DJ PJSC RusHydro: RusHydro Group announces its operating results for 3Q 2021
PJSC RusHydro (HYDR) PJSC RusHydro: RusHydro Group announces its operating results for 3Q 2021 19-Oct-2021 / 13:04 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 is solely responsible for the content of this announcement.
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RusHydro Group announces its operating results for 3Q 2021
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%)*;
-- 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, PSPPs** 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 HPP*** 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 company**** 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-runaverage or close to it;
-- In Siberia, water inflows to Sayano-Shushenskoye reservoir are expected at the normal level, toNovosibirskoye reservoir - below the normal level
-- Total water inflows to reservoirs of the hydropower plants of the Volga-Kama cascade are expected belowthe normal level or close to it.
* 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
** Includes generation by HPPs of JSC RusHydro, Kolymskaya HPP and Viluiskie HPPs (RAO ES East Subgroup).
*** 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.
**** Data as of 23.09.2021, date of transaction conclusion on divestment of 100% share in Chuvash retail company to Transenergoprom
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 including Boguchanskaya HPP is 38.0 GW.
For more information:
Investor Relations Department
Tel. +7 (495) 122 0555 ext. 1304
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.
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ISIN: US7821834048, RU000A0JPKH7 Category Code: MSCM TIDM: HYDR LEI Code: 2534005TJN9DX4YWVT97 OAM Categories: 2.2. Inside information Sequence No.: 124696 EQS News ID: 1241832 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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October 19, 2021 07:04 ET (11:04 GMT)
