Annual Report 2012 OAO IRKUTSKENERGO ANNUAL REPORT-2012
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Annual report 2012 OAO IRKUTSKENERGO ANNUAL REPORT-2012 Content Address to the Shareholders of OAO Irkutskenergo Board of Directors Chairman 6 Investment Activities 67 Address to the Shareholders of OAO Irkutskenergo CEO 9 Capital Investment Development by Programs 68 OAO Irkutskenergo General Description 11 Investment Plan Implementation by Programs 69 General Information 12 Investment Plan Implementation by Sectors 72 Key Operations 13 Human Resources and Social Policy 73 Results and Prospects of the Company by Business Priorities 15 Personnel Management 74 Aims and Objectives – 2012 16 Investment in Personnel 75 Board of Directors and General Meetings of Shareholders Main Decisions 19 Social Policy 76 Main Results 23 Subsidiaries and Affiliates Activity 79 Company Management 25 Information Technologies 81 Corporate Management 26 Environmental Activities 83 Long-term Investments 32 Irkutskenergo Environmental Performance – 2012 84 Share Capital 35 Environmental Payments 85 Capital and Allotment of Shares 36 Environmental Protection Costs 85 Shareholders’ Equity Structure 38 Standardization and Optimization of Business Processes 87 Stock Market and Dividends 39 Legal Relations 91 Markets and Sales Organization 41 Risk Management 93 Structure of Major Commodity Products Sales 42 Financial and Economic Activity 95 Heat Energy Sales 43 Key Financial and Economic Indicators 96 Electric Energy Sales 46 Financial Situation Analysis 99 Tariffs and Tariff Policy 48 Loan Portfolio Analysis 102 Production 53 Appendixes 105 Production Capacities Details 54 OAO Irkutskenergo Balance Sheet 106 Production Plan 56 OAO Irkutskenergo Financial Results Report-2012 108 Production Efficiency Improvement Program 59 Audit Report 109 Procurement 61 Corporate Code of Behavior Compliance 112 Consumables and Spare Parts 62 Related Party Transactions, Approved by OAO Irkutskenergo Governing Bodies 120 Fuel 63 Services 65 2 3 OAO IRKUTSKENERGO ANNUAL REPORT-2012 Abbreviations ADR American Depositary Receipts LS Logistic Support AR Accounts receivables M&E Materials and equipment BHPP Bratsk HPP MICEX Moscow Interbank Currency Exchange, Stock Exchange BM Balancing Market MPE Managers, professionals, employees BS Baltic System MPP Mining and Processing Plant CA Capital assets M&R Maintenance and repair CI Capital investments MUE Municipal Unitary Enterprise CCN Corporate computer network NRBC Non-regulated bilateral contract CCS Competitive capacity selection NRECPSC Non-regulated electricity and capacity purchase and sale contracts CDW 1) Chemically desalinated water NSNCEI Irkutskenergo TU Non-state Non-commercial Educational Institution OAO Irkutskenergo Training CPW 2) Chemically purified water Unit CIP Construction in progress NI TPP Novo-Irkutsk TPP CIW Construction and installation work NIHBR Northern industrial hub boiler room C&M Commodities and materials NPV Net present value CMS Corporate management system NZ TPP Novo-Ziminskaya TPP DAM Day-ahead market PIMCU OAO Priargunsky Industrial Mining and Chemical Union, Joint Stock Company DBS District boiler stations PEIP Production Efficiency Increase Program DLS Distance Learning System PRDS Pressure-reducing desuperheating station EB Executive Board R&D Research and development EBWD Eniseisk Basin Water Directorate RECPSC Regulated electricity and capacity purchase and sale contracts EDMS Electronic Document Management System S&A Subsidiaries and affiliates ES Enterprise standards SF Salary Fund FCSMRussia Federal Committee for the Securities Market TPOP Total production optimization program FM Generating capacity functioning in forced mode TPP Thermal power plant FTS Federal Tariff Service TS Tariff service GPB OAO Gazprombank, Joint Stock Company UES Siberia Unified Energy System of Siberia HCFF Housing Construction and Facilitate Fund UESO Unified Energy System Operator HUS Housing and Utility Services UDCC Siberia United Dispatch Control Centre of Siberian Power Systems HPP Hydroelectric Power plant UIAS United Information and Analysis System IESC OOO Irkutsk Electrosetevaya Company (Irkutsk Electric Grid Company), Joint Stock UI HPP Ust-Ilimsk Hydro Power Plant Company UI TPP Ust-Ilimsk Thermal Power Plant IESbC OOO Irkutsk Energosbyt (Energosbytovaya) Company, Limited Liability Company VHI Voluntary Health Insurance IFRS International Financial Reporting Standards WECM Wholesale electricity and capacity market IHPP Irkutsk HPP WEM Wholesale electricity market ISTU Irkutsk National Research State Technical University LBFR Lead-bismuth-cooled fast reactor 4 5 OAO IRKUTSKENERGO ANNUAL REPORT-2012 Address to the Shareholders of Andrey the compliance of its management system quality with the international standard ISO 9001 