Investments

Investments into the fixed capital of IDGC of Ural, OAO conceive capital expenditures including expenses on new construction, expansion, reconstruction and technical update of existing facilities, acquisition of equipment and other capital expenses. The investment program of IDGC of Urals for 2011 is approved by the BoD (protocol #91 dd. 09.09.2011).

Actual figures as of 2011 are as follows:

  Spent,
RUR mln,
no VAT
Commissioned fixed assets, RUR mln Financing, RUR mln, incl. VAT Commissioned capacity Capacity growth
        MWA km MWA km
Permenergo 2 439 2 770 2 818 129 571 111 437
Sverdlovenergo 2 266 2 044 2 417 92 382 55 124
Chelyabenergo 1 691 1 662 1 783 203 215 157 135
Executive office 16 8 20 0 0 0 0
IDGC of Urals 6 412 6 484 7 038 424 1 169 323 697

Actual 2011 figures in terms of investment directions ( RUR mln, excl. VAT)

  Capex Including
    Reconstruction
and update
New construction Other (FA acquisition)
Permenergo 2 439 1 415 964 60
Sverdlovenergo 2 266 1 746 378 142
Chelyabenergo 1 691 1 035 640 15
Executive office 16 8 3 5
IDGC of Urals 6 412 4 205 1 984 222

Actual figures in terms of commissioned capacity:

  Commissioned fixed assets, RUR mln Commissioned capacity
    km MWA
Permenergo 2 770 571 129
Sverdlovenergo 2 044 382 92
Chelyabenergo 1 662 215 203
Executive office 8 0 0
IDGC of Urals 6 484 1 169 424

Capex of IDGC of Urals, OAO in 2009-2011, RUR bln, excl. VAT

Capex of IDGC of Urals, OAO in 2009-2011, RUR bln, excl. VAT

Structure of capex in IDGC of Urals,
OAO in 2011

Structure of capex in IDGC of Urals, OAO in 2011

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Capex directions and structure

In 2011 a lot of work related to construction of new objects, reconstruction and technical update of the existing grid facilities was done.

Main capex directions in 2011 were:
  • Prevention of equipment ageing – maintenance of equipment operational characteristics within permitted values;
  • New construction – derestriction of connection in energydeficient nodes and creation of new main substations;
  • Development of grid services – increased volumes of transmitted energy due to connection of new consumers;
  • Provision of in-system network reliability – trouble-free transmission of energy in demanded volumes.

Real volume of capex in 2011 totaled RUR 6 412 mln, including technical update and reconstruction – RUR 4 205 mln (excl. VAT), new construction and expansion of existing facilities – RUR 1 985 mln (excl. VAT), other facilities covered by the investment program – RUR 222 mln, excl. VAT.

The most important facilities constructed and commissioned during 2011:

Permenergo

Construction of 110/35/6 kV substation Iva

Aim: To provide supply for residential complexes Iva-5, Pikhtovaya Strelka, Visim (Perm).

Commissioned fixed assets – RUR 427 mln. The facility was commissioned in December 2011.

Construction of 110/35/6 kV substation Plekhanova

Aim: To cover growing energy requirement for consumers from Danilikha microdistrict (Perm), to increase reliability of supply to existing consumers, to decrease losses in the networks.

Commissioned fixed assets – RUR 345.2 mln. The facility was commissioned in December 2011.

Reconstruction of 110 kV aerial TES -14-Overyata

Aim: Increase of reliability and transmission capacity.

The facility was commissioned in November 2011.

Sverdlovenergo

Reconstruction of 110/10/6 kV substation Irbit, reconstruction of 110/35 kV switchyard.

Aim: To cover growing loads and increase of reliability in energy supply for industrial and utility users in Irbit, the Sverdlovsk region.

Commissioned fixed assets – RUR 67 mln. The facility was commissioned in November 2011.

Construction of 110/10 kV substation Borodinskaya and 110 kV aerial line

Aim: Provision of energy supply for applicants implementing two investment projects being a priority for the social and economic development of the Sverdlovsk region.

Commissioned fixed assets – RUR 114.830 mln. The facility was commissioned in December 2011.

Chelyabenergo

Construction of 110/6 kV substation Karat

Aim: To provide reliable and high-quality energy supply for consumers in Kusa as well as to cover growing demand in capacity for consumers in Kusa.

Commissioned fixed assets – RUR 286 mln. The facility was commissioned in December 2011.

Reconstruction of 110 kV aerial line Ulu-Telyak-Sim-Tyaga

Aim: To increase reliability of energy supply for consumers in Asha and Minyar, Kuibyshev railroad, increase transmission capacity of lines between Bashkirenergo and Chelyabenergo.

Commissioned fixed assets – RUR 29 mln. The facility was commissioned in October 2011.

Reconstruction of 110 kV substation Butaki

Aim: To provide reliable energy supply for consumers in the Sosnovskyi district (the Chelyabinsk region), to cover growing demand in energy capacity of constructed cottage and garden suburbs in the district.

Commissioned fixed assets – RUR 57 mln. The facility was commissioned in December 2011.

Finance structure of the Company’s investment program in 2011 (finance resource breakdown), RUR mln, excl. VAT.

  Permenergo Sverdlovenergo Chelyabenergo Executive office IDGC of Urals
Investment resources 2 439 2 266 1 691 16 6 412
Internal finance resources
Depreciation of the reported year 874 1 089 569 8 2 541
Unused depreciation of the previous years 0 0 0 0 0
Unused profit of the previous years 299 0 0 5 304
Profit of the reported period for the investment program of the reported period, including: 0 170 156 0 326
Connection fee 0 47 0 0 47
Additional issue 0 0 0 0 0
Other internal finance resources 47 28 36 0 111
External finance resources
Budget assets (federal, municipal) 0 0 0 0 0
Attracted funds (borrowed, interest) 695 904 833 3 2 435
Connection fee - advances 523 76 96 0 695
Other external finance resources, including participation interest at the expenses of other resources 0 0 0 0 0

2012 investments are forecast at 2011 level.