Wholesale Market

The FOREM is a system of contractual relationships among its numerous participants (market players) connected to the UES of Russia.

FOREM
participants which have entered into contracts to sell/buy electricity (capacity)
and provide services, as at 1 January 2003

Results of FOREM Activities

In 2002, FOREM electricity (capacity) suppliers sold 298.6 TWh of electricity at the average tariff of RUB 327.63 per MWh, for the total amount of RUB 117.4 billion (inclusive of VAT). Compared to 2001, the supplies in terms of volume decreased by 0.07% while increasing in terms of value by 15%. The generation by thermal power plants fell slightly compared to last year, from 90.75 TWh in 2001 to 90.7 TWh in 2002. The cost of commercial output of this group of suppliers grew by 9.1%. The change in the water usage regulations in the European part of Russia led to a reduction in the share of HPP generation in the FOREM's aggregate balance. Supplies of electricity by HPPs totalled 58.3 TWh, falling 14% from last year, while increasing 3% in terms of value. Compared to last year, the electricity supplies by NPPs grew 3.6% (19.7% in terms of value). The excess regional energos increased their share of generation: electricity supplies increased 32% in terms of volume and 9% in terms of value.

In 2002, the volume of electricity sold to buyers on FOREM amounted to 289.963 TWh, compared to 287.996 TWh in 2001. The volume of electricity supplied to the Russian buyers made 275.747 TWh of electricity, which makes 95% of the total supplies.