel have been put into a contract signed with the General Contractor included (along with OJSC OGK-1 – 3 881,9 mln operation. CJSC Atomstroyexport for construction of Unit 2 Design work – 96%. rubles and OJSC OGK-3 – 2 281,2 mln rubles). of the Power Generating Facility Yuzhnouralskaya Actual financing in 2012 was 5 972,3 mln rubles, 4. Water intake bucket in front of the building of TPP-2 (design and survey, supply of equipment, Project construction and installation – 57%. or 69% of the plan. the onshore pumping station has been flooded. construction). Supply of equipment and materials – 86%. Additionally, as part of implementation of the 5. Gas pipeline and gas processing modular 3. Excavation of the pit for the main building Company’s TRR program in 2012, OJSC INTER units installed. completed. Installation and setup of equipment started. RAO UES property buy-out was carried out at the Construction of process premises performed to Ivanovskiye CPP, the Kaliningradskaya TPP-2, 6. Work is under way to prepare the launch 4. Construction and installation of reinforced its final phase: the Severo-Zapadnaya TPP, and the Sochinskaya of starting the boiler house and integrated concrete foundations for the main building TPP branches. production unit. completed to 92%. construction – administrative building, boiler house, water purification unit, fire water pump The actual value of property bought-out in 2012 7. Installation of wall and roof railings was 5. Concreting of the turbine unit foundation station; equaled to 26 847,8 mln rubles (VAT excluded), performed: integrated production unit, starting lower plate. Installation of reinforcement cage 2 475,1 mln rubles (VAT included) was financed. the boiler house, auxiliary facilities module, and concrete bedding of the foundation for the installation of equipment – RUSN-0.4, KRU- oil cooling unit central repair shops, covered waste heat boiler is under way. 6 switchgear, KRUE-110, KRUE-220, laying of The activities performed meant that the old parking, fire station, oil equipment room, diesel cable lines; equipment could be replaced with more state- fuel pump station, onshore pumping station, 6. Erection of framework steel structure started. of-the art and efficient equipment, increase the switching compartment with auxiliary switchgear setup and testing – AT transformers, module reliability of its operation, and improve the quality RUSN-0.4 KW, siphon well, cargo and central transformers, auxiliary transformers, standby of the power produced. They also ensured the gatehouses, water bearing diesel fuel tank, fire auxiliary transformers. Company’s competitive advantage. foam pump station, technical and potable water
2012 2012
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IMPLEMENTATION OF JSC LLC INTER RAO - ELECTRIC POWER PLANTS TRR THE MAIN ACTIVITIES PERFORMED IN 2012 AS PART OF THE TRR PROGRAM 125 PROGRAM IN 2012 (excl. JSC INTER RAO UES PROPERTY BUY-OUT) VERKHNETAGILSKAYA TPP mln rubles Cost of activity, mln
124 Fact for 2011 2012 No. Activity rubles (excluding TRM Program of JSC VAT) Drawn Financed Drawn financed (excluding VAT) Financed (including VAT) «LLC INTER RAO - Electric financed 1 Modernization of turbine unit K-205-130 of power unit No.10 721.8 Power Plants» (including (excluding Plan Fact % of Plan Fact % of VAT) VAT) fulfillment fulfillment Design, manufacturing, delivery, installation, setup and Rostekhnadzor approval of a bucket 2 unloaded 193.4 INVESTMENT ACTIVITIES Verkhnetagilskaya TPP 472.3 729.4 955.9 706.7 74 926.8 623.8 67 3 Technical re-equipment of artificial operating and emergency lighting 87.7 Iriklinskaya TPP 228.5 299.7 542.7 465.6 86 631.7 492.6 78 4 Modernization of pipe air heaters of boilers of lines 1-3 60.1 Kashirskaya TPP 369.5 563.4 551.4 507.1 92 644.8 539.3 84 5 Technical re-equipment of gallery of belt conveyor No.4 55.4 Permskaya TPP 469.7 664.6 675.0 533.1 79 774.2 632.6 82 6 Modernization of integrated technical security system (Stage 2) 52.8 Urengoyskaya TPP 185.2 243.7 876.5 576.1 66 860.9 515.9 60 7 Modernization of the boiler unit at plant No.14. of power unit at plant No. 7 with replacement of 40.0 Gusinoozyorskaya TPP 310.5 354.6 462.7 674.0 146 662.5 548.0 83 ceiling shield INVESTMENT ACTIVITIES INVESTMENT 8 Modernization of integrated technical security system (Stage 1) 33.2 Kostromskaya TPP 293.9 330.0 470.1 343.1 73 506.7 378.1 75 Kharanorskaya TPP 131.0 184.8 126.4 192.8 153 120.3 92.5 77 Pechorskaya TPP 108.8 131.3 116.7 91.1 78 136.4 85.7 63 IRIKLINSKAYA TPP
Cherepetskaya TPP named after 336.5 411.4 514.1 476.2 93 570.4 423.8 74 Cost of activity, L.G. Zhimerinа No. Activity mln rubles (excluding VAT) Yuzhnouralskaya TPP 205.4 227.5 241.1 316.3 131 282.2 227.0 80 1 Construction of line III of the bypass channel 185.5 Dzhubginskaya TPP 0.0 0.0 0.0 0.0 0.0 0.0 2 Construction of line II of the bypass channel 166.1 Ivanovskiye CPP 0.0 0.0 375.3 283.0 75 427.3 315.5 74 3 Implementation of integrated technical security system 91.1 Kaliningradskaya TPP-2 0.0 0.0 299.4 142.7 48 352.8 176.5 50 4 Construction of sewage treatment plant at water intake of Iriklinskaya TPP 53.5 Severo-Zapadnaya TPP 0.0 0.0 1,023.6 717.0 70 1,166.2 818.6 70 5 Development of automated lighting system using energy-saving light sources 46.8 Sochinskaya TPP 0.0 0.0 480.3 61.7 13 526.6 98.6 19 6 Development of design for power unit No.2 modernization 38.2 Executive Office 29.5 104.3 57.7 2.5 4 66.0 3.9 6 7 Installation of water economizer at unit No.2 with intensified heating surfaces 33.2 Total for the TRM Program 3140.9 4244.7 7768.8 6089.0 78 8656.1 5972.3 69 8 Installation of ball cleaning for the power unit No.8 turbine condenser 26.6
KASHIRSKAYA TPP SHARE OF THE BRANCHES IN TOTAL TRR PROGRAM, % Cost of activity, No. Activity mln rubles (excluding VAT) 5% 0% 12% 1 Reconstruction of ash dump 243.5 8% 2 Activities aimed at creating a selective non-catalytic reduction of NOx unit (SNCR) 135.9 3% Verkhnetagilskaya TPP Permskaya TPP 11% Gusinoozyorskaya TPP Pechorskaya TPP 3 Construction of dry ash disposal system (DAD) for power units No.1 and 2 127.1 Dzhubginskaya TPP Severo-Zapadnaya TPP 9% 4 Modernization of the boiler unit at power unit No.1 with replacement of heating surfaces 99.4 Ivanovskiye CPP Sochinskaya TPP 0% Iriklinskaya TPP Urengoyskaya TPP 5 Installation of circulation pumps at power unit No.1 with reconstruction of the onshore pumping 91.7 Kaliningradskaya TPP-2 Kharanorskaya TPP station 1% 5% Kashirskaya TPP Cherepetskaya TPP 6 Manufacturing and delivery of circulating pumps for power unit No.2 77.6 Kostromskaya TPP Yuzhnouralskaya TPP 7 Implementation of integrated technical security system (Stage 1) 57.9 12% 8% The Executive Office 8 Replacement of the PTN (turkey point) at power unit No. 6 (design, installation) 51.8 2% 9 Construction of a impulse pneumatic ash transport system at power unit No.3 44.4 1% 8% 9% 10 Development of automated lighting system using energy-saving light sources 43.5 6% 11 Delivery of PVD-6 for power unit No.4, type PV-900-380-18 40.0 2012 2012
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PERMSKAYA TPP KHARANORSKAYA TPP 127 Cost of activity, Cost of activity, No. Activity mln rubles No. Activity mln rubles (excluding VAT) (excluding VAT) 126 1 Reconstruction of hot reheat pipelines at power unit No. 1 (investment program 2011, para. 1.1.2) 381.6 1 Reconstruction of PVD Nos. 6 and 7 on power unit No.2 52.1 Modernization of turbine unit at plant No.1 by replacing the internal carcass of high pressure cylinder, 2 Fire protection based on automated fire monitors 21.2 2 installation of cellular shroud seals of high pressure cylinder, implementation of forced steam cooling 177.4 loop and modernization of turbine unit at plant No.2 in the replacement of medium pressure rotor 3 Reconstruction of the roof of BDO BNS OVK 18.5
3 Reconstruction of the STN-480-5500-2 UKhL4 excitation system at power unit No. 1 49.2 4 Reconstruction of IBK escape routes 14.0 INVESTMENT ACTIVITIES 4 Implementation of integrated technical security system at Permskaya TPP (OSU 220/500 site) 48.0 Replacement of VMPE-10 oil switches with vacuum VVE-10 switches in cubicles of KRU-6 kW s at 5 power unit No.1 10.7 5 Modernization of 220 kW circuit breakers 22.5 6 Reconstruction of the fuel supply path galleries 10.7 7 Reconstruction of the roof turbine house (work continued) 10.6 URENGOYSKAYA TPP KOSTROMSKAYA TPP Cost of activity, INVESTMENT ACTIVITIES INVESTMENT No. Activity mln rubles (excluding VAT) Cost of activity, No. Activity mln rubles 1 Construction of residential premises for staff 800.0 (excluding VAT) 2 Modernization of artificial operating and emergency lighting 35.5 Reconstruction of 220 kW OSG and its microprocessor relay protection 1 (replacement of high-voltage circuit breakers, BB type control and protection circuits ) 220.6 3 Putting into operation of "Accommodation camp - industrial site" road 31.7 2 Modernization of the lighting system 113.5 4 Reconstruction of the facade of the reserve heat generation plant building 21.3 Reconstruction of the automatic fire alarm and fire fighting foam system of the fuel oil equipment 3 (continuation of reconstruction of the PPA and PC of the fuel oil equipment) 73.1 GUSINOOZYORSKAYA TPP 4 Reconstruction of glazing of the main building at Unit No.9 45.5 5 Reconstruction of 500 kW OSG and its microprocessor relay protection in cubicle No.3 (Pumped 42.0 Cost of activity, Storage PlantPZA, PA and VL-500 kW links between Kostromskaya TPP and Zagorskaya HEPP) No. Activity mln rubles 6 Modernization of the high pressure heater (PVD-6) of power unit No.8 39.4 (excluding VAT) 7 Modernization of the supply turbine pump at power unit No.8 33.6 1 Reconstruction of power unit generator at plant No. 3 472.9 8 Reconstruction of railway transformer tracks at Units 1-8 and 9 28.7 2 Modernization of the boiler unit at plant No.1 due to conversion to combustion of coal from Okino- 201.5 Klyuchevsky Coal Pit 9 Reconstruction of the main boiler turbine shop building roof with catwalk 27.5 3 Ash dump No.1, sections 1 and 2. Extension of dams 200.2 4 Construction of dry fly ash collection and disposal unit at power units of plants Nos.5 and 6 (line 1) 193.9 PECHORSKAYA TPP 5 Replacement electric motors 165.3 Reconstruction of cubicles of 110 and 220 kW OSG and replacement of circuit breakers and oil Cost of activity, 6 switches with sulfur hexafluoride switches 136.6 No. Activity mln rubles (excluding VAT) Reconstruction of railway crossovers Nos. 14, 16, 35, 37, 40, and 42 with crossover roads and 7 signaling pathways and signaling and interlocking system 123.2 1 Reconstruction of 220 kW OSG (oil switch replacement) 196.0 Modernization of the boiler unit at plant No.2 due to conversion to combustion of coal from Okino- 2 Installation of main heating systems from Pechorskaya TPP to TK-43 (pipeline string II) 143.4 8 Klyuchevsky Coal Pit 98.2 3 Installation of automatic protection of the power system 35.8 9 Modernization of the boiler unit at plant No.5 due to conversion to combustion of coal from Okino- 48.1 Klyuchevsky Coal Pit 4 Reconstruction of fire alarm system at Pechorskaya TPP 31.3 10 Reconstruction of the plant No.5 boiler unit water economizer from plane-tube into membrane type 36.5 5 Installation of РВ-2 with microprocessor control system 20.2 6 Reconstruction of canteen building premises 19.7 2012 2012
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CHEREPETSKAYA TPP NAMED AFTER L.G. ZHIMERIN KALININGRADSKAYA TPP-2 129 Cost of activity, Cost of activity, No. Activity mln rubles No. Activity mln rubles (excluding VAT) (excluding VAT) 128 Reconstruction of drier/mill section at boiler unit of plant No.11 with design and survey, design, 1 Modernization of the lighting system of Kaliningradskaya TPP-2 83.5 1 construction and installation work (on turn-key basis) 229.0 2 Modernization of integrated technical security system. Stage 1 83.3 2 Construction of integrated facilities for collection and treatment of surface and industrial sewage from 162.1 the industrial site 3 Modernization of integrated technical security system. Stage 2 10.1 Reconstruction of railway track structure (with replacement of two sets of Р-50 crossovers to Р-65 3 crossovers and replacement of Р-43 rails to heavier Р-65 rails ) 129.2 Reconstruction of chemically treated water pipeline at the rack between the main building and water INVESTMENT ACTIVITIES 4 purification unit and at water purification unit 11.0 Construction of system (integrated facilities) for circulating water supply system for hydraulic ash and 4 slag removal at 300 MW power units 127.9 Reconstruction of No.11 (modernization of startup process circuit of the power unit to enable its SEVERO-ZAPADNAYA TPP 5 starting from any thermomechanical state) 66.7 6 Increasing capacity of ash dump No.4 (construction and installation) 60.7 Cost of activity, No. Activity mln rubles 7 Reconstruction of boiler unit No.9 (HP platen superheater replacement) 52.9 (excluding VAT) INVESTMENT ACTIVITIES INVESTMENT 8 Implementation of mechanized coal quality control system 28.7 1 Modernization of gas turbines GT-21 and 22 after 33 thousand equiv. hrs of operation 312.9 9 Reconstruction of warehouse facilities (travelling gantry crane KKD-32) 21.4 2 Purchasing of water intakes with a pumping station at: St. Petersburg, 44 Primorskiy pr., bldg. 3/А 109.4 3 Modernization of makeup water pump at unit No.2 103.3 YUZHNOURALSKAYA TPP 4 Modernization of the lighting system of Severo-Zapadnaya TPP 85.6 Modernization of 11 kW OSU with replacement of ВМТ-110 oil switches with sulfur hexafluoride Cost of activity, 5 switches (design and survey - 2011, supply - 2012, installation, setup - 2013) 72.8 No. Activity mln rubles (excluding VAT) 6 Modernization of integrated technical security system (Stage 1) 63.6 1 Reconstruction of 220 kW OSG equipment 119.2 Reconstruction of GTU-11, 12, GTU-21, 22 generators excitation system with installation of a system 7 of PSS2B stabilizers and ST6B voltage regulators (supply, installation, startup - 2012, 2013) 62.7 2 Replacement of roofing of Yuzhnouralskaya TPP main building 111.5 8 Modernization of reinforced concrete shell of stack of cooling tower No.1 54.1 3 Implementation of plant's fail-safety circuits (thermomechanical part) 100.0 9 Conversion of auxiliary TPP's buildings to dual circuit heating system 50.0 4 Reconstruction of 110 kW OSG equipment 87.0 10 Modernization of GTU blading 35.1 5 Modernization of the lighting system 54.0 6 Reconstruction of auxiliary equipment 42.8 SOCHINSKAYA TPP 7 Reconstruction of concrete overflow dam 32.1 Cost of activity, 8 Implementation of hydrocleaning systems for rooms of fuel supply sections No. 1 and 2 31.3 No. Activity mln rubles (excluding VAT) 9 Fire protection of electric cables in cable ducts 26.6 1 Personnel motivation activities 203.1 IVANOVSKIYE CPP 2 Modernization of the lighting system 63.4 3 Modernization of integrated technical security system (Stage 1) 58.5 Cost of activity, 4 Implementation of training simulation software suite in CPP 31.7 No. Activity mln rubles (excluding VAT) Reconstruction of automated safeguarding system at the power generation area of Sochi within the 5 Kuban power system taking into account commissioning of power industry projects and development 31.4 1 Cleaning and deepening of the cooling pond 229.7 of infrastructure for 2014 Olympic Games at Sochinskaya TPP 2 Modernization of the lighting system 104.7 6 Modernization of integrated technical security system (Stage 2) 24.4 3 Modernization of the anti-intrusion system 80.2 Reconstruction of automated water-chemistry conditions monitoring system for units No. 1 and 2 (in 7 design and survey in 2012) 24.1 4 Reconstruction of fuel handling facility 39.2 8 Modernization of VL-110 kW Sochinskaya TPP – substation Sochi (II circuit) and Sochinskaya TPP – 23.8 Development of design and detailed design documentation, supply, installation and startup of common substation Khosta (p. 2.1 IP 2010) 5 plant automated safeguarding device for units No. 1 and 2 of CPP-325 22.9 6 Modernization of oil handling facility warehouse 14.5 2012 2012
