DJ PJSC RusHydro: RusHydro Group announces its 4Q and FY2021 operating results
PJSC RusHydro (HYDR) PJSC RusHydro: RusHydro Group announces its 4Q and FY2021 operating results 27-Jan-2022 / 13:24 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 4Q and FY2021 operating results
January 27, 2022. Moscow, Russia. PJSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces operating results for the 4th quarter and full year ended December 31 2021, of the parent company and subsidiaries of RusHydro Group reflected in consolidated financial statements.
Solid production results driven by widespread geographical presence of generating facilities on river basins throughout the regions of presence.
2021 key highlights:
-- 143,766 GWh (-3.3%) - total electricity generation of RusHydro Group including Boguchanskaya hydropowerplant in 2021. Total electricity generation by RusHydro Group excluding Boguchanskaya hydropower plant amounted to 126,528 GWh (-3.4%)1;
-- 2 hydropower plants have set new all-time high annual record outputs: Sayano-Shushenskaya HPP (29,379GWh, +10.4%) and Zeiskaya HPP (7,673 GWh, +37.9%)
-- 116,261 GWh - electricity output from hydro and pumped storage plants incl. Boguchanskaya HPP (-4.3%)2;
-- 27,075 GWh - electricity output from thermal power plants (+1.5%);
-- 30,109 GWh - total electricity output from power plants in the Far Eastern Federal District (+2.6%);
-- 46,389 GWh - sales by Group's electricity retail companies (+2.1%)3.
Installed electric capacity of RusHydro Group
RusHydro Group's installed capacity increased by 100 MW in 2021. The main drivers for change in installed electric capacity were increase of installed capacity of Ust-Srednekanskaya HPP (+117 MW) and increase of installed capacity of Nizhegorodskaya and Votkinskaya HPPs (+13 MW) following execution of comprehensive modernization program.
MW Dec 31, 2021 Dec 31, 2020 Center of Russia HPPs /PSPPs 11,819.9 11,807.4 S. of Russia and N. Caucasus 3,311.7 3,311.7 Siberia 7,211.0 7,211.0 Total for price zones of Russia 22,342.6 22,330.1 HPPs of the Far East 5,714.4 5,597.6 RAO ES East 7,015.7 7,044.0 Geothermal PPs, RES 81.1 82.5 Total for non-price and isolated zones of Russia 12,811.2 12,724.1 TOTAL 35,153.8 35,054.2 incl. by HPPs, PSPPs2 28,057.0 27,927.7 incl. by TPPs and other 7,015.7 7,044.0 incl. by geothermal, RES 81.1 82.5 Boguchanskaya HPP 2,997.0 2,997.0 TOTAL (incl. Boguchanskaya HPP) 38,150.8 38,051.2
Installed heat capacity of RusHydro Group
The main change in installed heat capacity came on the back of decommissioning of boilers at Neryungri water boiler (200 Gcal/h) and decommissioning of heat generating unit at Komsomolskaya CHPP-1 (60 Gcal/h).
GCal/h Dec 31, 2021 Dec 31, 2020 JSC DGK, incl. 12,366.7 12,626.2 Primorye power system 2,416.0 2,416.0 Khabarovsk power system 7,587.0 7,646.5 Amur power system 1,178.7 1,178.7 South-Yakutia power district 1,185.0 1,385.0 JSC RAO ES East (CHP Vostochnaya) 432.6 432.6 JSC DGK and JSC RAO ES East 12,799.3 13,058.8 Yakutsk power system, incl. 2,540.8 2,548.8 PJSC Yakutskenergo 1,723.7 1,726.2 JSC Sakhaenergo 87.9 87.9 JSC Teploenergoservice 729.2 734.7 Kamchatka power system, incl. 1,253.0 1,273.4 PJSC Kamchatskenergo 1,204.6 1,226.3 JSC KSEN 48.4 47.1 Magadan power system (PJSC Magadanenergo) 775.3 775.3 Chukotka AO power system (JSC Chukotenergo) 399.3 399.3 Sakhalin power system (PJSC Sakhalinenergo) 783.5 783.5 Total isolated and other power systems 5,751.9 5,780.3 TOTAL 18,551.3 18,839.1
Electricity generation by the plants of RusHydro Group, GWh
4Q'21 4Q'20 chg, % 2021 2020 chg, % Center of Russia 7,753 9,924 -21.9% 37,453 48,245 -22.4% South of Russia and North Caucasus 1,746 1,019 71.8% 7,881 6,331 24.5% Siberia 6,391 7,483 -14.6% 32,478 30,347 7.0% Total for the price zones 15,980 18,426 -13.2% 77,812 84,923 -8.4% Far East 5,332 4,760 12.0% 19,043 16,693 14.1% RAO ES East 8,887 8,031 10.7% 29,674 29,371 1.0% TOTAL 30,109 31,218 -3.6% 126,528 130,987 -3.4% incl. by HPPs, PSPPs 21,769 23,862 -8.8% 99,023 103,881 -4.7% incl. by TPPs and other 8,222 7,247 13.5% 27,075 26,680 1.5% incl. by alt. renewables (geothermal, solar, wind) 118 109 8.0% 430 426 1.1% Boguchanskaya HPP 4,717 4,542 3.8% 17,238 17,638 -2.3%
The underlying factors of the production change in 2021 were:
-- water inflows to the reservoirs of the Volga-Kama cascade at the normal level;
-- 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 1.1%
-- increase of heat output in the Far East driven by weather conditions.
