PJSC RusHydro (HYDR)
PJSC RusHydro: RusHydro Group announces its operating results for 9 months
of 2019
22-Oct-2019 / 13:23 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer / publisher is solely responsible for the content of this
announcement.
RusHydro Group announces its operating results for 9 months of 2019
October 22, 2019. Moscow, Russia. PJSC RusHydro (ticker symbol: MICEX-RTS,
LSE: HYDR; OTCQX: RSHYY) announces operating results for the 3rd quarter and
9 months of 2019, of the parent company and subsidiaries of RusHydro Group
reflected in consolidated financial statements.
Key highlights:
- Operating results in 3Q 2019 reflected production increase on the back
of rainfall flooding and increased water inflow to the following
reservoirs: Volga-Kama cascade - 142% of the normal level,
Sayano-Shushenskoye - 116% of the normal level, Zeyskoye - 113% of the
normal level, Bureyskoye - 149% of the normal level and Kolymskoye - 161%
of the normal level.
- In 3Q'19, total production by hydropower and pumped storage plants
amounted to 27,168 GWh (+4.6%), total output by thermal power plants -
6,036 GWh (-2.6%) and production of alternative renewable energy
facilities - 91 GWh (+4.5%);
- In 9M'19, total production by hydropower and pumped storage plants
amounted to 68,824 GWh (-10.1%), total output by thermal power plants -
22,755 GWh (+0.1%) and production of alternative renewable energy
facilities - 308 GWh (-4.5%);
- Total electricity generation by the Boguchanskaya hydropower plant in
9M'19 amounted to 11,785 GWh (+14.6%)*;
- Total production of RAO ES East Subgroup's power plants in 9M'19
amounted to 24,615 GWh (+0.3%), heat output by thermal power plants -
18,967 thousand GCal (-3.1%);
- Sales by RusHydro Group's electricity retail companies in 9M'19 amounted
to 14,051 GWh (-4.5%);
- As of third decade of October, water storage at reservoirs of the
Volga-Kama cascade is 23% above the average level; at the reservoirs of
the Far East - slightly above the normal level; at the reservoirs of
Siberia and in the South of Russia - at the normal level.
Electricity generation by the plants of RusHydro Group, GWh
3Q'19 3Q'18 chg, % 9M'19 9M'18 Chg, %
Center of Russia 10,171 9,843 3.3% 29,528 35,828 -17.6%
S. of Russia and 2,489 2,494 -0.2% 5,804 6,102 -4.9%
N.Caucasus
Siberia 9,813 9,406 4.3% 20,478 22,239 -7.9%
Total for the price 22,473 21,743 3.4% 55,810 64,169 -13.0%
zones
Far East (HPP, 4,270 3,688 15.8% 11,073 10,517 5.3%
geothermal)
RAO ES East Subgroup 6,420 6,641 -3,3% 24,615 24,550 0,3%
Armenia 133 174 -23.1% 390 368 6.0%
TOTAL 33,295 32,246 3.3% 91,888 99,604 -7.7%
incl. by HPPs, PSPPs** 27,168 25,961 4.6% 68,824 76,567 -10.1%
incl. by TPPs 6,036 6,197 -2.6% 22,755 22,722 6.2%
Incl. by alt. 91 87 4.5% 308 314 -2.0%
renewables
(geothermal, solar,
wind)
Boguchanskaya HPP1 4,426 4,122 7.4% 11,785 10,286 14.6%
The underlying factors of the production change in the nine months of 2019
were:
? water inflows to the reservoirs of HPPs on the Volga-Kama cascade, South
of Russia and Siberia close to the normal level;
? water inflows to the reservoirs in the Far East above the long-run
average;
? growth of electricity generation by thermal power plants in the Far East
on the back of electricity consumption growth by 2.2%;
? growth of electricity sales to UES of Siberia from UES of the East by
11.5% (to 389 GWh) as compared to the same period last year;
? decrease of electricity sales to China by 3.1% (to 2,376.4 GWh).
Center of Russia
In the beginning of 2019, hydropower plants of the Volga-Kama cascade were
operating under the winter period regime of pre-flooding reservoir drawdown.
The water reserves of the cascade's reservoirs are higher by 17% and by 28%
as compared to the normal level and last year, respectively.
In the first quarter of 2018, inflow to most of the reservoirs on Volga and
Kama was close to the normal level. Total water inflow to the reservoirs of
the Volga-Kama cascade reached 24.9 km3 (normal level - 21.3 km3).
