In the first half of the year the company earned 2.13 billion rubles

Inter RAO's net profit for the first half of the year fell by almost half, and revenue decreased by more than a third. In particular, revenue from the sale of electricity on the domestic market fell by 52% and export revenue decreased by 36.2%.

Photo: Oleg Kharseev, Kommersant / buy photo

Net profit of Inter RAO according to RAS in the first half of the year decreased by 48.8%, to 2.13 billion rubles. The company said this in a report published on Monday.

Revenue decreased by 36.4%, to 14.7 billion rubles. Revenue from electricity sales on the wholesale market dropped by more than half, amounting to RUB 4.1 billion. As the company explains, the decrease is due to the cessation of its own electricity production, a decrease in the volume of supplies to the domestic market due to a decrease in the volume of imports and transit flows between the European part of Russia and Siberia.

The volume of export revenue decreased by 36.2%, to 8.3 billion rubles. due to a decrease in export volumes (by 34.6%, to 6.46 billion kWh) and a decrease in the price of the Scandinavian NordPool market, where the average spot price in the first half of the year decreased by 14.9% compared to the first half of 2013 (from € 40.99, up to €34.86 per MWh). As Inter RAO explains, the main decrease in export volumes in physical terms occurred in the destinations of Finland, Belarus and Lithuania (by 50.9%, 52.9% and 36.8%, respectively). The volume of imports also decreased - by 27.8%, to 1.85 billion kWh.

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Inter RAO's profit dropped by half