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THE RESULTS OF INVESTMENT ACTIVITY IN 2012 2012 131 Investment Program Commissioned ОVOLUMES OF INVESTMENT AND NEW FIXED ASSETS IN 2012 Drawn (excluding VAT) Financed (including VAT) (excluding VAT) Construction of power generating facilities 130 (EXCL. JSC LLC INTER RAO UES PROPERTY BUY-OUT) Yuzhnouralskaya TPP-2 (unit 1) 10136.4 8948.9 47.7 mln rubles Construction of power generating facilities 322.3 3121.3 0.0 2012 Yuzhnouralskaya TPP-2 (unit 2) Investment Program Construction of power generating facilities 0.0 0.0 0.0 Drawn (excluding VAT) Financed (including VAT) Commissioned Yuzhnouralskaya TPP-2 (unit 3)
(excluding VAT) INVESTMENT ACTIVITIES Construction of Dzhubginskaya TPP (units 1 and 2) TRM Program 6089.0 5972.3 4275.4 (2x90MW) 6,198.2 7538.0 39.8
Verkhnetagilskaya TPP 706.7 623.8 279.1 New construction: other 36.6 53.7 43.7
Iriklinskaya TPP 465.6 492.6 654.2 Total for the TRM Program 38419.6 42459.8 34044.6
Kashirskaya TPP 507.1 539.3 538.6
INVESTMENT ACTIVITIES INVESTMENT Permskaya TPP 533.1 632.6 525.3 The 2012 investment program was implemented using the Company’s own funds. The financing of the program, which totaled 42 459.8 mln rubles (excluding the financing of the OJSC LLC INTER RAO UES Urengoyskaya TPP 576.1 515.9 444.1 property buy-out), was raised from the following sources: Gusinoozyorskaya TPP 674.0 548.0 356.5
Kostromskaya TPP 343.1 378.1 311.7 1. Depreciation of the current debt of 4 311.4 mln rubles, or 10.2% of the total amount of the Company’s 2011 financing program. The depreciation was used to finance technical re-equipment and Kharanorskaya TPP 192.8 92.5 96.9 reconstruction projects as well as other new constructions being carried out by the Company. Pechorskaya TPP 91.1 85.7 61.1
Cherepetskaya TPP named after L.G. Zhimerin 476.2 423.8 116.5 2. Historic depreciation of 409 mln rubles, equivalent to 1% of the total financing amount. These funds were used to finance technical re-equipment and reconstruction projects. Yuzhnouralskaya TPP 316.3 227.0 122.2
Dzhubginskaya TPP 0.0 0.0 0.0 3. Historic profit of 429.4 mln rubles, or 1%. These funds were used to finance TRM projects, including Ivanovskiye CPP 283.0 315.5 156.6 the construction of residential premises for the Urengoyskaya TPP staff (378.6 mln Rubles), the
Kaliningradskaya TPP-2 142.7 176.5 80.8 construction of a sewage treatment plant at the water intake of the Iriklinskaya TPP (17.3 mln rubles) and the reconstruction of an ash dump at the Kashirskaya TPP (29.6 mln rubles). Severo-Zapadnaya TPP 717.0 818.6 470.6 Sochinskaya TPP 61.7 98.6 58.5 4. Funds raised from additional shares issued amount to 35 525.7 mln rubles, or 83.7% of the total Executive Office 2.5 3.9 2.5 financing amount. These funds were used to finance implementation of projects at the Cherepetskaya TPP, the Kharanorskaya TPP, Gusinoozyorskaya TPP, the Yuzhnouralskaya TPP, the Dzhubginskaya New construction 32330.6 36487.5 29769.3 TPP, the Urengoyskaya TPP and the Permskaya TPP. Construction of power unit 450 MW CPP unit at Urengoyskaya TPP 6223.0 7104.3 19998.3 5. VAT repayment of 1 098.3 mln rubles, or 2.6%. These funds were used to finance TRR and new Installation of unit 3 with 225 MW capacity at 1134.7 1052.9 9638.8 Kharanorskaya TPP (unit 3) construction projects. Construction of 800 MW CPP unit at Permskaya TPP 6.3 1378.8 0.0 Other Company’s own funds (income from placement of funds raised from emission) – 685.9 mln Reconstruction of power unit at plant 4 of 1579.0 1508.8 1.0 6. Gusinoozyorskaya TPP rubles, or 1.6%. These funds were used to finance construction of the new 800MW power unit at the Construction of two power units with 225 MW capacity each at Cherepetskaya TPP (units 8 and 9) 6694.2 5780.7 0.0 Permskaya TPP. Moscow time MSK (UTC+4)
ANALYSIS AND CONTROL 09:00 Ensuring transparency of centralized purchasing activities is a way to monitor the effectiveness of spending of the Company’s funds and promotes fair competition among all potential service providers PECHORSKAYA TPP 2012 2012
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BASIC PRINCIPLES fair and reasonable selection of the best offers APPLIED PURCHASING METHODS 135 PURCHASING through a comprehensive analysis of pros and AND PARAMETERS FOR THEIR OF THE COMPANY’S SELECTION. USE OF ELECTRONIC PURCHASING POLICY cons (primarily, in terms of product price and 134 ACTIVITIES quality); COMMERCE The main purchasing method used by OJSC In order to ensure targeted and efficient spending monitoring contract fulfillment and use of INTER RAO - Electric Power Plants in 2012 was and make economically substantiated expense products purchased. open single-stage tenders. Open single-stage
decisions, OJSC INTER RAO - Electric Power tender procedures are based on Articles 447-449 PURCHASING ACTIVITIES Plants has been improving its procedure for The Central Purchasing Committee (hereinafter of the Civil Code of the Russian Federation. They purchasing products, work, and services from CPC) is responsible for approving, monitoring imply involving as many participants as possible tenders. and coordinating purchases at OJSC INTER RAO through mass media. - Electric Power Plants. The Company’s Board The purchasing regulations are based on a of Directors approves quarterly purchasing The remaining procedures were applied in
PURCHASING ACTIVITIES PURCHASING reasonable combination of special techniques programs and reports. accordance with the Purchasing Regulation. and procedures aimed at achieving maximum effectiveness from market laws during each The Board of Directors appoints the head of the When there is no competition environment purchasing transaction. CPC and its members. The head of the CPC is available for certain services or products (in low- personally responsible for organizing regulated competition and monopolized economy sectors), In accordance with the Regulation on Regulated purchase procedures and for training the staff purchases were carried out using a single supplier Purchases of Products, Work and Services responsible for management, control, and with enhanced internal control. (hereinafter the “Purchasing Regulation”) fulfillment of purchasing procedures. approved by OJSC INTER RAO - Electric Power Purchases of any products, work and services Plants’ Board of Directors (Minutes No. 14 Permanent purchasing commissions (hereinafter for the Company, not exceeding 500,000 rubles dated February 07, 2012), these techniques and PPC) review, evaluate and assign preference excluding VAT, pursuant to the Purchasing procedures include the following: ratings to competitor bids and choose tender Regulation, are considered simplified and were winners. In 2012, execution and record-keeping of performed in 2012 on the basis of market micro- a thorough plan of products and services regulated purchasing procedures was performed research. needed to fulfill the Company’s industrial plans by LLC INTER RAO – Procurement Management (repairs, TRM, НС, operation etc.); Center.
market analysis and marketing surveys;
activity aimed at achieving a reasonable level of competition among prospective suppliers, where possible; where this is not possible, applying enhanced internal control; 2012 2012
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PRODUCTS, WORK, AND SERVICES PURCHASING PROCEDURES ANNUAL PURCHASING REPORTS 137 Procedure Maximum value REPORT ON PURCHASING ACTIVITY IN 2012 (BY ACPP SECTIONS) Open tender no restrictions 136 Number of Initial cost based on Final cost of winner Open request for offers 3 (5*) million rubles Activity purchases, previous purchases, offers, thousand items thousand rubles rubles Open request for prices 3 (5*) million rubles 1. Repairs 2701 3 857369 3 731 699
Open competitive negotiations not specified 2. Operation 2971 2 659827 2 549 303 PURCHASING ACTIVITIES Private competitive negotiations not specified 3. Administrative expenses 615 436626 380 171
Private request for offers 1.5 million rubles 4. Security 67 638086 595 869 5. IT purchases 362 173236 161 103 Private request for prices 1.5 million rubles 6. Consultancy and information 77 360198 309 363 Single supplier not specified 7. Audit and assessment 11 11524 11 181
PURCHASING ACTIVITIES PURCHASING Simplified purchase 0.5 million rubles 8. Insurance 80 990060 921 248 * Up to 5 million rubles for contracted work and purchase of construction materials. 9. Legal services 21 9841 6 324 10. Corporate management 29 2475637 2 128 368 IMPLEMENTATION 11. Personnel expenses 540 138149 124 274 Since the Company aims to use the best 12. Advertising and marketing 115 37059 35 075 purchasing practices, it chose the b2b-energo. OF THE ANNUAL 13. Other purchases for sales activities 70 37798 38 829 ru electronic trading facility for its purchasing COMPREHENSIVE 14. Other purchases for operational activities 302 311263 284 581 activities in 2012, and specifically to announce PURCHASING PLAN 16. Technical re-equipment and modernization 615 3489858 3 256 176 and perform purchases and marketing research. 17. New constructions and extensions 111 1078388 997 212 (ACPP) IN 2012 18. Other major works and deliveries 141 238633 233 028 Within the b2b-energo.ru trading facility, the Total for ACPP 8828 16943552 15763408 Company performed 128 competitive purchases The 2012 OJSC INTER RAO - Electric Power Total regulated purchases 2870 16163469 15033944 in 2012, which make up 6.34% of the total amount Plants Annual Comprehensive Purchasing 5958 780083 of its competitive purchases. Program (hereinafter ACPP) was developed in Total simplified purchases 729464 accordance with agreed functional budgets and All notices, announcements and results of the Regulation on Purchasing Products, Works, competitive procedures performed outside the and Services and approved by the Company’s electronic trading facility are published on the Board of Directors. REGULATED PURCHASING PROCEDURES **, REGULATED PURCHASING PROCEDURES, “Purchasing” section of the Company’s corporate items mln rubles website. Contracts related to the fulfillment of the Company’s investment program and aimed at building new generating capacities are also concluded on a competitive basis. 2900 18000
16000 2800 14000
2700 12000 10000 2600 8000
2500 6000 4000 2400 2000
0 2300
2011 2012 2011 2012 2012 2012
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TOTAL PURCHASES BY OJSC INTER RAO - ELECTRIC POWER PLANTS ABSOLUTE ECONOMIC EFFICIENCY OF RELATIVE ECONOMIC EFFICIENCY OF (INCLUDING BRANCHES) IN 2012 URCHASES PERFORMED, MILLION RUBLES PURCHASES PERFORMED, % 139
Purchase methods Quantity Amounts, thousand rubles, 138 (excl. VAT) 1200 7.00 SS Single supplier 596 6 425 299 1000 6.00 SP Simplified purchase 5 958 780 084 5.00 OSST Open single stage tender 941 5 049 929 800 PURCHASING ACTIVITIES PT Private tender 2 101 238 4.00 600 ORO Open request for offers 836 2 198 461 3.00 400 PRO Private request for offers 28 210 114 2.00 ORP Open request for prices 182 243 610 200 1.00 PRP Private request for prices 11 20 469 0 0
PURCHASING ACTIVITIES PURCHASING OCN Open competitive negotiations 15 636 772 PCN Private competitive negotiations 4 119 685 2011 2012 2011 2012 SS-P Single supplier based on competitive procedure 255 1 157 891 Total for purchasing method 8 828 16,943,552
PURCHASING EFFICIENCY SHARE OF DIFFERENT PURCHASING MAIN ACPP INDICES FOR 20131 2385 regulated and 4045 simplified purchases PROCEDURES IN TERMS OF PURCHASE The economic results from the purchasing of The 2013 OJSC INTER RAO - Electric Power for a total amount of 32 779 241 thousand rubles materials, work, and services organized and AMOUNT Plants Annual Comprehensive Purchasing are planned, 10 509 031 thousand rubles of performed on a competitive basis amounted to Program (ACPP) was developed in accordance which (32.06%) account for open competitive 1 180 144 thousand rubles in total in comparison with Decree No. UEG/241/165/ EG/140/230 dated procedures. 7% 5% with the initial cost plan. 3% July 3, 2012 on ACPP development.
PURCHASING SYSTEM CENTRALIZATION In 2012 the development of an INTER RAO UES Group centralized procurement system continued. The specialized purchasing organization LLC INTER RAO – Procurement Management Center which performs centralized purchases for the 38% 47% Group’s companies makes up the core of this system. Simplified purchase Single supplier Open procedures Private procedures As companies of OJSC INTER RAO UES Group SS-P decided to move from a decentralized purchasing system to a centralized purchasing system, a general plan of action is now being implemented to change the existing documents regulating the purchasing activity in order to create a unified local regulatory framework for the Group’s purchasing activity.
1 Fuel purchase excluded. Ekaterinburg time MSK+2 (UTC+6)
GROWTH AND STABILITY 11:0 0 The Company’s strategic objective is to ensure growth of the business’s value and improvement of financial results VERKHNETAGILSKAYA TPP PERMSKAYA TPP 2012 2012
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STRUCTURE OF THE As of December 31, 2012, the sole shareholder is: 143 CHARTER COMPANY’S CHARTER CAPITAL % of the Charter Capital % of voting shares 142 CAPITAL, JSC "INTER RAO UES" 100 100 The Charter Capital of OJSC INTER RAO - Electric CHARTER CAPITAL, SECURITIES AND AND SECURITIES CAPITAL, CHARTER SECURITIES Power Plants equals 170 887 328 873 rubles and is divided into 170 887 328 873 ordinary shares, AND DIVIDEND each with a par value of one (1) ruble. THE NUMBER OF REGISTERED ISSUES OF SHARES POLICY DIVIDEND Date the issue State registration Number of ordinary As of December 31, 2012, the general structure Event was registered number shares issued Par value in rubles of the Charter Capital is as follows: POLICY 1. Primary issue 11.08.2011 1-01-55483-Е 16783508450 1.0 DIVIDEND POLICY 2. First additional issue 06.09.2012 1-01-55483-Е 63731298640 1.0 3. Second additional issue 06.09.2012 1-01-55483-Е 77066238786 1.0
CHARTER CAPITAL, SECURITIES AND Total number of shares in circulation 170887328873 1
On February 27, 2013, due to expiry of 3 months from the date of state registration of statements on DIVIDEND POLICY results of additional issues of ordinary registered No dividend policy has been approved by the uncertified shares of the Company, the Federal Company. Commission for Securities Market of the Russian Federation (FCSMRF) has cancelled identification In 2012, no dividends were paid. numbers (codes) 001D and 002D of the state registration numbers 1-01-55483-E-001D dated 06.09.2012 and 1-01-55483-E-002D dated 06.09.2012 which were assigned to additional issues of ordinary registered uncertified shares of the Company (FCSMRF Notification No.13- EK-03/6184 dated 27.02.2013). Ekaterinburg time MSK+2 (UTC+6)
QUALITY OF MANAGEMENT 11:0 0 Creation of a unified operating profile for corporate management ensures the further improvement of the Company’s plants performance IRIKLINSKAYA TPP YUZHNOURALSKAYA TPP 2012 2012
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PRINCIPLES AND Regulations on the Secretary of the In accordance with paragraph 10.5, Article 10, 147 CORPORATE DOCUMENTS Board of Directors of the Charter of the Company and paragraph 3, The Regulations on the Secretary of the Board of Article 47, of the Federal Law dated 26.12.1995,
146 MANAGEMENT The Company’s corporate governance entails the Directors was approved by the Board of Directors No. 208-FZ “On Joint Stock Companies”, aggregate of processes enabling management and on November 11, 2012 (Minutes No.44 dated decisions on matters within the competence of
control over its activities based on shareholder’s 29.11.2012). the General Shareholders’ Meeting are made by STRUCTURE MANAGEMENT CORPORATE STRUCTURE interests. These processes include relations the sole shareholder solely and in writing. between the shareholder, the Board of Directors, The Regulations represent an internal document and executive bodies of the Company working on of the Company establishing the procedure for COMPANY BOARD OF DIRECTORS PRINCIPLES AND AND PRINCIPLES behalf of the shareholder. The Company realizes appointment, dismissal and functions of Secretary that an efficient and transparent system of relations of OJSC INTER RAO - Electric Power Plants Board General management of the Company is between its executive bodies, shareholder, and of Directors. exercised by the Board of Directors, which passes
AND PRINCIPLES related parties is a competitive advantage. resolutions on significant issues concerning The Secretary of the Company’s Board of Company’s activities falling within the competence Company Charter Directors is a person authorized by the Company, established by the Charter of the Company.
