In the first half of 2013, the state company RusHydro increased electricity production by 16% compared to January-June 2012, to 66.6 billion kWh, the company reported. At the RusHydro hydroelectric power station (that is, without taking into account the thermal generation controlled by RAO ES Vostok), the increase in generation amounted to 25% - up to 50.3 billion kWh. At the same time, RAO ES of the East itself reported a decrease in output by 4.1%, to 16.3 million kWh, explaining this by the high load of hydroelectric power stations. RusHydro associates the increase in production with high water availability and the filling of reservoirs, as well as with the commissioning of the Boguchanskaya HPP, which generated 1.6 billion kWh in the first six months of 2013.

Vladimir Dzaguto

Aviaprom

GSS will receive state guarantees

A draft government resolution “On the state guarantee of the Russian Federation for a loan raised by Sukhoi Civil Aircraft CJSC (SCAC)” has been published. The document clarifies that we are talking about loans whose repayment period occurs after January 1, 2015. A source at the United Aviation Corporation (controls the State Aircraft Corporation) clarified that we are talking about guarantees for borrowings under the VEB credit line for $1 billion, opened last year. Today, the SSS debt to the development institution already exceeds $600 million. The source clarified that in parallel, the development of a mechanism for refinancing the SSS debts, which amount to over $2 billion, continues. The main option, we recall, implies that VEB’s debt will be converted into shares of the SSS or JSC Sukhoi .

Evgeniy Timoshinov

Auto industry

Automakers have been given subsidies

President Vladimir Putin signed a law on state support for manufacturers of cars and auto components operating in industrial assembly mode. The law provides for “reimbursement of costs” for automakers due to increased duties on vehicle units and components from July 1, 2018. Currently, automakers that have entered into agreements on industrial assembly import a number of components into Russia at zero or reduced duty rates. Upon joining the WTO, Russia pledged to abolish all benefits in 2018. But automakers whose agreements end in 2020 will be reimbursed for the duties paid through subsidies from the budget. In addition, the law guarantees state support for industrial collectors if, before February 1, 2014, laws “introducing any additional payment obligations” other than taxes or “cancelling benefits” associated with such payments come into force. Kommersant’s sources in the market say that “most likely, we are talking about compensation for the recycling fee,” which is planned to be extended to Russian automakers. Currently, only importers pay the fee, but the WTO demands equalization of its conditions for all market participants.

Egor Popov

RusHydro increased production