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INTER RAO YEES OAO, Kvadra - Generiruyushchaya kompaniya OAO, Fortum OAO and TGK-2 OAO Fined over Capacity Provision-Interfax


Friday, 22 Mar 2013 08:21am EDT 

Interfax reported that the Market Council Supervisory Board has once again issued fines to four power generating companies over failure to meet March contract deadlines on provision of 1,335.5 MW of capacity, Market Council said in a statement. The fines are for two facilities at INTER RAO YEES OAO (Inter RAO), one at Kvadra - Generiruyushchaya kompaniya OAO (Quadra), one at TGK-2 OAO and two at Fortum. Inter RAO has postponed the launch of the 199.5-MW Gusinoozersk district power plant (Gusinoozersk GRES) from 2012 to 2013. Quadra postponed launch of the 190-MW combined cycle unit at the Novomoskovsk GRES in Tula region. TGK-2 OAO postponed launch of the 110-MW combined cycle unit at the Vologda combined heat and power plant (Vologda TETs) from September 30, 2012 to 2013. Fortum OAO has moved back launch of two blocks at the Nyagan GRES, each with 418 MW of power, from 2012 to 2013. The capacity provision contracts ensure guaranteed sale of output from the new capacity for 10 years and recovery of 75%-95% of capital and operating expenses, as well as full compensation for technical connections to the grid. The contracts also stipulate fines for non-fulfillment. 

Company Quote

8.95E-4
7.0E-6 +0.79%
10:45am EDT