CORPORATE MANAGEMENT STRUCTURE The Charter is the constituent document of the whose role is to support and ensure effective Company. The Charter includes information operation of the General Shareholders’ Meeting, The procedure for the activities of the Company’s regarding the Company’s legal status, objectives the Board of Directors as well as implementation Board of Directors is regulated by the Charter of and types of activities, charter capital, and of the rights and interests of its shareholders in OJSC INTER RAO - Electric Power Plants. shareholders’ rights. The document also accordance with the requirements established by describes the Company bodies, including their law. The Board of Directors is a collective body made competence, and operating procedures. up of 5 members.
The current version of the Charter was approved MANAGEMENT AND Members of the Board of Directors are elected by the sole shareholder of OJSC INTER RAO CONTROL BODIES by the General Shareholders’ Meeting for a – Electric Power Plants on June 3, 2011 and period lasting until the next Annual General registered on June 15 2011. The Company’s management bodies Shareholders’ Meeting. By resolution of the are: General Shareholders’ Meeting, the authority of Regulations on Convening and General Shareholders’ Meeting (sole all members of the Board of Directors may be Holding Meetings of the Board of shareholder); terminated early. People elected to the Board of Directors Directors may be re-elected an unlimited number Board of Directors; of times. The Regulations on Preparing and Holding Meetings of the Board of Directors of the Sole executive body (functions of the SEB were Members of the Company’s Board of Company were approved by the sole delegated to a managing company LLC INTER Directors shareholder of the Company on November 12, RAO – Management of Electric Power Plants 2012. under a contract of 31.07.2011 [unnumbered]). On June 29, 2012, the sole shareholder of OJSC The Regulations represent an internal document INTER RAO - Electric Power Plants elected the of the Company establishing the procedure for GENERAL SHAREHOLDERS’ Company’s Board of Directors, which is as follows: preparing and holding Meetings of the Board MEETING of Directors. They also define the rights and Chairman of the Board of Directors: obligations of the members of the Board of The General Shareholders’ Meeting is the Alexander Vadimovich Matveev Directors. supreme management body of the Company. Born: 1965 OJSC INTER RAO - Electric Power Plants is the Education: Ivanovo Power Engineering Institute company with the sole shareholder – OJSC INTER named after V. I. Lenin RAO UES. 2012 2012
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Positions held within the last 5 years: 2006 — 2007 2007 — 2011 2010 149 2011 — present: Limited Liability Company Abros Investment Limited Liability Company Konstantinovsky Open Joint-Stock Company Territorial Power Open Joint-Stock company INTER RAO UES Company Conrgess-Center Generating Company No. 11
148 Head of Technical Policy Department of the Deputy General Director for Economics and Head of Section Chairman of the Board of Directors Industrial Activity Department Finance 2007 — 2007 2010
2006 — 2011 Limited Liability Company KNAUF-SERVICE Open Joint-Stock Company Razdanskaya TPP STRUCTURE MANAGEMENT CORPORATE Branch of OJSC OGK-3, Cherepetskaya TPP Positions currently held in other companies’ Head of department Member of the Board of Directors named after L.G. Zhimerin, Chief Engineer management bodies:
2011 Other positions in other companies: none Nationality: Russian PRINCIPLES AND Other positions in other companies: Open Joint-Stock Company Territorial Power First elected to the Board of Directors: 2012 Generating Company No. 11 Nationality: Russian 03.06.2011 Closed Joint-Stock Company Moldavskaya TPP Member of the Board of Directors First elected to the Board of Directors: 31.10.2011 Share in the Company’s Charter Capital: 0% AND PRINCIPLES Member of the Board of Directors 2011 Share in the Company’s Charter Capital: 0% Share of the Company’s ordinary shares held: 0% Nationality: Russian Open Joint-Stock Company Mosenergosbyt Share of the Company’s ordinary shares held: 0% First elected to the Board of Directors: 31.10.2011 Member of the Board of Directors Olga Viktorovna Emelianova CORPORATE MANAGEMENT STRUCTURE Share in the Company’s Charter Capital: 0% 2011 Anton Yurievich Badenkov Share of the Company’s ordinary shares held: 0% Limited Liability Company INTER RAO — Born: 1978 Procurement Management Center Born: 1966 Education: All-Russian Open Institute of Finance Members of the Board of Directors: Member of the Board of Directors Education: Higher, Lomonosov Moscow State and Economics, Moscow Institute of Economics Alexandr Evgenievich Abramkov 2012 University and Statistics Open Joint-Stock Company Petersburg Born: 1977 Distribution Company Positions held within the last 5 years: Positions held within the last 5 years: Education: St. Petersburg State University Member of the Board of Directors 2009 — present: 2012 — present: Open Joint-Stock Company INTER RAO UES Open joint-stock company INTER RAO UES Positions held within the last 5 years: Nationality: Russian Counsel to the Chairman of the Management Head of Legal Support to Operations, Legal 2011 — present: First elected to the Board of Directors: Board Services Unit, OJSC INTER RAO UES Open Joint-Stock Company INTER RAO UES 03.06.2011 2004 — 2007 2007 — 2012 Head of Internal Audit, Controlling and Risk Share in the Company’s Charter Capital: 0% Open Joint-Stock Company TVEL Open Joint-Stock Company INTER RAO UES Management Department Share of the Company’s ordinary shares held: 0% Vice President, Deputy President of OJSC TVEL Head Methodology and Legal Support 2010 — 2011 Department in Legal Services Unit, Deputy Head Open Joint-Stock Company INTER RAO UES Andrey Anatolievich Korshunov Positions currently held in other companies’ of Department, Head of Directorate, Chief Expert Director for Audit and Internal Control management bodies: 2009 — 2010 Born: 1974 2010 Positions currently held in other companies’ Closed Joint-Stock Company National Media Education: St. Petersburg State University Closed Joint-Stock Company Moldavskaya TPP management bodies: Group Member of the Board of Directors 2012 Deputy General Director for Internal Control and Positions held within the last 5 years: 2010 Open Joint-Stock Company Saratovenergosbit Risk Management 2012 — present: Closed Joint-Stock Company Electric Networks Member of the Board of Directors 2008 — 2009 Open Joint-Stock Company INTER RAO UES of Armenia 2012 Open Joint-Stock Company National Director of Cost Control, Department of innovation, Member of the Board of Directors Open Joint-Stock Company Mosenergosbyt Telecommunications Deputy General Director for investment and cost control 2010 Member of the Board of Directors Economics and Finance 2011 — 2012 Limited Liability Company INTER RAO – 2012 2007 — 2008 Open Joint-Stock Company INTER RAO UES Procurement Management Center Open Joint-Stock Company Altaienergosbit Open Joint-Stock Company Gazprom Neft Head of Cost Control Department of the Finance Member of the Board of Directors Member of the Board of Directors Vice President, Deputy General Director for and Economics Center 2010 Construction and Logistics Open Joint-Stock Company Stand Nationality: Russian Member of the Board of Directors First elected to the Board of Directors: 31.10.2011 Share in the Company’s Charter Capital: 0% Share of the Company’s ordinary shares held: 0% 2012 2012
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Changes to the Board of Directors MEMBERS OF EXECUTIVE BODIES of the OJSC INTER RAO - Electric Power Plants Vitaly Vladimirovich Klimov 151 There were no changes to the Board of Directors OF THE COMPANY sole executive body to managing company dated Operations Audit Team Manager, LLC INTER of OJSC INTER RAO - Electric Power Plants in Starting on August 1, 2011, the authority of July 31 2011. RAO Electricity Generation Management
150 2012. the sole executive body of OJSC INTER RAO - Electric Power Plants has been delegated to the REVISION COMMISSION Sergey Konstantinovich Yudin Information on the Meetings of the managing company, Limited Liability Company Head of Audit Support Administration; Internal STRUCTURE MANAGEMENT CORPORATE Board of Directors Held in 2012 INTER RAO – Management of Electric Power The body overseeing financial and economic Audit, Control and Risk Management Unit, OJSC Plants. activities of the Company is the Revision INTER RAO UES
In 2012, the Board of Directors held 40 meetings, Commission of the Company. PRINCIPLES AND during which 79 issues of the Company’s daily The basis for the delegation of authority is the In 2012, no remuneration was paid to the members operation were addressed. Company sole shareholder’s decision dated July The Revision Commission of OJSC INTER RAO- of the Revision Commission. 28, 2011; the contract on delegation of authority Electric Power Plants is elected by the General
AND PRINCIPLES All resolutions on the Board of Directors passed of the sole executive body of OJSC INTER RAO - Shareholders’ Meeting (sole shareholder) to in 2012 were subject to remote voting (polling). Electric Power Plants to the managing company oversee financial and economic activities of INTERNAL CONTROL was signed on July 31, 2011. the Company for a period until the next Annual SYSTEM
CORPORATE MANAGEMENT STRUCTURE REMUNERATION OF THE COMPA- General Shareholders’ Meeting. NY’S BOARD OF DIRECTORS INFORMATION ON THE MANAGE- Efficiency of the internal control system in OJSC MENT COMPANY TO WHICH THE The Revision Commission is a collective body of INTER RAO - Electric Power Plants is controlled In accordance with sub-clause 10.2.20 of the three members. The procedure for operation of by the Revision Commission of OJSC INTER RAO POWERS OF THE SOLE EXECUTIVE Company Charter, the General Shareholders’ the Audit Committee is governed by the Charter. - Electric Power Plants and the Internal Audit Meeting is responsible for issues related to and BODY OF THE COMPANY WERE Service of the managing company LLC INTER determination of the amount of remuneration and TRANSFERRED On 18.02.2013, Regulations on the Revision RAO - Managment of Electric Power Plants on a compensation paid to members of the Board of Full name: Limited Liability Company INTER RAO Commission of the Company were approved. contractual basis. Directors. – Management of Electric Power Plants The main tasks of the Company’s Revision The Internal Audit Service is an independent In accordance with paragraph 3.4 of the Short name: LLC INTER RAO – Management of Commission are as follows: functional department within the structure of the Regulations on Preparing and Holding Meetings Electric Power Plants managing company and is represented by two of the Board of Directors of the Company exercising control over the financial and Boards with the following roles: approved by the sole shareholder of the Location: commercial activities of the Company; Company on 12.11.2012, members of the Board Bldg. 1, 27 Bolshaya Pirogovskaya St., 119435, independent oversight and control of financial of Directors may be entitled to remuneration Russian Federation monitoring the compliance of the Company’s and economic activities of the Company and and/or compensation of expenses associated financial and commercial transaction with functioning of the internal control system; with performance by members of the Board of Primary State Registration Number: legislation of the Russian Federation and with the Directors of their functions, in accordance with 1117746083432. Company Charter; internal auditing; the Regulations on Payment of Remuneration and Compensations to the Members of the Board of Taxpayer ID: 7704775342. performing an independent assessment of the providing unbiased assessment of the internal Directors as from time to time approved by the Company’s financial information. control system state and recommendations for its General Shareholders’ Meeting. Phone: (495) 664–76–80. improvement. The Revision Commission elected by COMMITTEES OF THE BOARD OF Fax: (495) 664–76–84. the sole shareholder on 29.06.2012: The Internal Audit Service is functionally DIRECTORS subordinate to the Audit Committee of the Members of the Revision The total remuneration paid to the managing managing company. The administrative direction As of 31.12.2012 no Committees of the Board company in 2012 was equal to 769124472 rubles, Commission of the Internal Audit Service activities is effected by of Directors of OJSC INTER RAO - Electric VAT included. Lyudmila Ivanovna Diordieva the General Director of the managing company. Power Plants were established. Head of Finance Audit Department, LLC INTER Remuneration of the managing company is paid RAO – Management of Electric Power Plants The main task of the Internal Audit Service is based on the contract for delegation of authority to perform audits of financial and commercial 2012 2012
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activities and evaluate the efficiency of the reviews reports based on audit results from the 153 Company’s risk management in order to ensure Internal Audit Service; the following:
152 organizes activities of the Internal Audit Service, that the financial reporting is complete and approves annual (semiannual, quarterly) audit
correct; schedules as well as reports on their fulfillment. STRUCTURE MANAGEMENT CORPORATE
that the assets are safe and the resources are
used in a logical manner; COMPANY AUDITOR PRINCIPLES AND The Company’s Auditor is annually approved that the transactions performed by the by the General Shareholders’ Meeting (sole Company are efficient and cost-effective; shareholder) to audit and verify annual Company’s
AND PRINCIPLES financial reports. that the Audit Committee and the managing company administration are promptly informed of The Company’s Auditor performs audit of the
CORPORATE MANAGEMENT STRUCTURE any detected risks and deficiencies of the internal Company’s financial and economic activities in control and risk management system.. accordance with the legislation of the Russian Federation and based on a signed contract. As part of the administration of the Internal Service activities, the Audit Committee performs Amount of payment for the Auditor’s services is the following functions: determined by the Company’s Board of Directors.
approves regulations related to the Company’s On June 29, 2012, the sole shareholder of OJSC Internal Audit Service; INTER RAO - Electric Power Plants approved Limited Liability Company Ernst & Young as the auditor of the Company.
