Hotline of power engineering specialists:
At the meeting of the Board of Directors of the Company held on September 19 in person, the adjusted target key performance indicators of the Company, Business Plan and Investment Program of IDGC of Centre for 2012 were approved, as well as the report of General Director of the Company on the implementation of the Business Plan and Investment Program of IDGC of Centre for the 1st half of 2012.
The adjustment of the Business Plan and Investment Program for 2012 is connected with the adoption of long-term regulation parameters by regional regulatory authorities and FTS of Russia approval of tariff-balance decisions by the regulator on 01.07.2012.
According to the adjusted Business Plan the positive dynamics in the operating results of the Company for 2012 is expected to leave in terms of electric energy supply at +1%, reduction of electric energy losses at −0.15 pp, consolidated revenue at +1.2%, and revenue from the provision of electric energy transmission services in the grid at +2.2% against the same actual performance in 2011.
Data in million RUR, unless otherwise stated
|
Indicators |
Year |
Change | |
|
2011 (actual under RAS) |
2012F adjusted |
||
|
Energy supplied by DGC, million kWh |
62 915 |
63 536 |
0,98% |
|
Electric energy losses in DGC grid, % |
9,93 |
9,78 |
0,15 p.p. |
|
Revenue (in total), including: |
68 127 |
68 958 |
1,2% |
|
Electric energy transmission services |
65 671 |
67 143 |
2,2% |
|
Cost price |
55 858 |
59 274 |
6,1% |
|
EBITDA1 |
13 820 |
12 653 |
8,4% |
|
EBITDA margin, % |
20,3% |
18,3% |
2.0 п.п. |
|
CAPEX |
15 195 |
16 090 |
-5,89% |
The decline in the EBITDA indicator is due to lowered tariffs for electricity transmission services by executive authorities of the subjects of the Russian Federation in the field of state regulation of tariffs in 2012 against the level of tariffs used while making the approved plan.
The adjusted Investment Program was approved in the amount of 16.1 billion RUR. In addition, the members of the Board of Directors considered and approved the report of General Director on the acquisition of power facilities in 2Q 2012, the approval of the acquisition of which is not required by the Board of Directors of the Company. In total for the period 20 transactions were closed, the amount of the acquisition of grid assets was 16.7 million RUR or 8.74 km of conductors and 7.04 km of cables, 3.3 MVA of capacity.
The measures for the acquisition of electric power facilities are implemented as part of the Company’s grid assets consolidation program, the main objectives in the implementation of which are: to improve the reliability of grid assets in the regions of the service area of IDGC of Centre, optimization of operating costs, establishment of centres of responsibility for the reliability and uninterrupted power supply.