The TGC-1’s Board approved the report on the results of company’s operation in the first half of 2012

At recent meeting of the Board the General Director reported on the results of the TGC-1’s business plan realization and the implementation of investment projects in the first half of 2012. The Board of Directors of JSC TGC-1 approved the report.

Levels of production of electrical energy (15.36 billion kWh) and heat generation (14.3 million Gcal) by the company’s power stations (excluding JSC Murmanskaya CHP) for the six months of this year are broadly in line with the business plan. Revenues in the reporting period amounted to 30 billion 740 million rubles. Proceeds from sale of power for the 6 months of 2012 amounted to 5 billion 476 million rubles which is 16.3% higher than the same period in 2011. This revenue from the sale of the power of the objects included in the contract for supply of power (PD) has increased by more than 2.5 times compared to the same period of the 1st half of 2011.

The Board of Directors discussed the managing of a number of investment projects and reviewed the implementation of the plan to increase shareholder value in the first half of 2012.

In addition, during the meeting it was decided to elect Mikhail Tuznikov to the Board. Recently he was appointed the Director for Economy and Finance of JSC TGC-1 on the score of Kirill Lykov left for a new job.

Mikhail Tuznikov

Born May 9, 1961 in Leningrad.

In 1985 he graduated from St. Petersburg Polytechnic University (Power Engineering Department), in 2004 graduated from St. Petersburg State University (Economics Department).

From 1985 to 1987 worked as a research assistant. Then was appointed the laboratory’s head and an engineer at the Leningrad Polytechnic Institute.

Since 1988  Tuznikov worked the engineer of the Research department of the All-Union Scientific Research and Design Institute of Power Engineering Technology.

From 1994 to 1995 taught at the Department of industrial power of the St. Petersburg Technical University.

In 1995 he was appointed engineer of optimization regimees in North-West ODU.

From 1996 to 2005 worked as engineer, the chief of producing department of Yuzhnaya CHP, the chief of electric grid exploiting of generation department, the deputy director for Economy and Finance in JSC Lenenergo.

In 2005 with the establishment of JSC TGC-1 became the deputy director on economics and finance at Nevsky branch and later the deputy director for capital construction.

In 2007-2012 was the Director of Production Center in  JSC SevZap SEC.