AMOUNT OF PAYMENT TO THE AUDITOR IN 2012
Service Amount of remuneration, rubles
Auditing accounting statements prepared in accordance with the requirements of Russian legislation (Russian Accounting Standards) 6 171 400 Ekaterinburg time MSK+2 (UTC+6)
MOTIVATION AND PROTECTION 11:0 0 People are our key business asset. Therefore, ensuring the safety, health and promotion of professional development and welfare of our employees is among our absolute priorities. URENGOYSKAYA TPP 2012 2012
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The main aim of the OJSC INTER RAO - Electric PERSONNEL STRUCTURE PERSONNEL BY BRANCHES AND 157 PERSONNEL Power Plants’ HR policy is to build and maintain EXECUTIVE OFFICE OF THE COMPANY AS a staff consisting of professional, talented and A total of 12 765 people were employed at OF DECEMBER 31, 2012
156 industrious employees all striving to realize their OJSC INTER RAO - Electric Power Plants as of AND SOCIAL 0.2% potential by fulfilling the technical, economic and December 31, 2012, including 2 021 managers, 2 9.0% 8.5% social objectives of the Company. 740 specialists, and 8 004 workers. POLICY 9.2% 10.5% POLICY SOCIAL AND PERSONNEL The main aims of the HR policy in 2012: During 2012, the total number of the Company’s 0.6% personnel increased by 12,736 people. 7.4% 3.1% providing competitive worker salaries, social 6.4% benefits, and guarantees; The primary reason for the increase in the number 2.1%
of personnel is the reorganization of OJSC OGK- 3% 3.8% securing personnel to key positions and 1 and OJSC OGK-3 in the form of separation occupations; from OJSC First Generation and OJSC Third 6.0% 11.3%
PERSONNEL AND SOCIAL POLICY Generation with simultaneous incorporation of 7.2% working with reserve staff on lead specialist OJSC First Generation and JSC Third Generation 8.1% and management positions; into OJSC INTER RAO - Electric Power Plants.
increasing the quality of personnel by reaching Verkhnetagilskaya TPP Permskaya TPP PERSONNEL CATEGORIES Gusinoozyorskaya TPP Pechorskaya TPP competitive targets (optimal number of personnel; Dzhubginskaya TPP Severo-Zapadnaya TPP optimal personnel category ratio: workers, PERSONNEL ACCORDING TO Ivanovskiye CPP Sochinskaya TPP specialists, managers; ideal age composition; Iriklinskaya TPP Urengoyskaya TPP CATEGORY FROM 2011-2012 Kaliningradskaya TPP-2 Kharanorskaya TPP ideal level of personnel turnover; optimal Kashirskaya TPP Cherepetskaya TPP selection of employees by professional skills and Category 31.12.2011 31.12.2012 Kostromskaya TPP Yuzhnouralskaya TPP
Executive Office education). Managers 14 2 021
The 2012 HR policy has helped create a positive Specialists 15 2 740 trend in various fields, including an increase in the Workers 0 8 004 PERSONNEL STRUCTURE BY CATEGORIES inflow of young specialists on long-term contracts AS OF 31.12.2012 to the Company’s branches and the continued AGE PROFILE OF PERSONNEL FROM 15.8% employment of professional employees, and a 2011-2012 more efficient system for training, re-training and extension courses. Category 31.12.2011 31.12.2012
Up to 30 years old 0 2388
From 30 to retirement age 29 9020
Working pensioners 0 1357 21.5%
62.7%
Workers Managers Specialists 2012 2012
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COMPANY’S HEADCOUNT AS OF THE END OF 2011-2012 As of As of Company Personnel Development Groups 31.12.2011 31.12.2012 (Training, Attestation, Further Train- 159 Branch Total number of people ppl ppl ing etc.) in 2012 Name as of 31.12.2012 as of 31.12.2011 Higher education 29 5 111
158 The Company’s management recognizes Verkhnetagilskaya TPP branch 1091 - Secondary vocational education 0 5 423 the importance of continuous education and Gusinoozyorskaya TPP branch 1345 - Secondary education 0 2 231 further training for its staff. In 2012, expenses Dzhubginskaya TPP branch 79 - on educating and retraining personnel of OJSC POLICY SOCIAL AND PERSONNEL Total 29 12 765 Ivanovskiye CPP branch 393 4 INTER RAO - Electric Power Plants totaled Iriklinskaya TPP branch 814 - 65267.17 thousand rubles. In 2012, the share Kaliningradskaya TPP-2 branch 486 5 of employees undergoing further training which Kashirskaya TPP branch 1440 - required time off work was equal to 42.0%. Kostromskaya TPP branch 1038 - Permskaya TPP branch 914 - Pechorskaya TPP branch 770 -
PERSONNEL AND SOCIAL POLICY Severo-Zapadnaya TPP branch 382 4 Sochinskaya TPP branch 266 14 REMUNERATION Urengoyskaya TPP branch 445 - Average Monthly Salary of Employees, rubles Kharanorskaya TPP branch 940 - Branches 2011 2012 Cherepetskaya TPP named after L.G. Zhimerin branch 1177 - Yuzhnouralskaya TPP branch 1155 - Verkhnetagilskaya TPP branch - 44730 Executive Office 30 2 Gusinoozyorskaya TPP branch - 38365
Total 12765 29* Dzhubginskaya TPP branch - 60497
* Number of part-time employees at the time of incorporation of the Company. Ivanovskiye CPP branch 4475 40147
Iriklinskaya TPP branch - 42007
AGE PROFILE OF PERSONNEL Kaliningradskaya TPP-2 branch 11003 47696 In 2012, the share of employees aged up to 30 Kashirskaya TPP branch - 52816 was 18.7%, the share of working pensioners was FROM 2011-2012 Kostromskaya TPP branch - 47104 10.6%. 10.6% 18.7% Permskaya TPP branch - 47017
EDUCATION LEVEL Pechorskaya TPP branch - 63180
In 2012, the Company’s personnel education Severo-Zapadnaya TPP branch 5975 62640 level was as follows: Sochinskaya TPP branch 5186 55872
Urengoyskaya TPP branch - 109310 employees with higher education: 40.1% 70.7% Kharanorskaya TPP branch - 39514 employees with secondary vocational Cherepetskaya TPP named after L.G. Zhimerin branch - 29143
education: 42.5%. Yuzhnouralskaya TPP branch - 30699
up to 30 years old from 30 to retirement age working pensioners 2012 2012
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The Average monthly salary in 2011 is shown for Increased labor efficiency is attained by bonuses, 161 part-time employees at the time of incorporation which are linked to achievement of fixed targets of the Company. and connected with approved key performance
160 indicators (KPI). PERSONNEL MOTIVATION SYSTEM
One of the Company’s key tasks with regard to SOCIAL POLICY POLICY SOCIAL AND PERSONNEL human resources is forming a motivated staff and PRINCIPLES AND attracting young specialists to the Company who MILESTONES are capable of efficiently accomplishing the tasks set. COLLECTIVE LABOR CONTRACT The personnel motivation system is set forth in the In 2012, OJSC INTER RAO - Electric Power Plants Regulations on Salaries of the Company branch signed collective branch labor contracts based
PERSONNEL AND SOCIAL POLICY personnel, which is attached to collective labor on a single approach: These take define the contracts of the branches. procedure for provision of benefits, guarantees, and remuneration as well as amounts thereof. It is based on a single, standard approach for all branches and specifies the methods, principles All obligations by the employer set forth in the and approaches for providing incentives to every collective contracts are fulfilled. employee category. The personnel remuneration system is aimed at increasing employee loyalty to the Company and also increasing the employee performance rates. Ekaterinburg time MSK+2 (UTC+6)
CARE AND SUPPORT 11:0 0 The Company attaches primary importance to the successful social and economic development of the regions that it is present in and aims to contribute to the strengthening of its employees’ families and the local population’s well-being as a whole. NIZHNEVARTOVSKAYA TPP 2012 2012
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OJSC LLC INTER RAO - Electric Power Plants In 2012, OJSC LLC INTER RAO - Electric Power 165 CHARITY considers charity to be an essential part of its Plants and its branches continue to implement corporate social responsibility because many of their charity programs that help to solve issues
164 the Company’s branches are located in remote related to local social and economic development regions of the country where risks are extremely and to meet the needs of the socially vulnerable high and support from businesses is in great population. The Company also supports social demand and indispensable. For this reason, all organizations that contribute to the improvement the Company’s charitable initiatives are long-term of the quality of education, culture and a healthy and systematic and focused on social problems lifestyle.
directly in the regions that the Company’s power CHARITY plants are present in. An integral part of the Company’s work in the last
CHARITY year was, in particular, holding regular cultural The main type of corporate charitable activities are and sport events in which the local population aimed at helping the veterans of World War II and could participate along with the Company’s electric power industry veterans, promoting sports employees. and a healthy lifestyle, helping educational and pre-school institutions, orphanages, healthcare The activities of OJSC LLC INTER RAO - Electric institutions as well as supporting talented children Power Plants, that cover the implementation of and young people. charitable projects, promote social stability in the regions and strengthening of partnership relations with the authorities and the population. Better well-being in society, in its turn, creates a reliable platform for sustainable growth of the Company’s business. Irkutsk time MSK+5 (UTC+9)
ENVIRONMENTAL FRIENDLINESS AND ENERGY PERFORMANCE 14:00 The Company performs environmental safety in strict compliance with the current legislation. Using innovative technologies and solutions in the field of energy performance and energy conservation enables the Company to significantly reduce its GUSINOOZYORSKAYA TPP burden on the environment 2012 2012
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The Company strictly observes the regulatory ENVIRONMENTAL POLICY QUALITATIVE 169 PROTECTING requirements while protecting the environment PRINCIPLES EVALUATION OF and ensuring environmental safety. State AND MILESTONES THE COMPANY’S 168 THE regulation of environmental protection is based on environment protection legislation and strict ENVIRONMENTAL compliance with this legislation is essential to the Nature conservation is a priority for the Company.
IMPACT IN 2012 ENVIRONMENT THE PROTECTING ENVIRONMENT successful operation of the Company’s branches The Company’s main objectives include: reducing that produce power and heat. any negative impact on the environment, In 2012, there was a minor decrease in the State Regulation of Environmental Protection reducing air emissions, reducing water emissions, Company branches’ overall negative impact on in the Regions Where the Company Operates The basic effective environmental laws and and reducing and providing secure storage the environment. regulations are: for industrial waste by implementing nature conservation activities. The Dynamics of Pollutant Emissions over the Federal Law “Оn Environment Protection”; last 2 Years and Reasons (Factors, Events) Here are the main priorities and milestones of Affecting the Level of Emissions in 2012
PROTECTING THE ENVIRONMENT Federal Law “Оn Air Protection”; OJSC LLC INTER RAO - Electric Power Plants: Air emissions of pollutants are the main negative Federal Law “Оn Sanitary and Epidemiological acknowledging the people’s constitutional right environmental impact of the power plants. Safety of the Population”; to a healthy environment; Emission dynamics at the Company’s branches depend, first and foremost, on fuel balance Federal Law “Оn Industrial and Consumption considering environmental safety as part of changes. Waste”; national safety; The total quantity of air emissions versus 2011 Federal Law “Оn Land”; energy saving and rational usage of natural decreased by 2.236 thousand tons due to a power sources during the production, distribution, decrease in electricity generation by 649.662 Water Code of the Russian Federation; supply, and consumption of electric and heating million kWh. power; Land Code of the Russian Federation; assigning a high priority to the implementation Forest Code of the Russian Federation. of the best existing technologies;
taking preventive measures to eliminate negative environmental impact;
open and accessible environmental information, immediate notification of any accidents to all related parties, their environmental impact, and actions to eliminate their effects;
open and accessible results from environmental monitoring by OJSC LLC INTER RAO - Electric Power Plants enterprises, cooperating with all related parties during research conducted for the evaluation of the branches’ impact on the environment. 2012 2012
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DYNAMICS OF AIR EMISSIONS BY THE GENERATING FACILITIES OF JSC LLC DYNAMICS OF COST OF NATURE CONSERVATION FROM 2011-2012, mln rubles INTER RAO - ELECTRIC POWER PLANTS IN 2011-2012, THOUSAND TONS 171 600 2011 2012
170 500 Sulfur dioxide 82.266 78.069 Nitrogen oxide (in NO2) 86.873 95.221 400 521.216
Hard fuel ash 97.919 93.595 ENVIRONMENT THE PROTECTING 300 Carbon oxide 7.32 7.068 349.161
Total 274.378 273.953 200 336.929 91.678 79.328 100 70.919 71.541 191.434 3.034 1.048 0 Total Air Water Land Reclamation DYNAMICS OF AIR EMISSIONS IN 2011-2012, THOUSAND TONS 2011 2012 PROTECTING THE ENVIRONMENT 300
250 Dynamics of Payments for Negative Impact In comparison with 2011, payments for negative 274.378 200 273.953 on the Environment over the Last 2 Years (by impact on the environment increased by 635.801 impact type: air emissions, sewage, waste thousand rubles. The increase was due to the rise 150 storage) of payments for excess industrial waste disposal
100 and the rise in the inflation rated coefficient.
50 97.919 93.595 95.221 86.873 82.266 7.32 78.069 7.068 0 Total Sulfur dioxide Nitrogen oxide (in NO2) Hard fuel ash Carbon oxide DYNAMICS OF PAYMENTS FOR NEGATIVE IMPACT ON THE ENVIRONMENT FROM 2011-2012, THOUSAND RUBLES 2011 2012 2011 2012 DYNAMICS FOR FINANCING NATURE CONSERVATION FROM 2011-2012, Environmental Payments, total 63751.893 64390.694 THOUSAND RUBLES of which: Index 2011 2012 for standard emissions, discharge, and waste including: 58965.547 59553.334 Current environmental costs — total 33 929.448 521216.625 for discharge into water bodies 455.354 540.747 of which were spent: on air protection 70919.171 91678.856 for emissions into atmosphere 38451.486 38425.622 on the protection and rational usage of water resources 191434.099 349161.001 for waste storage 20058.707 19258.252
on protecting the environment(soil resources) from industrial and for excessive emissions, discharge, and waste including: 4786.346 4837.36 consumption waste 71541.978 79328.250 on land reclamation 3034.20 1048.518 for discharge into water bodies 4008.106 2475.875
for emissions into atmosphere 0 10.515
for waste storage 778.240 2350.97
Fines 15.0 40.0 2012 2012
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DYNAMICS OF STANDARD PAYMENTS FOR NEGATIVE IMPACT installation of waste metering and monitoring installation of a fish protection unit at the 173 ON THE ENVIRONMENT FROM 2011-2012, mln rubles devices at the Kostromskaya TPP; Urengoyskaya TPP; 80 172 70 construction of water treatment plant with two maintenance of the ash and slime dams and artesian wells at the Kostromskaya TPP; the turnover system for the hydraulic ash handling 60 facilities at the Kashirskaya TPP;
50 ENVIRONMENT THE PROTECTING 64.391 increasing the capacity of ash dump at the 63.751 59.553 40 58.965 Cherepetskaya TPP named after L.G. Zhimerin purchase of two ТЕSТО gas analyzers at the and the Gusinoozyorskaya TPP; Kashirskoi TPP; 30 38.451 20 38.425 construction of a dry fly ash collection and construction of integrated facilities for collection 10 disposal unit at the Gusinoozyorskaya TPP and a and treatment of surface and industrial sewage 0.455 0.54 20.058 19.258 0 number of other measures. from the industrial site at the Cherepetskaya TPP Total Standard Discharge into water bodies Emission into atmosphere Waste storage named after L.G. Zhimerin;
PROTECTING THE ENVIRONMENT 2011 2012 Actual investment for nature conservation activities in 2012 was 1,153,700.0 thousand rubles. construction of a sewage treatment system at the BNS No. 1 and No. 2 onshore pumping THE COMPANY’S construction of emergency drainage tank for stations at the Cherepetskaya TPP named after NATURE CONSERVATION transformer oil at the Urengoyskaya TPP; THE COMPANY’S L.G. Zhimerin; ACTIVITIES IN 2012 ENVIRONMENTAL construction of acid wash slag dump facility at OBJECTIVES FOR 2013 increasing the capacity of ash dump In 2012, costly measures were taken using the Urengoyskaya TPP; No. 4 (construction and installation) at the investment spent on protection of the environment, The primary environmental objectives for 2013 Cherepetskaya TPP named after L.G. Zhimerin: which significantly increased actual expenses construction of purge water slag dump clarifiers are the following: as compared with 2011 – by 859901 thousand at the Urengoyskaya TPP; replacement of mercury lamps with LED lamps rubles. reduction in environmental payments for at the Iriklinskaya TPP; construction of a bypass channel at the negative environmental impact, no payments for The most costly activities performed by the Iriklinskaya TPP; exceeding limits; extension of the ash and slime dams at the branches of LLC INTER RAO - Electric Power Kharanorskaya TPP; Plants are as follows: installation of sewage treatment plant at the prompt reception of permits; Iriklinskaya TPP; work covering implementation of the sewage construction of drain water neutralizing facility fulfillment of planned nature conservation treatment system at the onshore pumping station at the Urengoyskaya TPP; construction of dry ash disposal system at the activities aimed at reducing the negative impact of the Yuzhnouralskaya TPP; Kashirskaya TPP; on the environment. construction of storm water treatment plant at extension of the dams of the ash dump working the Urengoyskaya TPP; reconstruction of ash dumps at the Kashirskaya The most important measures as part of the sections at the Yuzhnouralskaya TPP. TPP; investment for environmental protection in 2013 construction of oily water effluent treatment will be: plant at the Urengoyskaya TPP; modernization of fuel supply aspiration units at the Kashirskaya TPP; construction of sewer network at the Urengoyskaya TPP; modernization of condensate coarse cleaning cooler at the Kashirskaya TPP; construction of storm sewer network at the Urengoyskaya TPP; Yakutia time MSK+6 (UTC+10)
TRANSPARENCY AND ACCURACY 15:00 Thanks to high-quality and timely communication with its external auditors, the Company became a leader in information transparency among Russian companies in the fuel and energy complex. KHARANORSKAYA TPP 2012 2012
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FINANCIAL STATEMENTS 177
176 AUDIT REPORT FOR THE 2012 FINANCIAL STATEMENTS IN ACCORDANCE WITH RUSSIAN
ACCOUNTING STANDARDS (RAS) FINANCIAL STATEMENTS
Ernst & Young LLC ООО «Эрнст энд Янг» Sadovnicheskaya Nab. 77, Россия, 115035, Москва bld. 1 Moscow, 115035, Russia Садовническая наб., 77, стр. 1 Tel: +7 (495) 705 9700 Тел: +7 (495) 705 9700 +7 (495) 755 9700 +7 (495) 755 9700 +7 (495) 755 9701 +7 (495) 755 9701 Fax: +7 (495) 755 9701 Факс: +7 (495) 755 9701 Opinion FINANCIAL STATEMENTS FINANCIAL www.ey.com ОКПО: 59002827 In our opinion, the accounting (financial) statements present fairly, in all material respects, the financial position of OJSC LLC INTER RAO - Electric Power Plants as of December 31, 2012, its financial and economic performance and its cash flows for the year 2012 in accordance with the Russian accounting (financial) standards. Independent auditors’ report Important considerations To the sole shareholder of OJSC LLC INTER RAO - Electric Power Plants Without prejudice to our opinion that the accounting (financial) statements have been presented fairly, we draw We have audited the accompanying consolidated accounting (financial) statements of attention to the information provided in Note 1 of Item 4 of the Explanatory Notes to the accounting (financial) OJSC LLC INTER RAO - Electric Power Plants, which comprise the statement of affairs statements, namely, the reorganization of the Company which was accomplished on October 1, 2012 in the form as at December 31, 2012, the statement of financial performance for 2012 and appendices of incorporation with the Company of OJSC “First Generation” established after reorganization of OJSC “OGK-1” thereto. in the form of separation, and OJSC “Third Generation” established after reorganization of OJSC “OGK-3” in the form of separation. Audited’ entity’s responsibility for the accounting (financial) statements Miscellaneous Management of OJSC LLC INTER RAO - Electric Power Plants is responsible for the preparation and fair presentation of these accounting (financial) statements in accordance These accounting (financial) statements are not intended to present the Company’s financial situation and with the Russian Accounting (Financial) Statements Rules, and the internal control system performance in accordance with any accounting principles and methods common for any other country or territory necessary for the preparation of accounting (financial) statements free from material outside the Russian Federation, Accordingly, these accounting (financial) statements are not intended for persons misstatement, whether due to fraud or error. who are not familiar with accounting principles, procedures and methods accepted in the Russian Federation.
