In 2002, the overall investments in RAO "UES of Russia" Group increased 34% to RUB 60.4 billion.

The amount of investments utilized throughout RAO "UES of Russia" Group in 2002 totalled RUB 60.4 billion (in current prices), out of which investments in technical refurbishment and major overhauls of the main production facilities of energy companies (excluding the FGC-owned facilities) made RUB 27.6 billion. In comparable prices, investments grew 14.8% on last year. The investments funded with own resources of OAO RAO "UES of Russia" reached RUB 17.1 billion in 2002, a 16.3% increase from 2001 in comparable prices. In the year under review, the investment expenditures were made only in cash.

In 2002, 37 turbine generator units were commissioned with an aggregate capacity of 640.4 MW, with 146.7 MW funded by OAO RAO "UES of Russia". 472.2 MW of capacity (73.7% of the total generating capacities commissioned) was put into commercial operation as a result of technical refurbishment at operating power plants. In October, two 25 MW generator units were put into trial operation at Mutnovskaya GeoTPP. This made it possible to reduce black oil supplies to Kamchatka and introduce new technologies using energy of geothermal waters. The second 80-MW hydroelectric unit was put into operation at Zelenchukskaya HPP. In December 2002, Aushigerskaya HPP (three 20 MW hydroelectric generators), part of the Nizhnechereksky HPP Cascade, was put into operation. In the same month, the first boiler unit was commissioned at Argunskaya CHPP-4.

The amount of investments in the power grid facilities came to RUB 6.5 billion. In 2002, the following power grid construction projects were fully completed: 400-kV transmission line "Vyborg - State Frontier"; 500-kV transmission line "Zarya - Barabinsk" (operated at 220 kV), 330-kV transmission line "Pskovskaya TPP - Staraya Russa", and 330-kV "Pskov - Yuzhnaya" with HV interconnections.

The actual amount of investment expenditure on energy projects reached RUB 36.6 billion, 96% of which was invested in the construction of production facilities. The amount of investments spent on technical refurbishment and major overhaul of the main production facilities made RUB 25.62 billion. The primary source of funds for regional energos' investment programs is depreciation charges, which made 85.2% of total investments in 2002. In 2002, regional energos commissioned 315.7 MW of generating capacity (with technical refurbishment of operating power plants accounting for 294 MW, or 93.1%), put into operation 5 steam boilers with the overall steam output of 2,060 t/h (1560 t/h, or 75.7% through retooling), 1 hot water boiler of 180 Gcal/h, 966.4 km of HV lines of 35 kV and above, and 80.9 km of heat pipelines.

One of the key aspects of the investment policy of RAO "UES of Russia" is technical refurbishment and major overhaul of the existing equipment. Under this program, OAO RAO "UES of Russia" invested RUB 1.6 billion in power grid projects. RUB 1.8 billion were allocated to re-equipment of AO-power plants. Technical refurbishment and overhaul accounted for 85% of the capacities commissioned at thermal power plants in RAO "UES of Russia" Group, while the figure for hydroelectric power plants was 62%.