requirements. Appropriate surveillance audit was conducted by TOV 500 Management Ser- Likhachev, OAO Irkutskenergo Board vice GmbH – one of the world leaders in the field of certification of Directors Chairman Under the strategy of diversifying the business, OOO Irkutskenergosvyaz, an OAO Irkutsken- ergo subsidiary, developed a project of the region’s largest Data Processing Center (DPC), Dear shareholders, which will be the fifth DPC with standard of fault tolerance Tier III in Russia. This is OAO Irkutskenergo Annual Report on the re- Due to the energy efficiency of the project and the low price of electricity in the region, the sults of its activity in 2012. In the course of the year, to cost of data center services will be lower than the current one in the field. Such projects improve OAO Irkutskenergo and expand the horizons make it possible for the Company to remain in the trend of modern business, generate addi- of the Company’s business were the main aims of the tional income to shareholders and accelerate the creation of new points of economic growth activity of both the Board of Directors and the Man- in East Siberia. agement Body. Electric power industry remains our top priority, and the increase of these area indicators 2012 was the starting point of the housing construction project (within the frames of tenders testifies to the success of the Company. Detailed data of the Housing Construction Development Fund). During last year, ZAO SibirEnergoTrade, Andrey Likhachev, is presented in the Report. I would just note that due OAO Irkutskenergo subsidiary, managed to advance from the marketing concept of con- OAO Irkutskenergo to the advanced total energy consumption in Siberia struction plots in the suburbs of Irkutsk to real projects on planning construction in these Board of Directors Chairman and the modernization of the equipment, the elec- areas. The company has started preparing four plots in Irkutsk Rayon for construction; it is tric power production increased by 2.7% (60.9 billion 530 000 m2 of low-rise housing, including 473 000 m2 of economic class. Development of the kWh) last year. In turn, the implementation of major project will provide housing for up to 17 500 people. investment projects and the simultaneous produc- The company realizes its responsibility for the Siberian region. Within the framework of tion capacity growth made it possible to increase the charitable assistance, OAO Irkutskenergo has collaborated with the Irkutsk Branch of the available capacity of OAO Irkutskenergo TPPs. Thus, Russian Children’s Fund. We appreciate the long-standing partnership and support several since 2007, it has increased by 310 MW. The accumu- charity programs of the Fund. What is more, the Company participated actively in the im- lated potential and the Company’s resource base is plementation of social and environmental projects. Environmental campaigns to clean the the reason to consider new growth prospects. Due to shores of Lake Baikal, educational and charitable activities were carried outon the Water the unique infrastructure and established investment Day; ongoing assistance in the field of culture, health and sports was provided last year. In management capabilities, we think over not only ef- particular, OAO Irkutskenergo is still the sole founder of the large-scale and socially im- fective projects in the power sector, but also in related portant non-profit organizations: Baikal-Energy, Hockey Club and NSNCEI Irkutskenergo TU. industries. The Company supported the restoration of Ilim Ostrog (Strong) (Irkutsk Oblast), the unique For example, in 2012, the Company performed a great reconstructed wooden fortress with original elements of XVII century. job in the research area. The key focus of the innova- Thus, Company is developing and sets new ambitious goals, but energy and environmental tive program is the working out technologies to create security, energy and budget efficiency and professional development of the personnel are in the industrial design of a low-capacity lead-bismuth the focus of its operation. cooled fast reactor (RU SVBR) and subsequent com- mercialization of this technology. New directions of activity and implementation of ambitious goals can become true only thanks to organized team of professionals, so the employees are the main value of the Com- The project includes not only the development and pany. Health and safety, professional development and health promotion have always been putting into operation a pilot plant unit (OPEB), but also and still remain the priority of the Company. start-up of reactor facilities and nuclear power plants. Personnel training anddevelopment are essential for achieving high productivity and the OAO AKME-Engineering, the parity-basis sharehold- staff’s professional growth. The company provides