Company News

TGC-1 releases audited consolidated Financial Statements for the 12 months period, ended 31 December 2019 prepared in accordance with International Financial Reporting Standards (IFRS).

TGC-1 discussed the power plant readiness for the flood water passage. The meeting was attended by the Company management, chief engineers of TGC-1 structural subdivisions and branches, EMERCOM representatives, and the North-West Department of Hydrometeorology and Environmental Monitoring.

TGC-1 published its annual audited accounting (financial) statements for 2019 under the Russian Accounting Standards (RAS).

February 12, 2020, in St. Petersburg the representatives of Russia, Norway and Finland have signed the Protocol for Water Regime Regulation of Lake Inari (Finland) which is used by Russian and Norwegian HPPs.

According to 2019 results, electricity output of TGC-1, including PJSC Murmanskaya CHPP, comprised 28,275.0 million kWh, which is 3.6% lower compared to 2018.

24 MW hydroelectric unit #2 at Poduzhemskaya HPP has been completely overhauled by TGC-1 power engineers.

On 13 January 2020, the Analytical Credit Rating Agency (ACRA) affirmed TGC-1 credit rating at AA according to the Russian national scale with outlook Stable.

In Yekaterinburg, the Ural Turbine Works has accepted the first batch of new equipment for TGC-1's Avtovskaya CHPP renovation.

The Boards of TGC-1, PJSC OGK-2 and PJSC Mosenergo have decided to join the Gazprom Group's centralised cash flow and liquidity management system (cash pooling). The cash pooling leader is PJSC Gazprom.

Power engineers of the Severnaya CHPP completed the refurbishment of power unit No. 4. A considerable amount of work was done — the main steam pipeline was replaced, control circuits were updated, and the system of automatic ignition of gas torches was installed