Global Leader in Hydro Power and Aluminium
Electricity Prices Mainly Increase with Inflation
Ent
GROUP
Wholesale electricity sales
Spot
Balancing
market
Free
bilateral
contracts
Regulated
contracts
(RC)
•
Auction of price bids and volumes submitted by the power
producers and consumers a day in advance of actual delivery on an
hourly basis
Day ahead market is managed by ATS with price based on marginal
pricing mechanism
En+ 2019 sales
volume
27.2 TWh
Additional online auction held by the System Operator every hour
5.5 TWh
Prices and volumes are determined at sole discretion of the supplier
and the purchaser of electricity
Sales to UC Rusal through free bilateral contracts are based on long-
term power supply agreements signed in October 2016 (37.6 TWh of
electricity to be supplied annually and electricity price set at a rate
3.5% below electricity spot price)
Signed between the power producers and power sales companies
who buy on behalf of residential consumers
Regulated tariffs are set by FAS and generally indexed to inflation
Retail electricity sales
Retail prices include capacity charge and grid tariff
Supply companies purchase electricity and capacity from the
wholesale power market
2019 revenue
contribution²
Development of electricity prices
(RUB/MWh)
13%
14%
39.3 TWh
3
Retail
1956
1956
1914
1 768
Spot
928
0.2%
888
865
830
3.8 TWh
811
752
773
713
Free bilateral
587
622
659
contracts
636
Balancing market
528
Retail
Tariffs for residential customers are regulated and indexed to
inflation or just near inflation
17.8 TWh¹
.
Sale of power to other non-regulated customers are done at non-
regulated prices
149
113
100
115
18%
Regulated contracts
2016
2017
2018 20194 2020 4
Source: FAS (Federal Antimonopoly Service), System Operator, ATS (Joint-stock company "Administrator of the trading system of the wholesale electricity market"), Federal laws, SEEPX Energy
(1) Retail sales volumes are on net basis (including intercompany eliminations).
(2) Based on Power segment 2019 revenue of USD 2,989 mn, of which 15% contributes to other revenues
(3)
En+ actual retail prices
(4) For 2020 is a forecast by NP Market Council
En+ Group overview
Investment highlights
Sustainable business
Results snapshot
development
Power segment
Metals segment
40
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