October 19, 2021. Moscow,
Russia. PJSC
RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY)
announces operating results for the 3rd
quarter of 2021, of the parent company and subsidiaries of RusHydro
Group reflected in consolidated financial statements.
Strong
output in 3Q 2021 following hydropower production growth, 9M results
slightly below year-on-year on the back of high base effect.
Key
highlights of 3Q 2021:
35,794
GWh - total electricity generation by RusHydro Group including
Boguchanskaya hydropower plant (+2.1%)1;
27,802
GWh - electricity output by hydro and pumped storage plants excl.
Boguchanskaya HPP (+10.1%);
4,788
GWh – electricity output from thermal power plants (-12.2%);
2,047
thousand Gcal/h – heat output from thermal power plants in the Far
Eastern Federal District (-4.9%);
8,324
GWh – sales by Group’s electricity retail companies in (+1.8%
y-o-y).
Key
highlights of 9M 2021:
108,942
GWh - total electricity generation by RusHydro Group including
Boguchanskaya hydropower plant (-3.5%);
77,254
GWh - electricity output by hydro and pumped storage plants excl.
Boguchanskaya HPP (-3.5%);
18,853
GWh – electricity output from thermal power plants (-3.0%);
19,931
thousand Gcal/h – heat output from thermal power plants in the Far
Eastern Federal District (+4.2%);
29,577
GWh – sales by Group’s electricity retail companies in (+3.2%
y-o-y).
Electricity
generation by the plants of RusHydro Group, GWh
|
3Q'21
|
3Q'20
|
chg, %
|
9M'21
|
9M'20
|
chg, %
|
Center of Russia
|
8,539
|
9,562
|
-10.7%
|
29,700
|
38,321
|
-22.5%
|
South of Russia and North Caucasus
|
2,409
|
2,029
|
18.8%
|
6,135
|
5,310
|
15.5%
|
Siberia
|
11,287
|
9,276
|
21.7%
|
26,087
|
22,864
|
14.1%
|
Total for the price zones
|
22,235
|
20,866
|
6.6%
|
66,496
|
61,922
|
7.4%
|
Far East
|
5,237
|
3,997
|
31.0%
|
13,711
|
11,933
|
14.9%
|
RAO ES East
|
5,210
|
5,928
|
-12.1%
|
20,787
|
21,341
|
-2.6%
|
TOTAL
|
32,682
|
30,792
|
6.1%
|
96,421
|
99,769
|
-3.4%
|
incl. by HPPs, PSPPs2
|
27,802
|
25,246
|
10.1%
|
77,254
|
80,019
|
-3.5%
|
incl. by TPPs and other
|
4,788
|
5,455
|
-12.2%
|
18,853
|
19,433
|
-3.0%
|
Incl. by alt. renewables (geothermal, solar, wind)
|
91
|
90
|
0.9%
|
312
|
316
|
-1.3%
|
Boguchanskaya HPP3
|
3,112
|
4,253
|
-26.8%
|
12,521
|
13,096
|
-4.4%
|
The underlying factors of the production change in
January-September 2021 were:
water inflows to the reservoirs of the
Volga-Kama cascade at the normal level or slightly below;
water inflows to the reservoirs in
Siberia, Far East and Northern Caucasus above the normal level;
increase of electricity consumption in the
Far East by 4.7%
increase of heat output in the Far East
driven by weather conditions.
Heat
output by thermal plants of RAO ES of the East Subgroup, ‘000 GCal
|
3Q'21
|
3Q'20
|
Chg.
|
9M'21
|
9M'20
|
Chg.
|
JSC DGK incl.
|
1,398
|
1,525
|
-6.8%
|
13,998
|
13,390
|
4.5%
|
Primorye power system
|
243
|
327
|
-25.7%
|
2,787
|
2,709
|
2.9%
|
Khabarovsk power system
|
843
|
857
|
-1.6%
|
7,679
|
7,359
|
4.3%
|
Amur power system
|
185
|
205
|
-9.9%
|
1,641
|
1,552
|
5.8%
|
South Yakutsk power district
|
128
|
136
|
-6.2%
|
1,322
|
1,199
|
10.3%
|
JSC RAO ES East (CHPP Vostochnaya)
|
70
|
52
|
34.2%
|
569
|
572
|
-0.5%
|
PJSC Yakutskenergo
|
182
|
186
|
-2.3%
|
1,703
|
1,584
|
7.6%
|
UES of East
|
1,651
|
1,764
|
-6.4%
|
15,702
|
14,974
|
4.9%
|
Yakutsk power system incl.
