Enel Russia releases 2018 operating results

Published on Tuesday, 29 January 2019

Moscow, January 29th, 2019 – PJSC Enel Russia has published its 4Q operating results as well as full year 2018.

“Our 2018 operating results were roughly in line with those of last year, despite being impacted by tough competition caused by overcapacity and lower energy consumption in some regions. Managerial action will help Enel Russia meet its guidance for 2018”

– Carlo Palasciano Villamagna, General Director of Enel Russia

Gross power production

 

 

  

 

 

 

 

4Q 2018 

 

 

 

 

2018 

 

 

 

 

Power plant 

 

 

 

 

GWh 

 

 

 

 

% Weight 

 

 

 

 

Δ yoy 

 

 

 

 

GWh 

 

 

 

 

% Weight 

 

 

 

 

Δ yoy 

 

 

 

 

Konakovskaya  

 

 

 

 

1,723 

 

 

 

 

15.3% 

 

 

 

 

1.0% 

 

 

 

 

6,748 

 

 

 

 

16.3% 

 

 

 

 

-6.8% 

 

 

 

 

Nevinnomysskaya  

 

 

 

 

2,306 

 

 

 

 

20.5% 

 

 

 

 

-13.5% 

 

 

 

 

7,925 

 

 

 

 

19.2% 

 

 

 

 

-2.7% 

 

 

 

 

Reftinskaya  

 

 

 

 

5,137 

 

 

 

 

45.7% 

 

 

 

 

5.1% 

 

 

 

 

19,592 

 

 

 

 

47.4% 

 

 

 

 

-0.3% 

 

 

 

 

Sredneuralskaya  

 

 

 

 

2,082 

 

 

 

 

18.5% 

 

 

 

 

-0.3% 

 

 

 

 

7,042 

 

 

 

 

17.0% 

 

 

 

 

0.6% 

 

 

 

 

Enel Russia 

 

 

 

 

11,248 

 

 

 

 

100.0% 

 

 

 

 

-0.9% 

 

 

 

 

41,307 

 

 

 

 

100.0% 

 

 

 

 

-1.7% 

 

 

Net power output

 

 

  

 

 

 

 

4Q 2018 

 

 

 

 

2018 

 

 

 

 

Power plant 

 

 

 

 

GWh 

 

 

 

 

% Weight 

 

 

 

 

Δ yoy 

 

 

 

 

GWh 

 

 

 

 

% Weight 

 

 

 

 

Δ yoy 

 

 

 

 

Konakovskaya  

 

 

 

 

1,651 

 

 

 

 

15.5% 

 

 

 

 

1.0% 

 

 

 

 

6,462 

 

 

 

 

16.5% 

 

 

 

 

-7.0% 

 

 

 

 

Nevinnomysskaya  

 

 

 

 

2,194 

 

 

 

 

20.5% 

 

 

 

 

-13.7% 

 

 

 

 

7,534 

 

 

 

 

19.2% 

 

 

 

 

-2.7% 

 

 

 

 

Reftinskaya  

 

 

 

 

4,874 

 

 

 

 

45.6% 

 

 

 

 

5.5% 

 

 

 

 

18,572 

 

 

 

 

47.4% 

 

 

 

 

0.0% 

 

 

 

 

Sredneuralskaya  

 

 

 

 

1,959 

 

 

 

 

18.3% 

 

 

 

 

-0.1% 

 

 

 

 

6,614 

 

 

 

 

16.9% 

 

 

 

 

0.6% 

 

 

 

 

Enel Russia 

 

 

 

 

10,678 

 

 

 

 

100.0% 

 

 

 

 

-0.7% 

 

 

 

 

39,182 

 

 

 

 

100.0% 

 

 

 

 

-1.6% 

 

 

Net power output in 2018 slightly decreased, reflecting lower production of conventional gas units (non-CCGT) and, specifically:

  • Konakovskaya’s output dropped by 7%, partially resulting from lower equipment use by the System Operator due to overcapacity of the system;
  • Nevinnomysskaya’s output decreased by 2.7% as weaker conventional gas units’ output resulting from higher nuclear production in Southern Russia more than offset the stable CCGT unit performance, which was in turn backed by the growing power demand in the region.

 

Reftinskaya’s output remained in line with 2017 as higher equipment availability could offset the downward trend in power consumption in the Ural region.

Sredneuralskaya’s output slightly increased (+0.6%) due to higher CCGT unit production following scheduled maintenance in 2017. This increase more than offset lower production from non-CCGT units mainly attributable to system overcapacity.

Heat sales

 

 

  

 

 

 

 

4Q 2018 

 

 

 

 

2018 

 

 

 

 

Power plant 

 

 

 

 

th GCal 

 

 

 

 

% Weight 

 

 

 

 

Δ yoy 

 

 

 

 

th GCal 

 

 

 

 

% Weight 

 

 

 

 

Δ yoy 

 

 

 

 

Konakovskaya  

 

 

 

 

54 

 

 

 

 

3.3% 

 

 

 

 

-5.3% 

 

 

 

 

187 

 

 

 

 

3.8% 

 

 

 

 

-4.0% 

 

 

 

 

Nevinnomysskaya  

 

 

 

 

441 

 

 

 

 

27.1% 

 

 

 

 

-5.3% 

 

 

 

 

1,504 

 

 

 

 

30.7% 

 

 

 

 

-8.1% 

 

 

 

 

Reftinskaya  

 

 

 

 

163 

 

 

 

 

10.0% 

 

 

 

 

4.3% 

 

 

 

 

489 

 

 

 

 

10.0% 

 

 

 

 

6.5% 

 

 

 

 

Sredneuralskaya  

 

 

 

 

968 

 

 

 

 

59.5% 

 

 

 

 

-3.2% 

 

 

 

 

2,722 

 

 

 

 

55.5% 

 

 

 

 

-8.5% 

 

 

 

 

Enel Russia 

 

 

 

 

1,627 

 

 

 

 

100.0% 

 

 

 

 

-3.2% 

 

 

 

 

4,903 

 

 

 

 

100.0% 

 

 

 

 

-5.8% 

 

 

Heat sales in 2018 decreased, mostly attributable to a decline of heat suppliers’ consumption at Sredneuralskaya and Nevinnomysskaya.

PDF (0.66MB)DOWNLOAD

An Enel Group subsidiary, PJSC Enel Russia operates the following power plants: Konakovskaya GRES, Nevinnomysskaya GRES, Sredneuralskaya GRES and Reftinskaya GRES. The company’s total gross installed electrical capacity is 9,428.7 MW (equivalent to 8,878.4 MW net installed capacity) and thermal capacity is 2.382 Gcal/h. PJSC Enel Russia’s authorised capital is 35,371,898,370 roubles, which is divided into ordinary shares with a par value of 1 rouble. The Enel S.p.A share in the company’s authorised capital is 56.43%, PFR Partners Fund I Limited’s share is 19.03%, Prosperity Capital Management Limited’s share is 8.23% and other minority shareholders’ share is 16.31%. PJSC Enel Russia shares are listed in Level 1 MOEX quotation list. The company was established in Yekaterinburg on October 27th, 2004 as OJSC OGK-5. On July 7th, 2009 by the resolution of Annual General Shareholders’ Meeting the company was renamed OJSC Enel OGK-5 and on August 8th, 2014 the Federal Tax Service registered the new version of the company’s charter with the name OJSC Enel Russia. On June 25th, 2015 the company changed its legal type and was renamed PJSC Enel Russia.