1. Market Overview
31 December 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 4.0% YoY alongside with unfavorable domestic market conditions in the 2nd price zone where electricity price decreased 5.7% YoY;
KOM’s capacity prices in the wholesale market went up by 16.5% YoY;
Capacity payments for CDA objects grew on average 27.7% YoY due to increased yields of long-term government bonds, adjusted mechanism for calculating the day-ahead market coefficient sand the CPI-indexed operating expenses and delta CDA payments for a number of objects after the 7th year of capacity delivery
Capacity Deliver Agreements (CDA) resulted in an average from 4.5 and 8.7 times higher price level in comparison with other segments of the capacity market.
Electricity Price Dynamics on the Spot Market, RUB/MW/hour
Change
1st price zone
+4.0%
2nd price zone
-5.7%
Capacity Price Dynamics on the Wholesale Market
ths RUB/MW/month (1)
2016
2015
Change
Regulated agreements
144,887
130,696
+10.9%
CDA
958,046
750,395
+27.7%
КОМ
136,075
116,824
+16.5%
Forced-mode regime
210,680
212,864
-1.0%
Expensive generation
0,0 -
Free bilateral agreements
109,961
104,746
+5.0%
Electricity Sales Breakdown on the Wholesale Market, 2016, TW*h(2)
Capacity Sales Breakdown, 2016(3)
CDA 14.4%
Regulated agreements 30.3%
Forced-mode regime 5.7%
KOM 13.9%
Free bilateral agreements 35.7%
Regulated Contracts
21.5
Free market 78.5%
The total volume of sales: TW*h
The total volume of sales: 25.7GW
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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 (Russian generation)
For Russian assets only
Market Overview