The power holding company is amending the investment programmes of its subsidiaries RAO UES of Russia intends to amend the investment programme of its subsidiaries to concentrate resources on accelerating the construction of new facilities in territories where there is a deficit of power. The amendments will in the first instance concern the commissioning of new power units at Perm State District Power Plant (GRES) of Wholesale Generation Company No. 1 (WGC-1), as RBC Daily came to learn. Also, the use of the resources of WGC-5's Konakovo GRES investment project will allow accelerating the implementation of the Reftinskii GRES construction project. WGC-1 told RBC Daily that the company's original plans contemplated the construction of an 800 MW gas-fired power unit at Perm GRES. However, after a preliminary consultation with the technical agent, the project had to be somewhat modified. "The matter is that the existing units of the power plant have a capacity factor of 60% only, therefore there is no point for us to commission a new power unit currently that would not operate at full capacity either," noted the WGC-1 representatives. Proceeding therefrom, the company judged that it would rather increase the capacity factor of the operated power units and build lower-capacity power units to cover deficit in the region. "This will be one 160 MW combined-cycle power plant or two 100 MW ones," emphasised the RBC Daily interlocutor. These power units can start operating at full capacity within a short period of time, which allows them to cover peak loads. WGC-1 added that it does not completely abandon its intentions to build an 800 MW power unit, but the project will be implemented later. A similar situation has developed for WGC-5. Konakovo GRES does not operate at full capacity either, by half at best. The power plant cannot supply electricity to Moscow because of power grid limitations which Federal Grid Company intends to remove in the next few years though. Earlier, WGC-5 intended to build two 400 MW power units at Konakovo GRES. The company also intended to build a 500-600 MW power unit at Reftinskii GRES which is located in the Urals, the territory experiencing the worst deficit of electric power in the country. At the beginning of the month, the RAO UES of Russia Management Board Chairman ordered the WGC-5 management to "consider the advisability of accelerating the implementation of the Reftinskii GRES investment project at the expense of the use of the resources of the Konakovo GRES investment project." Finam Investment Company analyst Semion Birg believes the shift in the investment project priorities absolutely justifiable: "The Region of Sverdlovsk has a deficit of electric power and Territorial Generation Company No. 9 (TGC-9) which also operates in the region has not yet obtained a sufficient amount of money to build generating facilities, while the problem already needs to be solved, which WGC-5 will handle." Stanislav Kleschev of VTB 24 believes that the interest of the power companies in the Urals is not accidental, "Power consumption growth rates in the region set a nationwide record, while the implementation of the federal targeted programme Urals the Industrial - Urals the Polar will speed them up even further." This is, according to Mr Kleschev, the explanation of the reasons for first launching a 160 MW gas turbine power plant and only then, after a small capacity reserve is obtained, building a full-featured 800-megawatt power unit. The same can be said about the reallocation of funds from Konakovo GRES to finance the Reftinskii GRES investment project. Experts do not rule out that the investment projects of other generation companies of the power holding company may also be thus amended, which, inter alia, will render these projects more expensive. |
