Total electricity generation in Russia for the first 8 months of 2020 decreased by 3.4% year-on-year to 691.1 billion kWh, energy consumption by 2.8% to 683 billion kWh, according to the recent issue of AK&M Information Agency's "RUSSIAN INDUSTRIES: PRODUCTION, FINANCE, SECURITIES. Electric Power Industry" monthly paper (No. 1389) dated September 9, 2020.
In August, the electricity output in Russia totaled 79.8 billion kWh, which is 3.9% below the result achieved in August 2019. Electricity consumption in Russia was 78.5 billion kWh in August decreasing by 3.3% year-on-year. The average monthly air temperature was 17.6°C in August, which is 0.8°C above the previous year's average. The minor gap between the average monthly temperatures did not have a significant impact on electricity consumption in the reporting month.
In January-June 2020, electricity exports from Russia decreased by 45.7% year-on-year to 5.290 billion kWh. Export revenues decreased by 54.5% to $208.5 million. Electricity imports for the same period also decreased to 634.5 million kWh (-24.6% year-on-year) decreasing to $11.9 million (-26.8% year-on-year) in value terms. According to preliminary estimates by the Central Dispatching Department of Fuel Energy Complex (CDU TEK), 8-month electricity exports (in January-August 2020) decreased by 40.7% to 7.7 billion kWh, electricity imports by 3% to 1 billion kWh.
At the end of August, the debt liabilities on the wholesale electricity and capacity market (WECM) totaled RUB 78.566 billion. In August 2018, the debt liabilities increased by RUB 5.4 million, with a settlement ratio of 100%. In January-August 2020, the settlement ratio on the WECM was 99.4% (100% in the same period in 2019).
In 1H20, the total amount of last resort suppliers' highly liquid assets increased by RUB 8 billion year-on-year to reach RUB 48 billion, according to the results of a review by JSC Financial Settling Center (FSC). In particular, cash assets increased by 43% (RUB 40 billion), short-term financial investments decreased to RUB 8 billion (by 33%). Borrowings stayed flat at RUB 86 billion.
On September 1, the Government of Russia adopted Decree No. 1298 "On aspects of encouraging the use of renewable energy sources…" The decree is aimed at improving the schemes for supporting renewable energy projects in retail markets.
An in-depth segment review is provided in issue 1389 of the "RUSSIAN INDUSTRIES: PRODUCTION, FINANCE, SECURITIES. Electric Power Industry" monthly paper dated September 9, 2020.