Auditor’s responsibility I.A. Buyan Partner of Our responsibility is to express an opinion on the fair presentation of these financial Ernst&Young LLC statements based on our audit. February 14, 2013 We conducted our audit in accordance with the National Standards on Auditing in force in the Russian Federation and International Standards on Auditing. Those standards require that Information on the audited entity we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the accounting (financial) statements are free from material Name: OJSC LLC INTER RAO - Electric Power Plants misstatement. Information on registration of the legal entity in the Unified State Register of Legal Entities: Certificate of registration of legal entity in the Unified State Register of Legal Entities with registration number An audit involves performing procedures to obtain audit evidence of the amounts and 1117746460358 dd. June 15, 2011, issued by Moscow Interdistrict Inspectorate of the Federal Tax Service No. 46 disclosures in the accounting (financial) statements. The procedures selected depend Location: Bldg. 1, 27, Bolshaya Pirogovskaya St., Moscow, 119435, Russian Federation on the auditor’s judgment based on assessment of the risks of material misstatement of the accounting (financial) statements, whether due to fraud or error. In making those risk Information on the auditor assessments, the auditor considers the internal control system relevant to preparation and fair presentation of the accounting (financial) statements in order to select appropriate audit Name: Ernst&Young LLC procedures, but not for the purpose of expressing an opinion on the effectiveness of the Primary State Registration Number 1027739707203. internal control system. An audit also includes evaluating the appropriateness of accounting Location: Bldg. 1, 77, Sadovnicheskaya St., Moscow, 115035, Russia policies used and the reasonableness of accounting estimates made by management, as Ernst&Young LLC is a member of the Nonprofit Partnership “Audit Chamber of Russia” well as evaluating the overall presentation of the accounting (financial) statements. (NP APR). Ernst&Young LLC is registered in the Register of Auditors and Audit Organizations of the NP APR with registration number 3028 and is included in the reference copy of the Register of Auditors and Audit We believe that the audit evidence we have obtained is sufficient and appropriate to provide Organizations with primary registration number of the entry 10201017420. a basis for our opinion. 2012 2012
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ACOUNTING REPORTS FOR 2012 IN ACCORDANCE 179 WITH RUSSIAN ACCOUNTING STANDARDS (RAS) 178
Balance sheet Index Code As of As of As of as of December 31, 2012 Codes December 31, December 31, December 31, 2012 2010 Form for 0710001 2011 All-Russian Classifier of Management LIABILITIES Documentation FINANCIAL STATEMENTS Date (day, month, III. CAPITAL AND RESERVES year) 9 Charter Capital (share capital, authorized fund, 1310 170887329 30089791 - Company: Open Joint-Stock Company LLC INTER RAO - Electric Power Plants All-Russian Classifier 92516444 of Businesses and partnership contributions) Organizations - Own shares acquired from shareholders 1320 Taxpayer ID Taxpayer ID 7704784450 Type of activity: Production of electricity All-Russian Classifier - Reassessment of non-current assets 1340 - -- of Economic Activities 9 Capital surplus (without reassessment) 1350 13505056 4707918 - 40.10.1 9 Reserve capital 1360 973 - - FINANCIAL STATEMENTS FINANCIAL All-Russian Classifier Legal form/form of ownership: Open Joint-Stock Company/private 47 16 Measurement unit: thousand rubles of Legal Forms/All- 9 Retained earnings (uncovered loss) 1370 (412,090) 19451 Russian Classifier of Forms of Ownership Total for section III 1300 183981268 34817160 - All-Russian Classifier 384 of Measurement Units IV. LONG-TERM LIABILITIES Location (address): Bldg. 1, 27 Bolshaya Pirogovskaya St., Moscow, 119435 . Loans and credits 1410 - - -
Explana- Index Code As of As of As of 16 Deferred tax liabilities 1420 4790274 200345 - tions December 31, December 31, December 31, 10 Estimated liabilities 1430 705,271 - 2012 2011 2010 11 Other liabilities 1450 17,215,442 6,644 - ASSET 1110 11579 - - I. NON-CURRENT ASSETS Total for section IV 1400 22,710,987 206,989 - Intangible assets - Research and development results 1120 6509 - V. SHORT-TERM LIABILITIES
- Intangible development assets 1130 - - - - Loans and credits 1510 - - - - Tangible development assets 1140 - - - 11 Accounts payable, including: 1520 20617619 405188 - 2 Fixed assets, including: 1150 170285946 32821634 - - Suppliers and contractors 1521 16483356 14999 - 2 Construction in progress 1151 48732880 - - Salaries payable 1522 226626 2 . - Payable to state non-budgetary funds 1523 160740 2 _ 2 Interest-bearing investments in tangible assets 1160 48599 - - - Taxes and duties payable 1524 603443 358735 - 3 Financial investments 1170 7285215 - - Income payable to members (founders) 1525 _ _ _ 16 Deferred tax assets 1180 2846788 131637 - Other creditors 1526 3143454 31450 - - Deferred income 1530 1679 - - 4 Other non-current assets, including: 1190 9733394 119555 10 Estimated liabilities 1540 1895489 - - - Investments in non-current assets 1191 16916 - - - Other liabilities 1550 - - - - Accounts receivable 1192 8738998 116433 • Total for section V 1500 22514787 405188 - - Other non-current assets 1193 977480 3122 BALANCE 1700 229207042 35429337 - Total for section I 1100 190218030 33072826
5 II. CURRENT ASSETS 1210 7199881 9 Chief Reserves Accountant VAT on acquired assets 1220 822921 7 Manager G.F. Binko M.R. Evdokimova 6 Accounts receivable, including: 1230 15661566 1416562 (signature) (printed name) (signature) (printed name)
- Buyers and customers 1231 11248026 944483 - February 14, 2013 - Advances made 1232 1020946 468329 - - Other debtors 1233 3392594 3750 - 3 Financial investments (excluding cash equivalent) 1240 2330405 -
7 Cash and cash equivalent 1250 12811985 938978
8 Other current assets 1260 16,254 955 - Total for section II 1200 38989012 2356511
BALANCE 1600 229207042 35429337 2012 2012
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Financial performance statement as of January-December 2012
Codes Capital change report Codes 181 Form for Form for 0710002 for 2012 0710003 All-Russian Classifier All-Russian Classifier of of Management Management Documentation Documentation Date (day, month, year) Date (day, month, year) 180 All-Russian Classifier of 92516444 Businesses and Organizations Company: Open Joint-Stock Company LLC INTER RAO - Electric Power Plants All-Russian Classifier 92516444 Company: Open Joint-Stock Company LLC INTER RAO - Electric Power Plants of Businesses and Taxpayer ID Taxpayer ID Organizations 7704784450 Type of activity: Production of electricity Taxpayer ID Taxpayer ID 7704784450 Type of activity: Production of electricity All-Russian Classifier of Economic Activities All-Russian Classifier of 4010.1 FINANCIAL STATEMENTS Economic Activities 40.10.1 Legal form/form of ownership: Open Joint-Stock Company/private Legal form/form of ownership: Open Joint-Stock Company/private All-Russian Classifier of 47 16 Legal Forms/All-Russian All-Russian Classifier of Legal 47 16 Classifier of Forms of Forms/All-Russian Classifier of Forms of Ownership Ownership Measurement unit: thousand rubles All-Russian Classifier of 384 Measurement unit: thousand rubles All-Russian Classifier of 384 Measurement Units Measurement Units
Explana- Index Code January - as of June 15 - as of tions December 31, 2012 December 31, 2011 I. Changes in capital
FINANCIAL STATEMENTS FINANCIAL 13 Revenues, including: 2110 45572345 1751189 Index Code Charter Capital Own Surplus Reserve Nondistributed Total Capital Capital 13 from electricity sales 2111 30491142 - shares profit bought (uncovered 13 from capacity sales 2112 11475641 - from loss) 13 from heating power sales 2113 1037975 - share- 13 from sales of goods, products, works and services 2114 2567587 1751189 holders 14 Cost of goods sold, including: 2120 (44084542) (1608362) Size of capital as of December 31, 3100 ------2010 14 electricity 2121 (28622601) - For 2011: Total capital 3210 30089791 4707918 19451 34817160 14 capacity 2122 (11753706) - increase: 14 heating power 2123 (1353186) - including: net profit 3211 X x X x 19451 19451 reassessment of 3212 X x - x - - 14 other goods, products, works and services 2124 (2,355049) (1608362) assets - Gross profit/loss 2100 1487803 142827 income directly related to capital 3213 X x - x 14 Selling and marketing costs 2210 (59591) - increase additional issue of shares 3214 - - - x x - 14 Administrative expenses 2220 (710945) (60885) increase in the shares' par value 3215 - - - x - X - Sales profit/loss 2200 717267 81942 incorporation/reorganization of a 3216 30089791 - 4707918 - - 34797709 - Income from participation in other companies 2310 - - legal entity 15 Interest receivable 2320 382484 11583 Capital decrease in total: 3220 ------including: loss 3221 X x x x . - 15 Interest payable 2330 (118464) - reassessment of 3222 X x - x - - 15 Other income 2340 1207391 6 assets 15 Other expenses 2350 (2462523) (5372) income directly related to capital 3223 X x - x - - decrease 15 including expenses related to reorganization 2351 156717 - decrease in the shares' par value 3224 - - - x - - . Profit/loss before tax 2300 (273845) 88159 decrease in the number of shares 3225 - - - x - - Current income tax 2410 - reorganization of a legal entity 3226 ------dividends 3227 X x x x - - 16 including permanent tax liabilities (assets) 2421 211280 51077 Change in capital surplus 3230 X x - - - x 16 Change in deferred tax liabilities 2430 (2631231) (200345) Change in reserve capital 3240 X x x - - x 16 Change in deferred tax assets 2450 2474720 131637 Size of capital as of December 31, 3200 30089791 - 4707918 - 19451 34817160 2011 Income tax from previous tax periods 2460 - - For 2012: Total capital 3310 140797538 - 8797138 - - 149594676 Other 2460 (212) - increase: including: net profit 3311 X x x x - - - Net Profit/Loss 2400 (430568) 19451 reassessment of 3312 X x - x - - assets FOR REFERENCE 2510 income directly related to capital 3313 X x - x - - Non-current assets reassessment result, not included increase in net profit (loss) for the period additional issue of shares 3314 - - - x X - Result of other transactions not included in net profit 2520 . . increase in the shares' par value 3315 - - - x - x (loss) for the period incorporation/reorganization of a 3316 140797538 - 8797138 - - 149594676 legal entity . Total financial result of the period 2500 (430 568) 19 451 Capital decrease in total: 3320 - - - - (430568) (430568) 9 Basic earnings (losses) per share 2900 (0.00659) 0.00065 including: loss 3321 x x X x (430568) (430568) - Diluted earnings/losses per share 2910 - - reassessment of 3322 x x - x - - assets income directly related to capital 3323 x x - x - - decrease Chief decrease in the shares' par value 3324 - - - x - - Accountant decrease in the number of shares 3325 - - - x - Manager G.F. Binko M.R. Evdokimova incorporation/reorganization of a 3326 ------legal entity (signature) (printed name) (signature) (printed name) dividends 3327 x x X x - - Change in capital surplus 3330 x x -- -Х February 14, 2013 Change in reserve capital 3340 x x X 973 (973) X Capital size as of December 31, 2012 3300 170887329 . 13505056 973 (412090) 183981268 2012 2012
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Cash flow statement for January to December 2012 2. Adjustment due to changes in accounting policy and correction of errors Codes 183 Form for Index Code As of December 31, Change in capital in 2011 As of December 31, 0710004 All-Russian Classifier 2010 due to net profit (loss) due to other factors 2011 of Management Documentation Capital, total: Date (day, month, year) 182 before adjustment due to: 3400 ---- Company: Open Joint-Stock Company LLC INTER RAO - Electric Power Plants All-Russian Classifier 92516444 of Businesses and change in accounting policy Organizations Taxpayer ID 3410 ---- Taxpayer ID correction of errors 7704784450 Type of activity: Production of electricity 3420 ----
