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.


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-run average or close to it;
  • In Siberia, water inflows to Sayano-Shushenskoye reservoir are expected at the normal level, to Novosibirskoye reservoir - below the normal level
  • Total water inflows to reservoirs of the hydropower plants of the Volga-Kama cascade are expected below the 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.

 



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

fncls.ssp?fn=show_t_gif&application_id=1241832&application_name=news&site_id=acquiremedia3