On January, 16 the Board of Directors of OJSC TGC-9 approved financial and economic results of company’s operations for the first nine months of 2008. The company’s revenue for the first nine months of 2008 comprised 31.2 billion rubles which is 34% more than for the same period of 2007; net profit – 1.2 billion against losses of 46.7 million rubles; EBITDA increased almost twofold to 2.242 billion rubles.
OJSC Sverdlovenergosbyt has unilaterally rescinded contracts with LLC Metallenergofinans, which used to buy power for EvrazHolding’s businesses, including OJSC Nizhny Tagil Iron and Steel Plant, OJSC Kachkanarsky Ore Mining and Processing Enterprise and OJSC Vysokogorsky Ore Mining and Processing Enterprise. LLC Metallenergofinans has fallen into arrears on payments for supplied power amounting to over RUR 538 million as of December 31, 2008.
A meeting of IES-Holding President Mikhail Slobodin and Orenburg Region Governor Aleksey Chernyshev held in Orenburg on January 14, 2009 resulted in the signing of an Agreement on Social and Economic Partnership between the Government of the Orenburg Region and CJSC IES in the field of the energy complex development.
A new position of deputy head of the division for capital construction was introduced in Generation Urals Division. Responsibilities of the new deputy head include development and implementation of investment programs for capital construction, retrofitting and modernization of power facilities.
All generating companies of IES-Holding (TGC-5, TGC-6, TGC-7 and TGC-9) took part in the first trades in the Arena market. In the result contracts for sales of electric power and capacity were concluded for power plants of TGC-7.
All generating companies of IES-Holding operated without failures and breaks during New Year and Christmas Holidays. On 11th of January power plants passed through the morning peak load steady and in accordance with the scheduler.