after adjustment FINANCIAL STATEMENTS 3500 ---- All-Russian Classifier of 40.10.1 of which: Economic Activities Legal form/form of ownership: Open Joint-Stock Company/private undistributed profit (uncovered loss) All-Russian Classifier of 47 16 Legal Forms/All-Russian before adjustment due to: 3401 ---- Classifier of Forms of Ownership Measurement unit: thousand rubles All-Russian Classifier of 384 Measurement Units
FINANCIAL STATEMENTS FINANCIAL change in accounting policy 3411 ---- correction of errors Index Code January - as 15.06 - as of 3421 ---- after adjustment of December 31, 31.12 2011 3501 ---- 2012 other capital items adjusted: ---- Cash assets from day-to-day operations 4110 44452621 5385656 Total income (by item) including: prior to adjustment 3402 ---- adjustment due to: from sales of products, goods, works and services 4111 40658794 - from lease, license fees, royalty, commissions and similar payments 4112 1614517 761193 change in accounting policy 3412 resale of financial investments 4113 - - correction of errors other income 4119 2179310 4624463 after adjustment 3422 ---- Including other income as part of VAT 4119.1 1678506 - 3502 ---- Total payments 4120 (41215411) (685025) including:
3. Net assets to suppliers (contractors) for raw materials, materials, works and services 4121 (36050292) (60597) in connection with salary payment 4122 (2124159) (1293) Index Code As of December 31, As of December As of December 2012 31, 2011 31, 2010 interest on debt 4123 - - Net assets ______3600 183982947 34817160 - corporate income tax 4124 - - other payments 4129 (3040960) (623135) Cash flow balance from current transactions 4100 3237210 4700631
Chief Cash flow from investment transactions 4210 3779513 10542 Accountant Total income Manager G.F. Binko M.R. Evdokimova including: 4211 4742 10542
(signature) (printed name) (signature) (printed name) from non-current assets sale (except financial investments) from sale of other companies’ shares (participation interests) 4212 - - February 14, 2013 from loan returns and sales of debentures (chose in action to other parties) 4213 - - dividends, interest on debt investments and similar income from participation in 4214 272742 - other companies from return of deposits 4215 2500000 - other income 4219 1002029 - Total payments 4220 (12995945) (3782378) including:
due to purchase, creation, modernization, reconstruction and preparation of non- 4221 (10683387) (3782378) current assets from purchase of other companies’ shares (participation interests) 4222 - - from purchase of debentures (chose in action for cash to other parties), granting 4223 - - loans to other parties 2012 2012
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Code January - as 15.06 - as of 31.12 of December Index 2011 185 31, 2012 APPENDICES interest on debt included in cost of the investment asset 4224 - - deposit placement 4225 (2312558) -
184 other payments 4229 - - Balance of cash flows from investment transactions 4200 (9216432) (3771836) Cash flow from financial transactions 4310 - 10183 APPENDIX 1 Total income including: INFORMATION ON OBSERVANCE OF THE CODE OF CORPORATE CONDUCT taking credits and loans 4311 - - BY OJSC LLC INTER RAO - ELECTRIC POWER PLANTS cash deposits by owners (members) 4312 - 10183 APPENDICES from issue of shares, increase in participation interests 4313 - - from issue of bonds, promissory notes and other debt securities etc. 4314 - - In its activities, the Company aims at compliance shares of which belong to the sole shareholder other income 4319 - - with all standards and recommendations provided decisions on matters within the competence of Total payments 4320 - - including: in the Code of Corporate Conduct recommended the General Shareholders’ Meeting are made by
FINANCIAL STATEMENTS FINANCIAL to owners (members) for their shares (participation interests) 4321 - - for use by companies incorporated in the Russian the sole shareholder solely and in writing. The for dividends and other profit distribution payments to owners (members) 4322 - - Federation as per the Decree of the Federal provisions defining the procedure and terms of for redemption (purchase) of promissory notes and other debenture stock 4323 - - Securities Commission of Russian Federation preparation, convening and holding of general repayments of credits and loans No.421/p dated 04.04.2002 subject to paragraph meetings of shareholders are not applied, other payments 4329 - - Cash flow balance from financial transactions 4300 - 10183 3, Article. 47, of the Federal Law “On Joint Stock except for the provisions relating to the time for Cash flow balance for reporting period 4400 (5979222) 938978 Companies” stating that in a company all voting holding annual general shareholders’ meetings. Cash and cash equivalent balance at the beginning of reporting period 4450 938978 - Cash and cash equivalent balance at the end of reporting period 4500 12811686 938978 Impact of the foreign currency exchange rate to the Ruble 4490 (23732) - Acquired resulting from reorganization - 17875662 -
Chief Accountant Manager G.F. Binko M.R. Evdokimova (signature) (printed name) (signature) (printed name) February 14, 2013
Explanations for the accounting (financial) Plants, under the section “Information Disclosure” statements are available on the Company’s at http://www.irao-generation.com/investor/ website OJSC LLC INTER RAO - Electric Power rasinf_gen/. 2012 2012
ANNUAL REPORT ANNUAL REPORT 187 186 APPENDICES Transaction amount, Rubles Transaction amount, Rubles Transaction 11 549 974 876 (Eleven Billion Five Hundred Forty-Nine Million Nine Hundred Seventy-Four Thousand Eight Hundred Seventy-Six) rubles 00 kopecks. 27 841 464 958 Billion Eight (Twenty-Seven Hundred Forty-One Million Four Hundred Sixty-Four Thousand Nine Hundred Fifty-Eight) rubles 45 kopecks. APPENDICES Material terms and conditions of the transaction Material terms and conditions of the transaction Seller shall transfer to the Purchaser ownership of assets in accordance with Appendix 1.1 (hereinafter referred to as «Assets»), and Buyer agrees to accept said propertyfor it. and pay The prices under the contract (contracts): 11 549 974 876 (Eleven Billion Five-Hundred Forty Nine Million Hundred Seventy Four Thousand Eight Hundred Seventy-Six) rubles 00 Billion of 2 074 737 798 (Two kopecks, plus VAT Seventy-Four Million Seven Hundred Thirty- Seven Thousand Hundred Ninety-Eight) rubles 00 kopecks (sale of land to the amount Million Six Hundred 23 653 776 (Twenty-Three Fifty-Three Thousand Seven Hundred Seventy- Six) rubles 00 kopecks, VAT-free). Duration of the contract (contracts): The (contracts) shall come into effect on the date of signature and shall be applicable to the parties as of 01.10.2012 and remain in force until the parties fully complete their obligations. Seller shall transfer to the Purchaser ownership assets in accordance with Appendix 1.1 of fixed (hereinafter referred to as «Assets»), and Buyer agrees to accept said propertyfor it. and pay 31 The price under the contract shall not exceed 537 234 643 20 (Thirty-One Billion Five Hundred Hundred Thirty-FourThirty-Seven Million Two Thousand Six Hundred Forty-Three) rubles 20 in the amount of 3 003 kopecks including 18% VAT 119 676 00 (three billion three million one hundred nineteen thousand six hundred seventy-six) rubles only. Interest rate: Starting from December 1, 2012, for provision of a grace period in respect payment to the Seller an for the Assets, Buyer will pay twelve (12) percent interest at a rate not exceeding 11 826 462 per annum, which will not exceed 991.20 (Eleven Billion Eight Hundred Twenty-Six Thousand Nine Million Four Hundred Sixty-Two Hundred Ninety-One) rubles 20 kopecks. deadline as per contracts: Payment for the Assets on or Buyer shall make a payment before November 30, 2017. Duration of contracts and supplementary agreements: The contract (contracts) shall come into effect on the date of signature and remain in force until the parties fully complete their obligations. Supplementary agreements shall come into effect on the date of signature and shall be applicable to the parties as of 01.12.2012 and remain in force until the parties fully complete their obligations. Transaction partyTransaction partyTransaction OJSC «LLC INTER RAO UES» OJSC «LLC INTER RAO as the Seller, OJSC LLC INTER - Electric Power Plants as RAO the Buyer. OJSC LLC INTER RAO UES OJSC LLC INTER RAO as the Seller, OJSC LLC INTER - Electric Power Plants as RAO the Buyer. The Company body which approved the transaction, date of approval The Company body which approved the transaction, date of approval - Electric Power Plants BOD, Minutes No.37 dd. 01.10.2012 Company. Decision dd. 21.12.2012 (unnumbered) date date Transaction Transaction Transaction 1 01.10.2012 OJSC LLC INTER RAO No. No. 2 25.12.2012 Sole shareholder of the APPENDIX 2 TRANSACTIONS PARTY AND RELATED ON LARGE-SCALE INFORMATION IN THE REPORTING THE COMPANY CONCLUDED BY TRANSACTIONS ON LARGE-SCALE INFORMATION YEAR 2012 2012
ANNUAL REPORT ANNUAL REPORT
INFORMATION ON RELATED PARTY TRANSACTIONS CONCLUDED BY THE Plant No. Type (Brand) of Manufacturing Operation Installed power capacity, Heating capacity, COMPANY IN THE REPORTING YEAR turbines Plant Year MW Gcal/h 189 123456 Transaction Transaction The Company body which Material terms and conditions of the Kostromskaya TPP 3600 450 188 date approval date approved the transaction transaction TPB 01 К-300-240 LMZ 1969 300 50
In accordance with subparagraph 3, paragraph 2, Article 81 of the Federal Law ”On Joint Stock Companies”, the provisions of TPB 02 К-300-240 LMZ 1969 300 50 Chapter XI of said Federal Law regarding interest of the Company in performance of transactions are not applicable. TPB 03 К-300-240 LMZ 1970 300 50 TPB 04 К-300-240 LMZ 1970 300 50 TPB 05 К-300-240 LMZ 1971 300 50 APPENDICES APPENDIX 3 TPB 06 К-300-240 LMZ 1972 300 50 TPB 07 К-300-240 LMZ 1972 300 50 INFORMATION ON ENERGY RESOURCE VOLUMES USED IN 2012* TPB 08 К-300-240 LMZ 1973 300 50 APPENDICES TPB 09 К-1200-240 LMZ 1980 1200 50 Energy Resource Measurement Cost, thousand rubles Quantity Pechorskaya TPP 1060 327 Process fuel Non-process fuel Unit (excluding VAT) Gas mln m3 18335.599 56 942 443 TPB 01 К-210-130-3 LMZ 1979 210 65.4 Coal thousand tons 10164.409 13 470 137 TPB 02 К-210-130-3 LMZ 1980 210 65.4 Fuel oil thousand tons 105.283 926 443 TPB 03 К-210-130-3 LMZ 1984 210 65.4 Diesel fuel thousand tons 8.370 686 735 TPB 04 К-215-130-1 LMZ 1987 215 65.4 Gas turbine fuel thousand tons 0.226 57 TPB 05 К-215-130-1 LMZ 1991 215 65.4 Petroleum and other non- process fuel – – – Kharanorskaya TPP 655 192 Purchased electricity TPB 01 К-215-130-1 LMZ 1998 215 64 (except Wholesale Electricity and Capacity - - 61 394 TPB 02 К-215-130-1 LMZ 2001 215 64 Market) TPB 03 К-225-12,8-3Р LMZ 2012 225 64 Purchased capacity MW 106 17 125 Cherepetskaya TPP 1285 94 Purchased heating power - - 9571 TPB 01 К-140-160 LMZ 1953 140 21.3 * The information is provided as of 31.12.2012 inclusive of operation of OJSC LLC INTER RAO - Electric Power Plants’ branches during 2012 (also as JSC OGK-1 and JSC OGK-3 branches). TPB 02 К-140-160 LMZ 1954 140 21.3 TPB 03 К-140-160 LMZ 1956 140 21.3 TPB 05 К-300-240 LMZ 1963 300 10 APPENDIX 4 TPB 06 К-300-240 LMZ 1964 300 10 TPB 07 К-300-240 LMZ 1966 265 10 OJSC LLC INTER RAO - ELECTRIC POWER PLANTS’ PRIMARY EQUIPMENT Yuzhnouralskaya TPP 882 395 CHARACTERISTICS TG 02 К-50-90-2 LMZ 1952 50 - Turbines (by electric power plant) TG 03 К-50-90-2 LMZ 1952 50 - TG 04 P-35/50-90/9 LMZ 1953 35 75 Type (Brand) of Manufacturing Operation Installed power capacity, Heating capacity, Plant No. turbines Plant Year MW Gcal/h TG 05 PT-83/100-90/2,5 LMZ 1996 83 110 123456 TG 06 К-100-90-5 LMZ 1954 100 - Gusinoozyorskaya TPP 1100 221 TG 07 Т-82/100-90/2,5 LMZ 1956 82 105 TPB 01 К-210-130-3 LMZ 1976 170 38 TG 08 Т-82/100-90/2,5 LMZ 1956 82 105 TPB 02 К-210-130-3 LMZ 1977 180 27 TPB 09 К-200-130 LMZ 1961 200 - TPB 03 К-210-130-3 LMZ 1978 170 27 TPB 10 К-200-130 LMZ 1961 200 - TPB 04 К-210-130-3 LMZ 1979 180 43 Iriklinskaya TPP 2430 120 TPB 05 К-215-130-1 LMZ 1988 200 43 TPB 01 К-300-240-1 LMZ 1970 300 15 TPB 06 К-215-130-1 LMZ 1992 200 43 TPB 02 К-300-240-1 LMZ 1970 300 15 2012 2012
