The concern will revise initial plans for its generating companies. The gas monopoly intends to revise investment programs of all the generating companies controlled by the concern. The revision will involve shifting the deadlines for the construction of new facilities or even possible refusal from their construction. At the time of the crisis, under the risk of being unable to ensure a guaranteed demand for electric power, Gazprom intends to refuse the implementation of a number of projects in Moscow and Saint-Petersburg where other generating companies are planning plan to construct new facilities. The plans of Gazprom to revise investment programs of all its generating companies were announced yesterday by Denis Fyodorov, Deputy Director of Mezhregiongaz (manager of Gazprom's power assets). According to Fyodorov, the gas concern applied to the Ministry of Energy and "System Operator" with a proposal to postpone the deadlines for the construction of power units in WGC-6 and WGC-2 and to consider possible cancellation of the projects planned for TGC-1 due to redundant facilities. "The financial crisis, redundancy and insufficient load of facilities are forcing Gazprom to revise investment programs of its power companies", said Fyodorov. At the moment TGC-1 is refurbishing and increasing capacities at Combined Heat and Power Plant 14, whereas another combined heat and power plant of the South-West District is being constructed within 3 km from Plant 14. "In the future we will have to share heat and electric power loads with the owners of the Combined Heat and Power Plant of the South-West District, and I am not quite sure to what purpose", said Fyodorov. In his opinion, this situation will result in highly ineffective use of the natural gas and, consequently, will make the rates go up. According to Fyodorov, a similar situation is taking place with Combined Heat and Power Plant "Parnas", built by EvroSibEnergo (ESE), and Combined Heat and Power Plant 21, integrated with TGC-1, where construction is now at the design stage. The heat loads of these two facilities will be excessive, but without them the project for constructing a new power unit at Combined Heat and Power Plant 21 will not be cost-effective. Gazprom proposed to ESE to create a joint venture on the basis of the two competing projects, suggesting, among other options, control on the part of ESE. However, the proposal of the gas monopoly was rejected. Two weeks ago Gazprom informed the government of Saint-Petersburg that it was ready to cancel its project for constructing the power unit at Combined Heat and Power Plant 21 if the Combined Heat and Power Plant "Parnas" agreed to undertake the facility supply contract. But Mr. Fyodorov is certain that EvroSibEnergo will never agree to sign this contract. In its turn, Gazprom cannot give up the project for constructing the power unit at Combined Heat and Power Plant 21 because it is bound by the contract to RAO UES of Russia; in case the concern fails to execute the contract it may have to pay a penalty of up to 25% of the cost of the investment program of the generating company. This is why the concern applied to the Ministry of Energy and proposed that the project should be either withdrawn from the investment program of TGC-1 or postponed till after 2014. Denis Fyodorov admitted that the situation with TGC-1 is due to the fault of the previous management team of the company that took out short-term loans for the implementation of long-term projects. Facilities are also redundant at MosEnergo. "Moscow Integrated Energy Company is expanding District Heat Plant "Babushkinskaya" (RBK Daily) within the reach of our Combined Heat and Power Plant 27 where in December we are planning to put into operation a combine cycle unit with a capacity of 450 MW", said the company's representative to RBK Daily. According to experts, the problem with redundant facilities as such is mainly caused by a highly overestimated forecast for electric power consumption. "The owners are beginning to realize that particular investment programs should never have been launched in the first place. Unfortunately, the position of the state as regards the issue in question is still obscure", says Alexander Kornilov, analyst of Alfa-Bank. According to Mr. Kornilov the problem can be solved by making new forecasts estimating the demand for electric power, based on the current economic situation. |
