OGK-1

OJSC OGK-1

Type	public
Traded as	MICEX:OGKA }RTS:OGKA
Industry	Power generation
Predecessor	RAO UES
Founded	2005 (2005)
Headquarters	Moscow, Russia
Key people	Vyacheslav Artamonov, Member of the Management Board
Products	power and heat
Revenue	US$]2 billion (2010)
Net income	US$124.9 million (2010)
Employees	5,800
Parent	Inter RAO UES
Website	ogk1.com

The First Generation Company of the Wholesale Electricity Market (OGK-1) (MICEX:OGKA, RTS:OGKA) is a large Russian company formed by merger of 6 electricity generation companies.

History

The company was established in 2005 by merging six power plants into one company. Before 1 July 2008, about 92% of the company's shares was owned by RAO UES, Russian state-controlled energy holding company. As a result of the electricity market reform, 43% of shares was transferred to the Federal Grid Company of Russia, 23% to RusHydro, and 34% was distributed to minority shareholders.

On March 17, 2009 the rights under 61,9% of voting shares were transferred to Inter RAO UES for 5 years with the right for extension for the same period. Starting from July 6, 2009 the powers of the sole executive body of OGK-1 were transferred to Inter RAO UES.^[1]

Operations

OGK-1 operates following power stations:

• Permskaya GRES – 2,400 MW,
• Nizhnevartovskaya GRES – 1,600 MW
• Iriklinskaya GRES – 2,430 MW
• Kashirskaya GRES - 1,580 MW
• Verkhne-Tagilskaya GRES – 1,497 MW
• Urengoyskaya GRES - 24 MW.

The installed capacity of these power stations is about 9,500 MW. This comprises about 5.5% of the generating capacity of RAO UES.

The power output of the OGK-1 power plants in 2006 was around 48 TW.

References

1. ^ "OGK-1 Board of Directors Called an Extraordinary Meeting of Shareholders to Solve Issues Related to Financing of Priority Investment Projects and Gas Supplies to the Company’s Power Stations" (Press release). Inter RAO UES. 2009-11-19. http://www.interrao.ru/eng/news/company/292/. Retrieved 2010-07-10. 

External links

• Official website