ANNUAL REPORT ANNUAL REPORT
Type (Brand) of Manufacturing Operation Installed power capacity, Heating capacity, Plant No. Type (Brand) of Manufacturing Operation Installed power capacity, Heating capacity, Plant No. turbines Plant Year MW Gcal/h turbines Plant Year MW Gcal/h 191 123456 123456 TPB 03 К-300-240-3 LMZ 1981 300 15 Urengoyskaya TPP 484 110 190 TPB 04 К-300-240-1 LMZ 1972 300 15 Turbine Plant of PT 01 PT-12/15-35-10М Kaluga 1992 12 55 TPB 05 К-300-240-1 LMZ 1972 300 15 PT 02 PT-12/15-35-10М Turbine Plant of 1990 12 55 TPB 06 К-300-240-1 LMZ 1974 300 15 Kaluga Leningrad TPB 07 К-300-240-1 LMZ 1978 300 15 PT 01 К-160-7.5 Kirov Plant, St. 2012 165 - TPB 08 К-300-240-1 LMZ 1979 300 15 Petersburg APPENDICES Urals Industrial Leningrad TG 02 РО123ВМ200 Equipment Plant of 1958 7.5 - GТ 01 GTE-160/ЗОТ5-2000Е Kirov Plant, St. 2012 147.5 - Sysert Petersburg Urals Industrial Leningrad APPENDICES TG 03 РО123ВМ200 Equipment Plant of 1957 7.5 - GТ 02 GTE-160/SGT5-2000E Kirov Plant, St. 2012 147.5 - Sysert Petersburg Urals Industrial Kaliningradskaya TPP-2 875 680 TG 04 РО123ВМ200 Equipment Plant of 1957 7.5 - PT 10 Т-150-7,7 LMZ 2005 150 340 Sysert Urals Industrial GTU 11 GTU-160 LMZ 2005 150 - TG 05 РО123ВМ200 Equipment Plant of 1957 7.5 - Sysert GTU 12 GTU-160 LMZ 2005 150 - Permskaya TPP 2400 420 PT 20 Т-150-7,7 LMZ 2010 125 340 TPB 01 К-800-240-5 LMZ 1986 800 140 GTU 21 GTU-160 LMZ 2010 150 - TPB 02 К-800-240-5 LMZ 1987 800 140 GTU 22 GTU-160 LMZ 2010 150 - TPB 03 К-800-240-5 LMZ 1990 800 140 Severo-Zapadnaya TPP 900 700 Verkhnetagilskaya TPP 1497 480 PT 10 Т-150-7,7 LMZ 2000 150 350 TG 01 Т-88(100)-90 LMZ 1956 88 110 GTU 11 V 94.2 Siemens 2000 150 - TG 02 Т-88(100)-90 LMZ 1956 88 110 GTU 12 V 94.2 Siemens 2000 150 - TG 03 Т-88(100)-90 LMZ 1956 88 110 PT 20 Т-150-7,7 LMZ 2006 150 350 TG 04 Т-88(100)-90 LMZ 1957 88 110 GTU 21 V 94.2 Siemens 2006 150 - TG 05 К-100-90 LMZ 1958 100 8 GTU 22 V 94.2 Siemens 2006 150 - TG 06 К-100-90 LMZ 1958 100 8 Ivanovskiye CPP 483 – TPB 07 К-165(200)-130 LMZ 1961 165 12 PT-20 К-110-6.5 LMZ 2012 105 TPB 08 К-165(200)-130 LMZ 1962 165 12 GTU-21 GTE-110 NPO "Saturn" 2012 110 TPB 09 К-205-130 LMZ 1964 205 - GTU-22 GTE-110 NPO "Saturn" 2012 110 TPB 10 К-205-130 LMZ 1964 205 - PT-10 К-110-6.5 LMZ 2007 48 TPB 11 К-205-130 LMZ 1964 205 - GTU-12 GTE-110 NPO "Saturn" 2007 110 Kashirskaya TPP 1910 428 Sochinskaya TPP 158 50 TPB 01 К-300-240 LMZ 1967 300 76 GTU 01 SGT 700 Siemens 2004 28 - TPB 02 К-300-240 LMZ 1967 300 59 GTU 02 SGT 700 Siemens 2004 28 - TPB 03 К-300-240 LMZ 2009 330 59 GTU 03 SGT 700 Siemens 2009 28 - TPB 04 К-300-240 LMZ 1974 300 46 GTU 04 SGT 700 Siemens 2009 28 - TPB 05 К-300-240 LMZ 1975 300 - Turbine Plant of PT 01 Т-10/11-5.2/0.2 Kaluga 2004 11 12.5 TPB 06 К-300-240 LMZ 1975 300 - Turbine Plant of PT 02 Т-10/11-5.2/0.2 Kaluga 2004 11 12.5 TPB 07 PT-80 LMZ 1983 80 188 PT 03 SST-600 Siemens 2009 24 25 2012 2012
ANNUAL REPORT ANNUAL REPORT
Power boilers (by plant) Jet Steam Oper- Parameters Fuel 193 Boiler Boiler Type Manufacturing ation Output, (Brand) Plant ton/hour Jet Steam Fuel Year Oper- Parameters Pressure, Temp, Primary Reserve Starting Plan Boiler Boiler Type Manufacturing ation Output, kgf/cm2 °С (Brand) Plant ton/hour 192 Year Pressure, Temp, Primary Reserve Starting Plan 12 3 4567891011 kgf/cm2 °С 12 3 4567891011 KP 05 TP-240-1 TKZ Taganrog 1955 175 545 240 Coal - Fuel oil Coal Gusinoozyorskaya TPP KP 06 TP-240-1 TKZ Taganrog 1956 175 545 240 Coal - Fuel oil Coal KP 09 TPP-110 TKZ Taganrog 1963 245 545 950 Coal - Fuel oil Coal KP 01 BKZ-640- Barnaul Boiler 1972 140 545 520 Coal Coal Fuel oil Coal 140-PT1 Plant KP 10 TPP-110 TKZ Taganrog 1964 245 545 950 Coal - Fuel oil Coal BKZ-640- Barnaul Boiler APPENDICES KP 02 140-PT1 Plant 1974 140 545 544 Coal Coal Fuel oil Coal KP 11 P-50 ZIO Podolsk 1966 245 545 950 Coal - Fuel oil Coal BKZ-640- Barnaul Boiler Yuzhnouralskaya TPP KP 03 140-PT1 Plant 1975 140 545 520 Coal Coal Fuel oil Coal KP 01 PK-10sh ZIO Podolsk 1952 101 510 230 Coal Coal Fuel oil Coal APPENDICES KP 04 BKZ-640- Barnaul Boiler 1977 being 140-PT1 Plant refurbished KP 02 PK-10sh ZIO Podolsk 1952 101 510 230 Coal Coal Fuel oil Coal KP 05 TPE-215 TKZ Taganrog 1984 140 545 650 Coal Coal Fuel oil Coal KP 03 PK-10sh ZIO Podolsk 1952 101 510 230 Coal Coal Fuel oil Coal KP 06 TPE-215 TKZ Taganrog 1988 140 545 650 Coal Coal Fuel oil Coal Gas, Fuel KP 04 PK-10sh ZIO Podolsk 1953 101 510 230 Coal Gas oil Coal Kostromskaya TPP KP 05 PK-10sh ZIO Podolsk 1953 101 510 230 Coal Gas Gas, Fuel Coal KP 01 TGМP-114 TKZ Taganrog 1969 255 545 950 Gas Fuel oil Gas Fuel oil oil KP 02 TGМP-114 TKZ Taganrog 1969 255 545 950 Gas Fuel oil Gas Fuel oil KP 06 PK-10sh ZIO Podolsk 1954 101 510 230 Coal Coal Fuel oil Coal KP 03 TGМP-114 TKZ Taganrog 1970 255 545 950 Gas Fuel oil Gas Fuel oil Gas, Fuel KP 07 PK-10sh ZIO Podolsk 1954 101 510 230 Coal Gas oil Coal KP 04 TGМP-114 TKZ Taganrog 1970 255 545 950 Gas Fuel oil Gas Fuel oil KP 08 PK-10sh ZIO Podolsk 1954 101 510 230 Coal Gas Gas, Fuel Coal KP 05 TGМP-314 TKZ Taganrog 1971 255 545 950 Gas Fuel oil Gas Fuel oil oil Gas, Fuel KP 06 TGМP-314 TKZ Taganrog 1972 255 545 950 Gas Fuel oil Gas Fuel oil KP 09 PK-10sh ZIO Podolsk 1954 101 510 230 Coal Gas oil Coal KP 07 TGМP-314 TKZ Taganrog 1972 255 545 950 Gas Fuel oil Gas Fuel oil Gas, Fuel KP 10 PK-10sh ZIO Podolsk 1955 101 510 230 Coal Gas oil Coal KP 08 TGМP-314 TKZ Taganrog 1973 255 545 950 Gas Fuel oil Gas Fuel oil KP 11 PK-14 ZIO Podolsk 1956 101 510 230 Coal Coal Fuel oil Coal KP 09 TGМP-1202 TKZ Taganrog 1980 255 545 3950 Gas Fuel oil Gas Fuel oil Gas, Fuel Pechorskaya TPP KP 12 PK-14 ZIO Podolsk 1957 101 510 230 Coal Gas oil Coal TGМЕ- KP 13 PK-14 ZIO Podolsk 1957 101 510 230 Coal Gas Gas, Fuel Coal KP 01 206KhL TKZ Taganrog 1979 140 545 670 Gas Fuel oil Gas Gas oil TGМЕ- KP 14 PK-33 ZIO Podolsk 1961 140 545 640 Gas Gas Gas Coal KP 02 206KhL TKZ Taganrog 1980 140 545 670 Gas Fuel oil Gas Gas KP 15 PK-33 ZIO Podolsk 1961 140 545 640 Gas Gas Gas Coal TGМЕ- KP 03 206KhL TKZ Taganrog 1984 140 545 670 Gas Fuel oil Gas Gas Iriklinskaya TPP TGМЕ- KP 01 KP 04 206KhL TKZ Taganrog 1987 140 545 670 Gas Fuel oil Gas Gas Gas, (two- PK-41-1 ZIO Podolsk 1970 255 545 950 Gas Fuel oil Gas Fuel oil TGМЕ- boiler) KP 05 206KhL TKZ Taganrog 1991 140 545 670 Gas Fuel oil Gas Gas KP 02 Gas, Kharanorskaya TPP (two- PK-41-1 ZIO Podolsk 1970 255 545 950 Gas Fuel oil Gas boiler) Fuel oil Еp-670- KP 03 KP 01 13,8-545 TKZ Taganrog 1995 140 545 670 Coal Coal Fuel oil Coal Gas, (two- TGМP-114 TKZ Taganrog 1971 255 545 950 Gas Fuel oil Gas Fuel oil Еp-670- boiler) KP 02 13,8-545 TKZ Taganrog 2001 140 545 670 Coal Coal Fuel oil Coal KP 04 Gas, Еp-630- (two- TGМP-114 TKZ Taganrog 1972 255 545 950 Gas Fuel oil Gas Fuel oil KP 03 13,8-565BT TKZ Taganrog 2012 140 565 630 Coal Coal Fuel oil Coal boiler) Cherepetskaya TPP Gas, KP 05 TGМP-314 TKZ Taganrog 1972 255 545 1000 Gas Fuel oil Gas Fuel oil KP 01 TP-240-1 TKZ Taganrog 1953 175 545 240 Coal - Fuel oil Coal KP 06 TGМP-314 TKZ Taganrog 1974 255 545 1000 Gas Fuel oil Gas Gas, KP 02 TP-240-1 TKZ Taganrog 1954 175 545 240 Coal - Fuel oil Coal Fuel oil Gas, KP 03 TP-240-1 TKZ Taganrog 1954 175 545 240 Coal - Fuel oil Coal KP 07 TGМPS-314 TKZ Taganrog 1978 255 545 1000 Gas Fuel oil Gas Fuel oil KP 04 TP-240-1 TKZ Taganrog 1955 175 545 240 Coal - Fuel oil Coal Gas, KP 08 TGМP-314 TKZ Taganrog 1979 255 545 1000 Gas Fuel oil Gas Fuel oil 2012 2012
ANNUAL REPORT ANNUAL REPORT
Jet Steam Jet Steam Fuel Oper- Fuel 195 Oper- Parameters Boiler Type Manufacturing Parameters Output, Boiler Boiler Type Manufacturing ation Output, Boiler ation (Brand) Plant ton/hour (Brand) Plant ton/hour Year Year Temp, Pressure, Temp, Primary Reserve Starting Plan Pressure, Primary Reserve Starting Plan kgf/cm2 °С kgf/cm2 °С
194 12 3 4567891011 12 3 4567891011 Permskaya TPP Kashirskaya TPP KP 01 TPP-804 TKZ Taganrog 1986 255 545 2650 Gas Gas Gas Coal KP 01 Ordzhonikidze (two- P-50 Machine Building 1967 255 545 950 Coal Gas Gas Coal KP 02 TPP-804 TKZ Taganrog 1987 255 545 2650 Gas Gas Gas Coal boiler) Plant of Podolsk KP 03 TPP-804 TKZ Taganrog 1990 255 545 2650 Gas Gas Gas Coal KP 02 Ordzhonikidze
(two- P-50 Machine Building 1967 255 545 950 Coal Gas Gas Coal APPENDICES Verkhnetagilskaya TPP boiler) Plant of Podolsk Gas, KP 03 Ordzhonikidze KP 01 PK-14 ZIO Podolsk 1956 103 510 230 Coal Fuel oil Gas Coal (two- P-50Р Machine Building 2009 255 545 1050 Coal Gas Gas Coal boiler) Plant of Podolsk
APPENDICES Gas, KP 02 PK-14 ZIO Podolsk 1956 103 510 230 Coal Fuel oil Gas Coal KP 04 TGМP-314 TKZ Taganrog 1974 255 545 1000 Gas Fuel oil Gas Fuel oil KP 05 TGМP-314 TKZ Taganrog 1975 255 545 1000 Gas Fuel oil Gas Fuel oil KP 03 PK-14 ZIO Podolsk 1956 103 510 230 Coal Gas, Gas Coal Fuel oil KP 06 TGМP-314 TKZ Taganrog 1975 255 545 1000 Gas Fuel oil Gas Fuel oil KP 04 PK-14 ZIO Podolsk 1956 103 510 230 Coal Gas, Gas Coal BKZ-320- Barnaul Boiler Fuel oil KP 07А 140GM Plant 1983 140 545 320 Gas Fuel oil Gas Fuel oil KP 05 PK-14 ZIO Podolsk 1956 103 510 230 Coal Gas, Gas Coal BKZ-320- Barnaul Boiler Fuel oil KP 07Б 140GM Plant 1987 140 545 320 Gas Fuel oil Gas Fuel oil Gas, Urengoyskaya TPP KP 06 PK-14-Р ZIO Podolsk 1956 103 510 230 Coal Fuel oil Gas Coal Gas, KP 01 BKZ-75-39 Barnaul Boiler 1990 39 440 75 Gas Gas Gas Gas, KP 07 PK-14-Р ZIO Podolsk 1957 103 510 230 Coal Fuel oil Gas Coal GMA Plant Fuel oil Gas, KP 02 BKZ-75-39 Barnaul Boiler 1992 39 440 75 Gas - - - KP 08 PK-14-Р ZIO Podolsk 1957 103 510 230 Coal Fuel oil Gas Coal GMA Plant Gas, E-229/50.2- KP 09 PK-14-Р ZIO Podolsk 1957 103 510 230 Coal Fuel oil Gas Coal KU 01 7.85/0.59- TKZ Taganrog 2012 84,66 507 229 - - - - 507/227 Gas, KP 10 PK-14-Р ZIO Podolsk 1958 103 510 230 Coal Fuel oil Gas Coal E-229/50.2- KU 02 7.85/0.59- TKZ Taganrog 2012 84,66 507 229 - Gas, 507 KP 11 PK-14-Р ZIO Podolsk 1958 101 510 230 Coal Fuel oil Gas Coal Kaliningradskaya TPP-2 Gas, KP 12 PK-14-Р ZIO Podolsk 1958 101 510 230 Coal Fuel oil Gas Coal KU 11 P-96 ZIO Podolsk 2005 77,5 510 277 – – – – KU 12 P-96 ZIO Podolsk 2005 77,5 510 277 – – – – KP 13 PK-14-Р ZIO Podolsk 1959 101 510 230 Coal Gas, Gas Coal Fuel oil KU 21 PK-63 ZIO Podolsk 2010 77,5 510 277 – – – – Gas, KU 22 PK-63 ZIO Podolsk 2010 77,5 510 277 – – – – KPB 14 PK-33-83SP ZIO Podolsk 1961 141 545 495 Coal Fuel oil Gas Coal Severo-Zapadnaya TPP Gas, KPB 15 PK-33-83SP ZIO Podolsk 1962 141 545 495 Coal Fuel oil Gas Coal KU 11 P-90 ZIO Podolsk 2000 80 515 298 – – – – KU 12 P-90 ZIO Podolsk 2000 80 515 298 – – – – KPB PK-47 ZIO Podolsk 1964 141 545 320 Gas Fuel oil Gas Gas 16А KU 21 P-90 ZIO Podolsk 2006 80 515 298 – – – – KPB KU 22 P-90 ZIO Podolsk 2006 80 515 298 – – – – 17А PK-47-1 ZIO Podolsk 1964 141 545 320 Gas Fuel oil Gas Gas Ivanovskiye CPP KPB PK-47-1 ZIO Podolsk 1964 141 545 320 Gas Fuel oil Gas Gas 18А Е-148/35- KPB KU 21 6.7/0.6- ZIO Podolsk 2012 67.90 534 148 – – – – 16B PK-47 ZIO Podolsk 1964 141 545 320 Gas Fuel oil Gas Gas 493/229 KPB Е-148/35- 17B PK-47-1 ZIO Podolsk 1964 141 545 320 Gas Fuel oil Gas Gas KU 22 6.7/0.6- ZIO Podolsk 2012 67.90 534 148 – – – – 493/229 KPB 18B PK-47-1 ZIO Podolsk 1964 141 545 320 Gas Fuel oil Gas Gas Sochinskaya TPP KU-1 P-103 ZIO Podolsk 2004 55 485 47.7 – – – – KU-2 P-103 ZIO Podolsk 2004 55 485 47.7 – – – – KU-31 PK-58 ZIO Podolsk 2009 54 485 49 – – – – KU-32 PK-58 ZIO Podolsk 2009 54 485 49 – – – – 2012 2012
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Water Boilers (by electric power plant) Excitation System Type
Opera- Voltage, Capacity, 197 Plant No. Type (Brand) Manufacturing Plant tion Year kV MW Heat carrying agent Primary Reserve parameters Fuel 12 34567 8 Boiler Boiler Type Manufacturing Opera- Output,
