Fortum is recognized leader in implementation of investment programmes
Fortum’s subsidiary OAO Fortum has been selected as the leader in
implementation of investment programmes in Russia. The rating was made
by the Market Council, which evaluates the performance of energy
companies in Russia’s electricity and capacity markets. The companies
were rated based on investments realised by the end of September 2011
and those announced for implementation by 2017.
The extensive investment programme being implemented by Fortum’s
subsidiary OAO Fortum, which operates in the oil- and gas-producing
regions of the Urals and West Siberia, will increase electricity
production capacity from about 2,800 megawatts (MW) to about 5,100 MW.
The plan is to complete the investment programme by the end of 2014.
The first of the seven units within the framework of the investment
programme, Fortum’s new unit at the Tyumen CHP-1 power plant in West
Siberia, was inaugurated in December 2010. The unit started commercial
operation in February 2011. The new units at Chelyabinsk and Tobolsk
were also commissioned last year. Construction of the new Nyagan power
plant continues in the West Siberia. After completion, the plant will
produce electricity with three natural gas-fired, 418-MW units.
Electricity wholesale markets were liberalised in Russia at the
beginning of 2011. The new production capacity built after 2007 under
the capacity supply agreements (CSA) will receive guaranteed payments
for a period of 10 years.
What is Russia’s Market Council?
Russia’s Market Council was established in 2001 in conjunction with the
Russian power reform. One of the most important tasks of the Market
Council is to maintain the operation of the wholesale markets’
commercial infrastructure and to ensure efficient collaboration between
the wholesale and retail markets.
For additional information:
Denis Litoshik, PR and Communications Director, tel. +79853835261
