Inter RAO UES heats Finland and the Ukraine

The weakening of the ruble has allowed the state-controlled company Inter RAO UES to break the trend of falling exports of electricity. In the first six months of the year, it increased by 42%, mainly due to deliveries to Finland and the Ukraine. But the most significant growth in the profitability occurred in the first quarter, analysts said, and then the ruble started increasing. At the same time, at the current record low prices on the Nordic power market Nord Pool we can expect the restoration of the profitability of the gas supplies to Europe only in the case of a sharp weakening of the ruble, the Kommersant writes.

In the first six months of this year, Inter RAO UES seriously increased the supply of electricity abroad due to the weakening of the ruble. According to head of the company’s strategy and investment department Ilnar Mirsiyapova, the export in annual terms grew by 42% (to about 9.2 billion kWh). "The main beneficiary of the growth is Finland and the Ukraine," - the top manager explained, added that the export to the east (China and Mongolia), on the contrary, decreased by 12% and 28%, respectively.