OREANDA-NEWS. August 16, 2010.   OGK-2 6M2010 RAS net income surged to 2.8 bn from 1.04 bn y-o-y. The genco’s revenue rose by 28% to RUB 24.9 bn, up from RUB 19.3 bn y-o-y. Gross income advanced to RUB 3.3 bn from RUB 2.8 bn y-o-y. The company attributes the revenue growth to higher sales and prices in deregulated market segments following the liberalization of the wholesale energy market. OGK-2’s ROE jumped 2.4x in 6M2010 to 7.38%.

Sales margin dropped slightly to 11.63%. Expenses went up, mainly due to a rise in fuel costs and an upturn in energy purchases and prices on the wholesale energy and capacity market. The genco’s net margin rose to 11.22% in 1H2010, up 5.81 pp y-o-y.