Heat output by RusHydro Group's thermal plants in the Far Eastern Federal District in the fourth quarter of 2021 came in at 10,177 GCal, in 2021 - 30,109 GCal, a decline of 0.7% and increase of 2.6% respectively as compared to 2020.
Heat output by thermal plants of RAO ES of the East Subgroup, '000 GCal
4Q'21 4Q'20 chg, % 2021 2020 chg, % JSC DGK incl. 6,968 7,146 -2.5% 20,398 19,964 2.2% Primorye power system 1,293 1,339 -3.5% 4,080 4,049 0.8% Khabarovsk power system 4,040 4,109 -1.7% 11,719 11,468 2.2% Amur power system 888 922 -3.7% 2,530 2,474 2.3% South Yakutsk power district 748 708 5.5% 2,070 1,907 8.5% JSC RAO ES East (CHPP Vostochnaya) 147 274 -46.5% 715 846 -15.4% PJSC Yakutskenergo 973 966 0.8% 2,677 2,550 5.0% UES of East 8,088 8,385 -2.0% 23,791 23,360 1.8% Yakutsk power system incl. 498 273 81.9% 1,342 1,006 33.4% JSC Sakhaenergo 20 23 -12.7% 60 66 -8.9% JSC Teploenergoservice 478 251 90.5% 1,282 940 36.3% Kamchatka power system incl. 600 588 2.0% 1,904 1,919 -0.8% PJSC Kamchatskenergo 573 588 -2.5% 1,827 1,877 -2.7% JSC KSEN 27 - - 78 42 82.3% Magadan power system 410 407 0.8% 1,271 1,238 2.7% Chukotka AO power system 125 105 18.6% 402 397 1.3% Sakhalin power system 456 485 -5.9% 1,399 1,438 -2.7% Isolated power systems 2,088 1,858 12.3% 6,318 5,999 5.3% TOTAL 10,177 10,243 -0.7% 30,109 29,358 2.6%
Electricity retail
Total electricity output by RusHydro Group's energy retail companies in 4Q 2021 and 2021 increased by 0.1% and 2.1% to 12,961 GWh and 46,389 GWh, respectively. The majority of decrease 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, GWh3
4Q'21 4Q'20 chg, % 2021 2020 chg, % PJSC Krasnoyarskenergosbyt 3,142 3,310 -5.1% 11,585 11,315 2.4% PJSC Ryazan retail company 681 671 1.6% 2,504 2,426 3.2% JSC ESC RusHydro 426 577 -26.1% 1,566 2,071 -24.4% PJSC DEK 6,314 6,048 4.4% 22,029 21,162 4.1% Total ESC RusHydro subgroup 10,563 10,606 -0.4% 37,684 36,974 1.9% Isolated energy systems (for reference) 2,398 2,337 2.6% 8,705 8,482 2.6% Total by Group 12,961 12,943 0.1% 46,389 45,456 2.1%
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 1st quarter of 2022:
-- Total water inflows to reservoirs on Volga-Kama cascade are expected slightly below the normal level;
-- Inflows to the reservoirs on the rivers Siberia and the Southern Caucasus above the normal level;
-- In the Far East inflows to Zeyskoye reservoir are expected above the normal level, to Kolymskoyereservoir at the long-run average.
^1 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.
2 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.
3 Data excluding Chuvash Retail Company. On 23.09.2021, 100% share in Chuvash Retail Company was divested to Transenergoprom.
About RusHydro
RusHydro is Russia's largest power company by installed capacity. It is the country's largest hydrogenerating company and the third in the world with over 400 generating facilities. RusHydro Group is the leading producer of renewable energy in Russia with total electricity generation capacity of 38.2 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.: 139370 EQS News ID: 1273735 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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January 27, 2022 07:24 ET (12:24 GMT)
