Fortum is recognized leader in implementation of investment programmes

​Fortum’s subsidiary OAO Fortum has been selected as the leader in implementation of investment programmes in Russia. The rating was made by the Market Council, which evaluates the performance of energy companies in Russia’s electricity and capacity markets. The companies were rated based on investments realised by the end of September 2011 and those announced for implementation by 2017.

The extensive investment programme being implemented by Fortum’s subsidiary OAO Fortum, which operates in the oil- and gas-producing regions of the Urals and West Siberia, will increase electricity production capacity from about 2,800 megawatts (MW) to about 5,100 MW. The plan is to complete the investment programme by the end of 2014.

The first of the seven units within the framework of the investment programme, Fortum’s new unit at the Tyumen CHP-1 power plant in West Siberia, was inaugurated in December 2010. The unit started commercial operation in February 2011. The new units at Chelyabinsk and Tobolsk were also commissioned last year. Construction of the new Nyagan power plant continues in the West Siberia. After completion, the plant will produce electricity with three natural gas-fired, 418-MW units.

Electricity wholesale markets were liberalised in Russia at the beginning of 2011. The new production capacity built after 2007 under the capacity supply agreements (CSA) will receive guaranteed payments for a period of 10 years.

What is Russia’s Market Council?

Russia’s Market Council was established in 2001 in conjunction with the Russian power reform. One of the most important tasks of the Market Council is to maintain the operation of the wholesale markets’ commercial infrastructure and to ensure efficient collaboration between the wholesale and retail markets.

For additional information:
Denis Litoshik, PR and Communications Director, tel. +79853835261