|
57
|
53
|
8.1%
|
845
|
733
|
15.3%
|
JSC Sakhaenergo
|
3
|
3
|
-5.5%
|
40
|
43
|
-6.9%
|
JSC Teploenergoservice
|
54
|
50
|
8.9%
|
805
|
690
|
16.7%
|
Kamchatka power system incl.
|
137
|
128
|
7.2%
|
1 304
|
1 339
|
-2.6%
|
PJSC Kamchatskenergo
|
133
|
124
|
7.8%
|
1 253
|
1 289
|
-2.7%
|
JSC KSEN
|
4
|
4
|
-9.1%
|
51
|
35
|
46.5%
|
Magadan power system
|
101
|
108
|
-6.9%
|
861
|
831
|
3.5%
|
Chukotka AO power system
|
46
|
40
|
13.2%
|
277
|
292
|
-5.0%
|
Sakhalin power system
|
55
|
59
|
-5.8%
|
943
|
954
|
-1.1%
|
Isolated power systems
|
396
|
388
|
2.1%
|
4 230
|
4 148
|
2.0%
|
TOTAL
|
2,047
|
2 152
|
-4.9%
|
19,931
|
19,122
|
4.2%
|
Electricity
retail
Total electricity output by RusHydro Group’s
energy retail companies increased y-o-y by 1.6% and 3.1% in 3Q and 9M
respectively. The increase came on the back of climate factor aided
by economic recovery as electricity consumption increased following
lifting of restrictions implemented in 2020 on the back of COVID-19
pandemic spread.
Electricity
output by RusHydro Group’s retail companies, GWh
|
3Q'21
|
3Q'20
|
Chg.
|
9M'21
|
9M'20
|
Chg.
|
PJSC Krasnoyarskenergosbyt
|
2,337
|
2,298
|
1.7%
|
8,443
|
8,005
|
5.5%
|
JSC Chuvash retail company4
|
722
|
682
|
6.0%
|
2,451
|
2,284
|
7.3%
|
PJSC Ryazan retail company
|
579
|
553
|
4.8%
|
1,824
|
1,756
|
3.9%
|
JSC ESC RusHydro
|
416
|
560
|
-25.7%
|
1,139
|
1,494
|
-23.8%
|
PJSC DEK
|
4,269
|
4,087
|
4.5%
|
15,720
|
15,113
|
4.0%
|
Total
|
8,324
|
8,180
|
1.8%
|
29,577
|
28,652
|
3.2%
|
Isolated energy systems (for reference)
|
1,749
|
1,731
|
1.1%
|
6,307
|
6,146
|
2.6%
|
Total by Group
|
10,073
|
9,911
|
1.6%
|
35,884
|
34,798
|
3.1%
|
Water inflows forecast
According to the forecast of the Hydrometeorology
Center of Russia, the following dynamics of water inflows to the
major reservoirs is expected in the 4th quarter of 2021:
In the Far East, inflows to Zeyskoye and
Kolymskoye reservoirs are expected to be above the long-run average
or close to it;
In Siberia, water inflows to
Sayano-Shushenskoye reservoir are expected at the normal level, to
Novosibirskoye reservoir – below the normal level
Total water inflows to reservoirs of the
hydropower plants of the Volga-Kama cascade are expected below the
normal level or close to it.
1
Hereinafter data is reported excluding Armenia and Primorskaya GRES.
On 11.03.2020 RusHydro has finalized divestment of its assets in
Armenia to PJSC Hrazdan Power Company (HrazTES, Tashir Group).
Primorksaya GRES was sold to SUEK Group in June 2020
2
Includes generation by HPPs of JSC RusHydro, Kolymskaya HPP and
Viluiskie HPPs (RAO ES East Subgroup).
3
The Boguchanskaya hydropower plant is part of the Boguchanskiy Energy
and Metals Complex (BEMO), a 50/50 joint venture (JV) between
RusHydro and UC RUSAL, and is not part of RusHydro Group. According
to RusHydro’s shareholding in the JV (50%), the results of the
plant are reported in the official financial statements in “Share
of results of associates and jointly controlled entities”.
Operations of the HPP have been put into the press-release for
general reference.
4
Data as of 23.09.2021, date of transaction conclusion on divestment
of 100% share in Chuvash retail company to Transenergoprom
|