1. Market Overview
31 March 2016 year

2. Market Overview Price Dynamics on the Russian Market
Comments
Electricity and Capacity Price Dynamics
Electricity price on the spot market in the 1st price zone increased 2.1% YoY alongside with unfavorable domestic market conditions in the 2nd price zone where electricity price decreased 3.6% YoY;
KOM’s capacity prices in the wholesale market went up by 4.5% YoY;
Capacity payments for CDA objects grew on average 25.4% YoY due to increased yields of long-term government bonds, adjusted mechanism for calculating the day-ahead market coefficients and the CPI-indexed operating expenses
Capacity Deliver Agreements (CDA) resulted in an average from 4.4 and 8.5 times higher price level in comparison with other segments of the capacity market.
Electricity Price Dynamics on the Spot Market, RUB/MW/hour
Change 1q2016-1q2015
1st price zone
+2.1%
2nd price zone
-3.6%
Capacity Price Dynamics on the Wholesale Market
ths RUB/MW/month (1)
1q 2016
1q 2015
Change
Regulated agreements
148,105
129,803
+14.1%
CDA
1 030,277
821,823
+25.4%
КОМ
137,003
131,080
+4.5%
Forced-mode regime
235,356
233,139
+1.0%
Expensive generation
0,0 -
Free bilateral agreements
121,408
116,583
+4.1%
Electricity Sales Breakdown on the Wholesale Market, 1q 2016, TW*h(2)
Capacity Sales Breakdown, 1q 2016(3)
CDA 14.7%
Regulated agreements 30.9%
Forced-mode regime 5.4%
KOM 28.6%
Free bilateral agreements 20.4%
Regulated Contracts
21.2%
Free market 78.8%
The total volume of sales: 32.6 TW*h
The total volume of sales: 26.2GW
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Capacity prices dynamics is calculated on the base of nominal average price of 1MW of capacity sold in each market segment
Electricity Sales Breakdown on the Russian Wholesale Market
For Russian assets only
Market Overview