RusHydro Group announces its operating results for 1Q 2022

April 21, 2022. Moscow, Russia. PJSC RusHydro (ticker symbol MOEX: HYDR) announces operating results for the 1st quarter of 2022, of the parent company and subsidiaries of RusHydro Group reflected in consolidated financial statements.

In 1Q 2022 RusHydro Group demonstrates stable output at the long-run average levels.

 

Key highlights of 1Q 2022:

• 34,310 GWh - total electricity generation by RusHydro Group including Boguchanskaya hydropower plant (+2.2%)[1];
• 25,144 GWh - electricity output by hydro and pumped storage plants including Boguchanskaya HPP (+0.4%);
• 9,049 GWh - electricity output from thermal power plants (+7.3%);
• 12,224 thousand Gcal/h - heat output from thermal power plants in the Far Eastern Federal District (-5.8%);
• 11,520 GWh - total sales by Group's electricity retail companies of ESC RusHydro Subroup (+0.3% y-o-y) [2].

Electricity generation by the plants of RusHydro Group, GWh

	1Q'22	1Q'21	chg, %
Center of Russia	7,752	7,910	-2.0%
South of Russia and North Caucasus	1,354	1,185	14.2%
Siberia	5,495	5,722	-4.0%
Far East	14,580	13,680	6.6%
TOTAL	29,181	28,497	2.4%
incl. by HPPs, PSPPs	20,015	19,950	0.3%
incl. by TPPs and other	9,049	8,437	7.3%
Incl. by alt. renewables (geothermal, solar, wind)	118	110	6.9%
Boguchanskaya HPP3	5,129	5,087	0.8%

 

The underlying factors of the production change in January-March 2022 were:

• water inflows to the reservoirs of the Volga-Kama cascade and Siberia at the long-run average level or slightly above, but below the level of 2021;
• water inflows to the  reservoirs in North Caucasus and Far East above the normal level.

 

Center of Russia

Total water inflows to the reservoirs of the Volga-Kama cascade in 1Q 2022 amounted to 27.7 cubic km (normal level 23.5 cubic km).

South of Russia and North Caucasus

Water inflow to Chirkeyskaya hydropower plant at Sulak river was 55% above the normal level.

Siberia

In 1Q 2022 water inflows to Novosibirskoye and Sayano-Shushenskoye reservoirs exceeded the normal level by 10% and 25%, respectively.

Far East

Inflows to Kolymskoye and Zeyskoye reservoirs demonstrated 2-fold and 2.3-fold increase above the normal level, respectively.

 

Heat output by thermal plants of the Group in the Far East, '000 GCal

	1Q'22	1Q'21		Chg.
JSC DGK incl.	8,820		9,259		-4.7%
Primorye power system3	2,132		2,205		-3.3%
Khabarovsk power system	4,875		5,068		-3.8%
Amur power system	997		1,101		-9.4%
South Yakutsk power district	816		885		-7.8%
PJSC Yakutskenergo	1,062		1,166		-8.9%
UES of East	9,881		10,425		-5.2%
Yakutsk power system incl.	540		606		-10.9%
JSC Sakhaenergo	23		28		-18.7%
JSC Teploenergoservice	518		578		-10.5%
Kamchatka power system incl.	690		751		-8.1%
PJSC Kamchatskenergo	659		719		-8.3%
JSC KSEN	31		32		-3.2%
Magadan power system	431		493		-12.6%
Chukotka power system	140		148		-5.1%
Sakhalin power system	541		558		-3.1%
Isolated power systems	2,342		2,556		-8.3%
TOTAL	12,224		12,980		-5.8%

 

Heat output from the Group's thermal power plants in the Far Eastern Federal District in 1Q 2022 amounted to 12,224 thousand Gcal/h, that is 5.8% lower compared to the similar period of the last year driven by elevated atmospheric temperature levels.

Electricity retail

Total electricity output by RusHydro Group's energy retail companies increased y-o-y by 0.3% and amounted to 11,520 GWh in 1Q 2022. The increase came on the back of climate factor aided by start of supply to new electricity consumers.

 

Electricity output by RusHydro Group's retail companies, GWh

	1Q'22	1Q'21	Chg.
PJSC Krasnoyarskenergosbyt	3,369	3,552	-5.2%
PJSC Ryazan retail company	679	683	-0.7%
JSC ESC RusHydro	430	364	18.0%
PJSC DEK	7,043	6,891	2.2%
Total by ESC RusHydro Subgroup	11,520	11,490	0.3%
Isolated energy systems (for reference)	2,558	2,582	-0.9%
Total by RusHydro Group	14,077	14,073	0.03%

 

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 2nd quarter of 2022:

• total water inflows to reservoirs of the hydropower plants of the Volga-Kama cascade are expected within normal range;
• water inflow to Chirkeyskaya hydropower plant at Sulak river is expected at the normal level;
• water inflows to the reservoirs at the rivers in Siberia are expected  close to the normal levels;
• In the Far East, inflows to Zeyskoye and Kolymskoye reservoirs are expected to be slightly above the normal level.

 

About RusHydro

 

RusHydro Group is the leading producer of renewable energy in Russia with over 400 generating facilities. It is Russia's largest generating company and is the third hydropower company in the world. The Group's total electricity generation capacity is 38.2 GW.

 

For more information:

Investor Relations Department

Tel. +7 (495) 122 0555 ext. 1186

ir@rushydro.ru

 

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.

 

[1] 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

[2] Excluding Chuvash retail company. On 23/09/2021 transaction on divestment of 100% stake in Chuvash retail company to Transenergoprom was closed.  

3 Includes Vladivostokskaya TPP-2 and Vostochnaya TPP managed by JSC DGK but recognized on the balance sheets of PJSC RusHydro and JSC RAO ES East, respectively.