In the second quarter, water inflows to the reservoirs of the HPPs of the
Volga-Kama cascade were predominantly below the normal level: inflows to
Uglichskoye, Rybinskoye, Gorkovskoye and Nizhnekamskoye reservoirs were
20-40% below, inflows to Ivankovskoye, Cheboksarskoye and Saratovskoye
reservoirs were 60% below, while inflows to Volgogradskoye reservoir were
80% below the normal level. At the same time inflows to Sheksnskoye,
Kuybishevskoye, Kamskoye and Votkinskoye reservoirs were at the normal
level.
In the third quarter, water inflows to the majority of reservoirs on the
Volga-Kama cascade were at the normal level. Inflows to Kuybishevskoye and
Kamskoye reservoirs were 1.4 and 2.3 times the normal level, respectively on
the back of rainfall flood. By the end of third quarter water storage at the
reservoirs of the cascade were 18% above the normal level.
Total water inflow to the reservoirs on Volga and Kama in 3Q was 51.3 km3,
39% above the normal level. Total electricity production by the hydropower
plants of the Volga-Kama cascade and Zagorsksaya pumped storage in the third
quarter of 2019 increased by 3.3% to 10,171 GWh, in the nine months of the
year production amounted to 29,258 GWh as compared to corresponding period
of 2018.
South of Russia and North Caucasus
Water inflow to the reservoir of Chirkeyskaya HPP in 1Q 2019 was 20% above
the normal level. Average daily water inflow to the reservoir of
Chirkeyskaya HPP in the months of January and February 2019 was 75.7 m3. The
HPP is operating under water economy regime to preserve high water level in
the reservoir as water reserves in the snow deposits of the Sulak River are
below the normal level.
In the second quarter of 2019, water inflow to Chirkeyskaya HPP was close to
the normal level. By the beginning of the third quarter water storage at the
reservoirs of the HPPS of the Sulak cascade were 5% above the normal level
and 4% above the level observed during the same period last year.
In the third quarter water inflow to the reservoir of Chirkeyskaya HPP was
35% below the normal level. By the end of third quarter water storage at the
reservoir was at the normal level.
In 3Q 2019, total electricity production by the hydropower plants in the
South of Russia and North Caucasus decreased by 0.2% to 2,489 GWh as
compared to the corresponding period last year, in nine months of the year -
amounted to 5,804 GWh.
Siberia
Water inflow to the reservoirs on the rivers of Siberia in the first quarter
of 2019 was higher than normal level by 15%.
In the second quarter of 2019 water inflows to Novosibirskoye and
Sayano-Shushenskoye reservoirs was 20% below the normal level. By the end of
the spring flooding season the reservoir was filled to the normal reservoir
water surface of 113.5 m allowing enough water storage for the low water
season as well as for upcoming heating season.
Water inflow to the Sayano-Shushenskoye reservoir in the second quarter was
30% below the normal level as low air temperatures delayed the start of
spring flooding. By the end of June inflows increased significantly
following extra rainfall and snowmelt in the mountains allowing filling the
reservoir up to the normal level.
In the third quarter of 2019, water inflow to Novosibirskoye reservoir was
20% above the normal level, to Sayano-Shushenskoye reservoir - 15% above the
normal level. At Sayano-Shushenskoye reservoir following extended cold
front, flooding season shifted to the summer before transitioning to
rainfall flood allowing filling of the reservoir under normal conditions.
Starting from August 16 additional water was discharged through spillways.
In the third quarter, the HPP operated under maximum capacity for the first
time in its history. This became possible thanks to effective coordination
with the System Operator.
Overall electricity production by the hydropower plants in Siberia increased
by 4.3% in 3Q 2019 to 9,813 GWh, in the nine months of the year production
amounted to 20,478 GWh. Boguchanskaya HPP produced 4,426 GWh in 3Q 2019 and
11,785 GWh in nine months of the year - an increase of 7.4% and 14.6% over
the corresponding period last year respectively.
Far East
The spring flooding season in the Far East is expected at the end of April -
beginning of May.
In the first quarter of 2019, water inflow to Kolymskoye and Zeyskoye
reservoirs was 25-40% above the normal level. Water inflow to the cross
section of Bureyskaya HPP decreased following a landslide that occurred in
December of 2018. The situation has been restored in February 2019 following
formation of an outlet. Since then 1.16 km3 of water has entered the segment
of the reservoir adjacent to the dam. In the first quarter of 2019, the
facility was operating under normal conditions, in the pre-flooding
reservoir drawdown regime.
In 2Q 2019, water inflow to Kolymskoye reservoir was 35% above the normal
level while inflow to the Zeyskoye reservoir is below the normal level.
Inflow to the Bureyskoye reservoir was 60% above the normal level. Up to 50%
of the inflow was accumulated in the reservoir.
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