Russian power generation company Inter RAO has released its 2016 results, posting a 7% decline in its installed capacity and a 4.9% drop in its power generation over the year.
In 2016, the group's installed capacity contracted from 35 GW to 32.5 GW, due to a 734 MW decrease in Russia (retirement of 835 MW of legacy low-efficiency equipment in Russia, including 420 MW at Cherepetskaya TPP, 376 MW at Verkhnetagilskaya TPP, 35 MW at Yuzhnouralskaya TPP and 4 MW at Bashkir power plants; this was partly offset by new capacities). These retirements contributed to a 5.6% decrease in Russian power generation and to a 1.3% decrease in the heat production capacity (heat distribution from collectors rose by 2.4% in turn). The group sold 169 TWh (+1.9%) to 14.4 million customers in Russia (+13%), claiming a 17% market share on the Russian retail market.
Inter RAO's capacities outside Russia also declined by 710 MW, as the 1.1 GW Razdan power plant in Armenia and the 600 MW Mtkvari Energy plant in Georgia were sold. The group also sold its stake in Electric Networks of Armenia (decrease of nearly 31,800 km of transmission lines and 68% fall in the electricity delivered to the grid to 2.8 TWh). However, Inter RAO benefited from an increased generation at the Ekibastuzskaya TPP-2 in Kazakhstan, which contributed to the 1.6% increase in power generation (up to 13.8 TWh).
Lower power generation contributed to a 2.8% decrease in electricity exports (17 TWh), while electricity imports more than doubled to 3.1 TWh (87% from Kazakhstan).