OREANDA-NEWS  On 18 September was announced, that 94,551.6 million kWh for the total amount of 103,994.6 million rubles was sold over the 2 years of work at NOREM by OGK-1 power plants.

The allocation under regulateв contracts amounted to 85,380.5 million kWh. 44,247.2 million kWh was sold on the spot market (SM), 3,810.3 million kWh was sold on the balancing market (BM). The company has purchased 34,277.7 million kWh on SM and 4,608.8 million kWh on BM in order to meet its obligations towards the consumers.

The electric power sales figures demonstrate positive company work dynamics at NOREM. Specifically, the electric power sales have increased by 12,3% over the second year of work at NOREM as compared to the first year (the company has sold 44,539 million kWh from September 2006 till August 2007 and 50,012.6 million kWh from September 2007 till August 2008). The regulated contract allocation has dropped by 4,8% (the company has allocated 43,747 million kWh under regulated contracts from September 2006 until August 2007 and 24,392.7 million kWh from September 2007 until August 2008). This change signals the increase of the electric power portion sold at competitive prices.

The profit from electric power and capacity sales increased by 23,3% as compared to the first year of work at NOREM (the company benefit over the period from September 2006 until August 2007 amounted to 46,570.5 million rubles including VAT and 57,424.1 million rubles including VAT over the period from September 2007 until August 2008).

OGK-1 General Director Vladimir Khlebnikov evaluates company work at NOREM in a positive way: “OGK-1 predictions and expectations concerning the fair market have been confirmed. The market development makes the real competition among generating companies possible and gives an incentive to market participant development. The emergence of NOREM is the main criterion for investors in terms of evaluation of investment prospects of the industry”.