196 (Brand) Plant tion Year Pressure, Gcal/hour Kostromskaya TPP kgf/cm2 Temp, °С Primary Reserve Plan G-01 TVV-320-2 Elektrosila, St. 1969 20.00 320.00 VGТ-4500-500 GPS-3000- Kharanorskaya TPP Petersburg 500 Elektrosila, St. GPS-3000- Dorogobuzh G-02 TVV-350-2UZ Petersburg 1969 20.00 350.00 VGТ-4500-500 500 KVG 01 PTВМ-30М Boiler Plant 2011 25 150 35 Fuel oil Fuel oil Fuel oil G-03 TVV-320-2 Elektrosila, St. 1970 20.00 320.00 VGТ-4500-500 GPS-3000- KVG 02 PTВМ-30М Dorogobuzh 2011 25 150 35 Fuel oil Fuel oil Fuel oil Petersburg 500 Boiler Plant APPENDICES Elektrosila, St. SBD-500-3200- Dorogobuzh G-04 TVV-350-2UZ Petersburg 1970 20.00 350.00 2UKHL4 - KVG 03 PTВМ-30М Boiler Plant 2012 25 150 35 Fuel oil Fuel oil Fuel oil Elektrosila, St. GPS-3000- Permskaya TPP G-05 TVV-320-2UZ Petersburg 1971 20.00 320.00 VGТ-4500-500 500 APPENDICES Barnaul Boiler Fuel oil, G-06 TVV-320-2 Elektrosila, St. 1972 20.00 320.00 VGТ-4500-500 GPS-3000- KVG 01 KVGМ-100 Plant 1980 22 150 100 Gas Fuel oil gas Petersburg 500 Belgorod Boiler Fuel oil, G-07 TVV-320-2 Elektrosila, St. 1972 20.00 320.00 VGТ-4500-500 GPS-3000- KVG 02 KVGМ-100 Plant 1982 22 150 100 Gas Fuel oil gas Petersburg 500 Urengoyskaya TPP Elektrosila, St. GPS-3000- G-08 TVV-320-2 Petersburg 1973 20.00 320.00 VGТ-4500-500 500 Dorogobuzh Fuel oil, KVG 01 KVGМ-100 Boiler Plant 1991 25 150 100 Gas Gas gas Elektrosila, St. SBD-500-3200- G-09 TVV-1200-2UZ Petersburg 1980 24.00 1 200.00 2UKHL4 - Dorogobuzh Fuel oil, KVG 02 KVGМ-100 Boiler Plant 1991 25 150 100 Gas Gas gas Pechorskaya TPP Dorogobuzh Kharkov VTS-460*2/2-3200/ АС 32-17- KVG 04 KVGМ-50 Boiler Plant 1987 25 150 50 Fuel oil Fuel oil Fuel oil G-01 TGV-200 М Electromechanical 1979 15.75 210.00 61-6UZ, VT Plant (96+24) 174-74 Dorogobuzh KVG 05 KVGМ-50 Boiler Plant 1988 25 150 50 Fuel oil Fuel oil Fuel oil Kharkov АС 32-17- G-02 TGV-200 М Electromechanical 1980 15.75 210.00 VTS-460*2/2-3200/ 61-6UZ, VT Ivanovskiye CPP Plant (96+24) 174-74 DE-10- Biysk Boiler Kharkov АС 32-17- KVG 01 1,4GM-2 Plant 2000 13,0 194 5.7 Gas Fuel oil Fuel oil VTS-460*2/2-3200/ G-03 TGV-200 М Electromechanical 1984 15.75 210.00 (96+24) 61-6UZ, Е-50-1,4 Belgorod Boiler Plant VT 174-74 KVG 02 225GM Plant 2001 13,0 225 29.3 Gas Fuel oil Fuel oil Kharkov STS-460*2/2- АС 32-17- G-04 TGV-200 2М Electromechanical 1987 15.75 215.00 61-6UZ, Е-50-1,4 Belgorod Boiler Plant 3200/48 VT 174-74 KVG 03 225GM Plant 2001 13,0 225 29.3 Gas Fuel oil Fuel oil Kharkov АС 32-17- G-05 TGV-200 2М Electromechanical 1991 15.75 215.00 STS-550-2250-2,5 61-6UZ, Generators (by electric power plant) Plant UKHL4 VT 174-74 Kharanorskaya TPP Excitation System Type Opera- Voltage, Capacity, Elektrotyazhmash, SТSТМP2-500-2220- Plant No. Type (Brand) Manufacturing Plant tion Year kV MW G-01 TGV-200-2МUZ 1995 15.75 220.00 STSR Primary Reserve Kharkov 2,5UKHL4 SТSТМP2-500-2220- 12 34567 8 Elektrotyazhmash, G-02 TGV-200-2МUZ Kharkov 2001 15.75 220.00 2,5UKHL4 ООО STSR Gusinoozyorskaya TPP «SKB ETSM» Elektrotyazhmash, VTS 460X2/2 Elektrosila, St. STS- G-01 TGV-200М Kharkov 1976 15.75 200.00 3200/96+24 U4 VT 174-7К G-03 TZFP-220-2UЗ 2012 15.75 225.00 2P-270-3200-2,5; - Petersburg AVR-2M Elektrotyazhmash, STS-550-2250-2,5 G-02 TGV-200-2МUZ Kharkov 1977 15.75 220.00 UKHL-4 VT 174-7К Cherepetskaya TPP Elektrotyazhmash, VTS 460X2/2 G-01 ТV2-150-2 Elektrosila, St. 1962 18.00 150.00 VT-300-3000 GP-300- G-03 ТUV-200М Kharkov 1978 15.75 200.00 3200/96+24 U4 VT 174-7К Petersburg 1000 Elektrotyazhmash, G-02 ТV2-150-2 Elektrosila, St. 1954 18.00 150.00 VT-300-3000 GP-300- G-04 TGV-200-2МUZ Kharkov 1979 15.75 220.00 Reconstruction VT 174-7К Petersburg 1000 Elektrotyazhmash, STS 495х2/ 3660/144 G-03 ТV2-150-2 Elektrosila, St. 1956 18.00 150.00 VT-300-3000 GP-300- G-05 TGV-200-2МUZ Kharkov 1988 15.75 220.00 UKHL-4 VT 174-7К Petersburg 1000 Elektrotyazhmash, STS-550-2250-2,5 G-05 TVV-320-2U3 Elektrosila, St. 1981 20.00 300.00 VGТ-4500-500 GPS-3000- G-06 TGV-200-2МUZ Kharkov 1992 15.75 220.00 UKHL-4 VT 174-7К Petersburg 750 Elektrosila, St. GPS-3000- G-06 TVV-320-2 Petersburg 1964 20.00 300.00 VGТ-4500-500 750 Elektrosila, St. GPS-3000- G-07 TVV-320-2 Petersburg 1966 20.00 300.00 VGТ-4500-500 750 2012 2012
ANNUAL REPORT ANNUAL REPORT
Excitation System Type Opera- Voltage, Capacity, Excitation System Type Opera- Voltage, Capacity, Plant No. Type (Brand) Manufacturing Plant 199 Plant No. Type (Brand) Manufacturing Plant tion Year kV MW tion Year kV MW Primary Reserve Primary Reserve 12 34567 8 12 34567 8
198 Yuzhnouralskaya TPP DAZ-1818-8, G-05 ТVM-300 Sibelektrotyazh- 1975 20.00 300.00 VTS-2gr-282-4420- VTМ-1400- Elektrosila, St. GP-300- mash, Novosibirsk UKHL4 750 G-02 ТV-50-2 Petersburg 1952 10.50 50.00 VT-170-3000 1000 Sibelektrotyazh- VTS-2gr-282-4420- DAZ-1818-8, G-03 ТV-50-2 Elektrosila, St. 1952 10.50 50.00 VT-170-3000 GP-300- G-06 ТVM-300 1975 20.00 300.00 VTМ-1400- Petersburg 1000 mash, Novosibirsk UKHL4 750 G-04 ТV-50-2 Elektrosila, St. 1953 10.50 50.00 VT-170-3000 GP-300- DAZ-1818-8, Petersburg 1000 G-07 ТVF-120-2UZ Sibelektrotyazh- 1983 10.50 100.00 SND-310-1900- VTМ-1400- mash, Novosibirsk 2UKHL4 750 APPENDICES G-05 ТV-2-100-2 Elektrosila, St. 1953 13.80 100.00 VT-300-3000 GP-300- Petersburg 1000 Verkhnetagilskaya TPP G-06 ТV-2-100-2 Elektrosila, St. 1954 13.80 100.00 VT-300-3000 GP-300- Elektrosila, St. GP-300- Petersburg 1000 G-01 ТV2-100-2 Petersburg 1956 13.80 105.00 VT-300-3000 1000 APPENDICES G-07 ТV-2-100-2 Elektrosila, St. 1956 13.80 100.00 VT-300-3000 GP-300- Elektrosila, St. STS-370-800-2,5 GP-300- Petersburg 1000 G-02 ТV2-100-2 Petersburg 1956 13.80 105.00 UKHL4 1000 G-08 ТV-2-100-2 Elektrosila, St. 1956 13.80 100.00 VT-300-3000 GP-300- Elektrosila, St. GP-300- Petersburg 1000 G-03 ТV2-100-2 Petersburg 1956 13.80 110.00 VT-300-3000 1000 G-09 ТV2-200-2 Elektrosila, St. 1961 11.00 200.00 VGТ-2500-500 GP-300- Elektrosila, St. GP-300- Petersburg 1000 G-04 ТV2-100-2 Petersburg 1957 13.80 110.00 VT-300-3000 1000 G-10 ТV2-200-2 Elektrosila, St. 1961 11.00 200.00 VGТ-2500-500 GP-300- Elektrosila, St. GP-300- Petersburg 1000 G-05 ТV2-100-2 Petersburg 1958 13.80 110.00 VT-300-3000 1000 Iriklinskaya TPP G-06 ТV2-100-2 Elektrosila, St. 1955 13.80 105.00 VT-300-3000 GP-300- Elektrosila, St. GPS-3000- Petersburg 1000 G-1 TVV-320-2 Petersburg 1981 20.00 300.00 EPA-325V 750 G-07 TGV-200 Elektrotyazhmash, 1961 15.75 150.00 STS-550-2250-2,5- VT 99/47-7 Elektrosila, St. GPS-3000- Kharkov UKHL4 G-2 TVV-320-2 Petersburg 1976 20.00 300.00 EPA-325V 750 G-08 TGV-200 Elektrotyazhmash, 1962 15.75 150.00 STS-550-2250-2,5- VT 99/47-7 Elektrosila, St. GPS-3000- Kharkov UKHL4 G-3 TVV-320-2 Petersburg 1981 20.00 300.00 EPA-325V 750 G-09 TGV-200-2UZ Elektrotyazhmash, 2007 15.75 200.00 STS-550-2250-2,5- VT 99/47-7 Elektrosila, St. GPS-3000- Kharkov UKHL4 G-4 TVV-320-2 Petersburg 1972 20.00 300.00 EPA-325V 750 Elektrotyazhmash, STS-550-2250-2,5- VT 99/47-7 G-10 TGV-200 Kharkov 1964 15.75 200.00 UKHL4 G-5 TVV-320-2 Elektrosila, St. 2007 20.00 300.00 EPA-325V GPS-3000- Petersburg 750 Elektrotyazhmash, VTS460x2/2- G-11 TGV-200 Kharkov 1964 15.75 200.00 3200/96+24 VT 99/47-7 G-6 TVV-320-2 Elektrosila, St. 1974 20.00 300.00 EPA-500V GPS-3000- Petersburg 750 Urengoyskaya TPP Elektrosila, St. GPS-3000- G-1 Т-12-2UZ JSC Privod, Lysva 1992 6.30 12.00 BVUG-21U3 - G-7 TVV-320-2 Petersburg 1978 20.00 300.00 КОSUR-50-1-00 750 G-2 Т-12-2UZ JSC Privod, Lysva 1990 6.30 12.00 BVUG-21U3 - Elektrosila, St. GPS-3000- G-8 TVV-320-2 Petersburg 1979 20.00 300.00 EPA-500V 750 660/1650R; Semipol; 1G-1GТ SGen 5А-100-2R Siemens 2012 15.75 160.00 Converteam GmbH - Permskaya TPP 660/1650R; Semipol; Elektrosila, St. ГПС-5200- 1G-2GТ SGen 5А-100-2R Siemens 2012 15.75 160.00 Converteam GmbH - G-01 TZV-800-2U3 Petersburg 1986 24.00 800.00 STN-480-5500-2 375-У3 TZFP-160- Elektrosila, St. 660/1650R; Semipol; Elektrosila, St. STN-480-5500-2 GPS-5200- 1G-PT 2МUZ Petersburg 2012 15.75 160.00 Converteam GmbH - G-02 ТZV-800-2UZ Petersburg 1987 24.00 800.00 UKHL4 375-U3 Ivanovskiye CPP Elektrosila, St. STN -1В-470-5650-2 GPS-5200- G-03 ТZV-800-2UZ Petersburg 1990 24.00 800.00 UKHL4 375-U3 KVsgOS-VE-250-2100-D22-4 GP-2 ТТК-110-2UZ-P JSC Privod, Lysva 2012 10.50 110.00 UKHL4 Kashirskaya TPP KVsgOS-VE-250-2100-D22-4 DAZ-1818-8, G-3 ТТК-110-2UZ-G JSC Privod, Lysva 2012 10.50 110.00 UKHL4 G-01 TVV-350-2UZ Elektrosila, St. 1995 20.00 350.00 SND-310-3000- VTМ-1400- Petersburg UKHL4 750 KVsgOS-VE-250-2100-D22-4 G-4 ТТК-110-2UZ-G JSC Privod, Lysva 2012 10.50 110.00 UKHL4 DAZ-1818-8, Elektrosila, St. SND-310-3000- Kaliningradskaya TPP-2 G-02 TVV-350-2UZ Petersburg 1994 20.00 350.00 UKHL4 VTМ-1400- 750 Elektrosila, St. G-10 ТZFP-160-2МUZ Petersburg 2005 15.75 160.00 STS-2P-270-1900-2,5 UKHL4 Электросила, STSN-R- 2P-340/34- Г-03 ТЗФСУ-320-2УЗ г. С.-Петербург 2009 20.00 320.00 3600/2600-2,5 Elektrosila, St. UKHL4 G-11 ТFZG-160-2МUZ Petersburg 2005 15.75 160.00 STSN-2P-270-1900-2,5 UKHL4 Sibelektrotyazh- VTS-2gr-282-4420- DAZ-1818-8, Elektrosila, St. G-04 ТVM-300 1974 20.00 300.00 VTМ-1400- G-12 ТZFG-160-2МUZ Petersburg 2005 15.75 160.00 STSN-2P-270-1900-2,5 UKHL4 mash, Novosibirsk UKHL4 750 2012 2012
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Opera- Voltage, Capacity, Excitation System Type
CONTACTS FOR PRESS 201 Plant No. Type (Brand) Manufacturing Plant tion Year kV MW Primary Reserve CONTACTS Information Policy Department, LLC INTER RAO 12 34567 8 – Electricity Generation Management:
200 Elektrosila, St. G-20 ТZFP-160-2МUZ Petersburg 2010 15.75 160.00 STS-2P-270-1900-2,5 UKHL4 COMPANY DETAILS Head of Department: Elektrosila, St. Oktyabrina Mikhailovna Ermakova G-21 ТZFG-160-2МUZ Petersburg 2010 15.75 160.00 STSN-2P-270-1900-2,5 UKHL4 Legal address: Bldg. 1, 27, Elektrosila, St. B. Pirogovskaya St., 119435 Phone: +7 (495) 967-05-27 (ext. 2839) G-22 ТZFG-160-2МUZ Petersburg 2010 15.75 160.00 STSN-2P-270-1900-2,5 UKHL4 Severo-Zapadnaya TPP Postal address: Bldg. 1, 27, e-mail: [email protected] APPENDICES ТZFG-160- Elektrosila, St. B. Pirogovskaya St., 119435 G-1 2МUЗ Petersburg 2002 15.75 160.00 STS-2Е-270-1900-2,5 UKHL4 Phone: +7(495)664-76-80 COMPANY AUDITOR G-2 ТFG-160-2UЗ Elektrosila, St. 2000 15.75 160.00 ERR550/2900 - Petersburg Limited Liability Company Ernst&Young is the
APPENDICES Fax: +7 (495) 664-76-84 Elektrosila, St. G-3 ТFP-160-2UЗ 2000 15.75 160.00 ERR550/2900 - Company’s Auditor. Petersburg Taxpayer ID: 7704784450 G-4 ТZFP-160-2МUZ Elektrosila, St. 2006 15.75 160.00 STS-2P-270-1900-2,5 UKHL4 Address: Bldg. 1, 77 Sadovnicheskaya St., Petersburg KPP 770401001/997450001 (for invoices), Elektrosila, St. Moscow, 115035 G-5 ТZFG-160-2МUZ Petersburg 2006 15.75 160.00 ERR550/2900 - Primary State Registration Number Auditor’s contact: G-6 ТZFG-160-2МUZ Elektrosila, St. 2006 15.75 160.00 ERR550/2900 - 1117746460358 Petersburg (495) 705-97-00 Sochinskaya TPP Bank details: Information on Auditor’s license: No.002138 dd. AMS 1120LK ABB Motors AB, FMVC Account number: 40702810492000004152 01GTU-1 2004 11.00 26.20 GLA600D 30.09.2002, issued by Ministry of Finance of the 98.35 Sweden AVR160 Correspondent account: ТАP-12-2 KUZ Elektrosila, St. Russian Federation. 02PTU-1 98.2 Petersburg 2004 10.50 12.00 SBD-120-320-2UKHL4 30101810200000000823 in GPB (OJSC) FMVC 03GTU-2 AMS 1120LK ABB Motors AB, 2004 11.00 26.20 GLA600D 98.35 Sweden AVR160 COMPANY REGISTRAR CONTACTS FOR ОJSC Registrator R.O.S.T. 04PTU-2 ТАP-12-2 KUZ Elektrosila, St. 2004 10.50 12.00 SBD-120-320-2UKHL4 98.2 Petersburg SHAREHOLDERS is the Company’s Registrar. ABB Motors AB, FMVC 05GTU-3 AMS 1120A LK Sweden 2009 11.00 26.20 GLA600D Corporate Procedures Department, LLC INTER Location: UNITROL 1000-7 RAO – Electricity Generation Management: ABB Motors AB, FMVC 13, 18 Stromynka St., Moscow, 107996 06GTU-4 AMS 1120A LK 2009 11.00 26.20 GLA600D Head of Department: Sweden UNITROL 1000-7 Postal address: PO Box 9, 18 Stromynka St., Mikhail Mikhailovich Davydov CONVERTEAM FMVC Moscow, 107996 CONVERTEAM Ltd, MAJ39M 07GTU-5 Ltd., 4-pole Great Britain 2009 10.50 25.00 Phone: +7 (495) 664-76-80 (ext. 2906) synchronous DIGUREG Registrar’s phone: (495)771-73-35, e-mail: [email protected] 8-800-700-04-88