GREATER VOLUME AND IMPROVED QUALITY OF CAPITAL INVESTMENT, TOGETHER WITH THE CONCENTRATION OF FUNDS ON THE MOST IMPORTANT CONSTRUCTION PROJECTS MADE IT POSSIBLE TO COMMISSION ACILITIES ACCORDING TO PLAN AND ACCELERATE WORK ON RESTORATION AND START-UP CONSTRUCTION PROJECTS IN 2001
In the year 2000 investment in the fixed capital of the RAO "UES of Russia" Group increased by 21 per cent to 34.8 billion roubles as against 28.7 billion roubles in the preceding year. The amount of actual capital investment made out of RAO "UES of Russia" funds was 5, 520. 9 million roubles, as against 2, 868. 4 million roubles in 1999. In current prices the increase was equal to 90 per cent, in comparable prices adjusted for inflation real capital investment by RAO "UES of Russia" increased by 35 per cent.
In the year 2000 RAO "UES of Russia" financed 7,426.2 million roubles of capital investment, an increase of 60 per cent over the 1999 figure. Of this sum 17 per cent was used to settle accounts payable. The steady downward trend in RAO "UES of Russia" accounts payable in the area of capital construction was the result of work carried out in 1999-2000 on restructuring accounts payable, adjusting arrangements with creditors and actively implementing agreements reached.
The exclusion of discount losses on sales of commodity bills of exchange and mutual discounting brought a significant improvement in the efficiency with which investment funding was used. In the year 2000 the proportion of funding in cash (including bills of exchange realised with no discount) increased to 49 per cent, as against 17 per cent in 1999, while the level of cash funding for the fourth quarter was 80 per cent.
In the year 2000 the power stations within the Holding Company commissioned 25 turbine assemblies with a total capacity of 665,800 kW. In addition an operations commission approved the first 450,000 kW steam-gas unit at the North Western Thermo-Electric Power Plant in St. Petersburg for test operations, which have already begun.
The commissioning of hydro power units was continued at small hydro power plants on Kamchatka and in KabardinoBalkaria, and so was the commissioning of wind turbines at AO "Yantarenergo".
The year 2000 saw the commissioning of 2,243.1 km of overhead lines with voltages of 35 kV and higher, of which 1,046.88 km were fundamental main-system power lines funded by RAO "UES of Russia" investment, including 350 km of Company electric power transmission lines, accepted by the operating commission. The commissioning of the 408.7 km, 330kV "Budennovsk — Kizlyar —Chir-Yurt" overhead power line means that during the summer surplus electricity (~1.5 billion kWh) from the Dagestan energy system can be transmitted to the North Caucasus Integrated Energy System, and in winter power from the Stavropol and Nevinnomyssk FFPS can be received in Dagestan. This will help to reduce the dependence of Dagestan's consumers on electricity supplied from the Republic of Azerbaidjan.
In order to increase exports of electricity to Finland construction work has been completed on the 810 MVA Vyborg Complex Rectifier-Convertering Device (KVPU)_4 with a 330kV transmission line 276.7 km in length.
The 79.04 km 330 kV "Kingisepp – Perevolok" overhead power line was brought into operation. The introduction of this high-voltage transmission line solves the problem of supplying electricity to the Pskovsk Oblast directly from the Leningrad Energy System, bypassing Estonia, and improves the reliability of supply.
The increase in funding and the concentration of resources in the year 2000 have made it possible to accelerate work on the most important restoration and start-up construction projects of 2001: the Bureya Hydro Power Station, the Kharanor FFPS, the Boguchansk Hydro Power Station, the 500 kV "Zarya – Barabinsk" overhead power line and the 500kV "Gusinoozersk Power Station — Petrovsk-Zabaikalsky — Chita" overhead power line.
OVERHAULING AND RECONSTRUCTING EQUIPMENT. During the year 2000 the company's efforts were focused on overhauling and reconstructing existing generating capacity, as well as replacing capacity withdrawn from service due to total physical obsolescence. About 59 per cent of capacity commissioned was provided by the overhaul and reconstruction of existing power stations.
In the year 2000 capital investment by RAO "UES of Russia" in the overhaul and reconstruction of electricity grid facilities amounted to 330 million roubles (in 1999 the figure was 114.6 million roubles).
During the year RAO "UES of Russia" electricity grid overhaul projects provided 125 MVA of transformer capacity (the "Novosokolniki" 330 kV substation) and 240 Mvar capacity (the "Penza-2" 500 kV substation). The commissioning of an autotransformer and reactor groups at the "Novosokolniki" substation restored the reliability of the electricity supply to consumers in the southern regions of the Pskov Oblast.
The introduction of groups of shunting reactors at the "Penza –2" 500 kV substation provided conditions for the reliable operation of the "Tambov –Penza" 500 kV overhead transmission line. Work on replacing high-voltage equipment at a number of substations has significantly improved the operational reliability of the main electricity grid.
The RAO "UES of Russia" electricity grid overhaul and reconstruction programme for 2001 –2005 envisages that work will be carried out on 80 substations and 18 electricity transmission lines, involving a total expenditure of 18.2 billion roubles. It is envisaged that 1,741 MVA of transformer capacity will be commissioned at nine substations and 480 Mvar of reactor capacity will be introduced at three substations.
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