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Brief History

JSC “TGC-1” was founded in March 2005 as part of Russia’s power industry reform. JSCs “Lenenergo”, “Kolenergo” and “Karelenergogeneratsiya” acted as founders of TGC-1. On October 1, 2005 the company started its operating activity. On November 1, 2006 TGC-1 completed the merging of its assets and establishment of an integrated operating company, which is a legal successor in rights and obligations of the merged legal entities.

The new interregional power group generates electricity as well as generates, transmits and sells heat. TGC-1 operates on the territory of four subjects of the Russian Federation: St. Petersburg, the Leningrad Region, the Republic of Karelia and the Murmansk Region. TGC-1 has three regional branches: Nevsky, Kolsky and Karelsky.

TGC-1 has total installed power capacity of 6,275.45 MW. The company is the third largest power producer in Russia as compared to the other territorial generating companies. Along with this, 46 % of electricity produced by the company comes from its hydroelectric power plants.

TGC-1 heat capacity is 14,548 GCal/h. The company is a strategic heat supplier in St. Petersburg, and in the cities of Kirovsk (the Leningrad Region), Petrozavodsk, Murmansk and Apatity (the Murmansk Region). The company’s asset structure includes heat networks with a total length exceeding 940 km.

Shares of TGC-1 are traded on the quotation lists “B” on the RTS stock exchange and on the quotation list “A2” on the MICEX stock exchange.

Major Shareholders: Gazprom energoholding 28.66 %, Fortum Power and Heat OY 25.66 %, Russian Energy Projects 17,65%, other shareholders 28.03 %.

The key company’s objectives for 2008 are:

  

·      Achievement of the Company strategy on the accelerated updating of fixed capital.

·      Fulfilment of all approved plans-schedules of realization of investment projects.

·      Preservation of financial and social stability of the company.

·      Development and the beginning of construction of Murmansk CHPP-2 on coal.

·      The beginning of the operational activity of Khibinskaya thermal company and the    beginning of construction of the heating main.

·      The beginning of the operational activity of Vasileostrovskaya power company.

·      The beginning of the construction of a new power source in the north of Vasilevskiy   island.

 

The electricity produced by the generating assets of the company is sold at the federal wholesale market of electricity. Apart from that TGC-1 exports electricity to Finland and Norway. The export share in the total output of the company is about 3.6%.

TGC-1 also sells heat to the retail markets of Saint-Petersburg and the Republic of Karelia.        

The estimated share of TGC-1 in the heat power market of Saint-Petersburg and the Leningrad Region is about 48%, in the Karelia – nearly 80%. The company employs about 9 000 people.