3.2.9 Investments
Investing parameters
The OAOOpen Joint-Stock Company IDGCInterregional Distribution Grid Company of Urals’ investment program for 2022 was adopted by the Ministry of Energy Decree[24]. The Company’s 2020-2022 cost and physical parameters are presented in the table:
| Metrics | 2020 | 2021 | 2022 | 2022/2021, % |
|---|---|---|---|---|
| Funding, RUBruble million plus VATvalue-added tax | 9,633 | 13,481 | 12,602 | -7% |
| Capex, RUBruble million net of VATvalue-added tax | 9,255 | 12,144 | 8,504 | -30% |
| New fixed assets, RUBruble million net of VATvalue-added tax | 9,278 | 11,342 | 7,298 | -36% |
| Commissioning of transformer capacity, MVA | 402 | 319 | 264 | -17% |
| Commissioning of power lines, km | 2,055 | 1,812 | 1,870 | 3% |
Implementation of the investment program includes handling of the following problems:
- maintenance of operability of equipment that provides reliable, no-break and high-quality power supply;
- execution of liabilities under connection contracts;
- enforcement of security of equipment and personnel performance;
- provision of the transmitting capacitance of the networks for sustainable performance and connection of consumers;
- increase of anti-diversionary protection and counter-terrorist security of energy facilities.
Investment funding structure in 2020-2022:
| RUBruble million, incl VATvalue-added tax | 2020 | 2021 | 2022 | 2022/2021, % |
|---|---|---|---|---|
| Total: | 9,633 | 13,481 | 12,602 | -7% |
| Connection | 5,440 | 6,667 | 7,369 | 11% |
| Reconstruction, upgrade and retrofitting | 2,690 | 5,080 | 4,166 | -18% |
| Investment projects, implemented under energy sector perspective development schemes and programs | 66 | 321 | 370 | 15% |
| Other greenfield construction of energy facilities | 59 | 75 | 136 | 81% |
| Purchase of land plots for investment projects | 0 | 0 | 0 | 0% |
| Other investment projects | 1,377 | 1,339 | 561 | -58% |
The bulk of the 2021 funding (59%) was channeled to connection. Investments spent on reconstruction, upgrade and retrofitting totaled 33%. Greenfield construction has the smallest share in the structure (1%). A 4% share of the total funding was spent on other investment projects (ready-to-operate devices, IT projects, etc.), funding of the investment projects, implemented under the energy sector perspective development schemes and programs totaled 3%. As for the sources of financing, the Company’s internal funds contributed the most to the total funding (88% or RUBruble 11,134 million). Raised funds totaled RUBruble 1,468 million or 12%. We have no state-funded projects.
Outcomes of the activities enlisted in the 2022 investment program.
- evaluation of changes in the share of net supply, measured by meters integrated into the data collection and transmission system:
| Investment project | ID code | Actual values |
|---|---|---|
| Installation of meters in compliance with the Federal Law[25] after breakdown of a consumer’s meter, voltage class 0.2 (0.4) kV (3,154 devices) | I_PE856 | 0,00113 |
| Installation of meters in compliance with the Federal Law [25] after the expiry of calibration period or service life or if a consumer lacks a meter (Perm region, voltage class 0.22 (0.4) kV (75,746 devices) | I_PE857 | 0,00250 |
| Roll-out of metering systems on the retail electricity market (6-10 kV). Upgrade/build-up of MIS. Remote metering. Replacement of CTcurrent transformer and VTvoltage transformer 6-10 kV, meters (0.007 km, 516 devices, DA&TD — 86 devices) | J_SE2143 | 0,00002 |
| Installation of meters in compliance with the Federal Law[25] after breakdown of a consumer’s meter, voltage class 0.22 (0.4) kV (22,388 devices) | H_ChE1382 | 0,00276 |
| Installation of meters in compliance with the Federal Law[25] after the expiry of calibration period or service life or if a consumer lacks a meter, voltage class 0.22 (0.4) kV, (19,284 devices, CTcurrent transformer — 3 devices) | H_ChE1384 | 0,00090 |
| Installation of meters in compliance with the Federal Law[25] after the expiry of calibration period or service life or if a consumer lacks a meter, voltage class 6 (10) kV, (137 devices) | I_ChE1750 | 0,00035 |
| Installation of meters in compliance with the Federal Law[25] after breakdown of a consumer’s meter, voltage class 6 (10) kV, (35 devices) | K_ChE3060 | 0,00012 |
- Level of SAIDISystem Average Interruption Duration Index completion: 99%;
- Level of SAIFISystem Average Interruption Frequency Index completion: 99%;
- total connection liabilities executed under the investment program reached 25,612 connections;
- maximum capacity of connected consumers, generating facilities, grid facilities owned by other grid companies or persons totaled 612 MWmegawatt.
The largest investment programs completed in 2022:
| Region | Title of the investment program | Goals | Commissioning in 2022 |
|---|---|---|---|
| Perm region | Construction of 110 kV cable power line “Danilikha — Bereg” (4.124 km, OC – 2 lines) | Development of grids, provision of communications between right and left banks of the Kama river, distribution of capacity to eliminate capacity deficit in the central part of Perm | RUB 377 million |
| Reconstruction of 110 kV aerial power line “Yayva – Solikamsk I,II” (2х46.239 km)* – Stage 4 | Grids upgrade, reduction of failure effects, increase of technical status index | RUB 27 million | |
| Reconstruction of 110 kV aerial power line “Titan – Solikamsk I, II” and branch line to 110 kV “Mineral” substation (2х13.257 km) (Stages 1 and 2) | Grids upgrade, reduction of failure effects, increase of technical status index | RUB 124 million | |
| Sverdlovsk region | Construction of 10 kV distribution networks for power supply of XXXII Universiade 2023 facilities (12.5 MVA, 19.643 km, devices-1, 3 pcs)* – Stages 1, 2, 5 | Power supply of XXXII Universiade 2023 facilities, discharging of liabilities under the contract with GKUSO “Capital Construction Directorate of the Sverdlovsk region” | RUB 532 million |
The OAOOpen Joint-Stock Company IDGCInterregional Distribution Grid Company of Urals’ investment program for 2023-2027 was adopted by the Ministry of Energy Decree[24].
The Company’s 2023-2027 cost and physical parameters are presented in the table:
| 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|
| Funding, RUBruble million, incl VATvalue-added tax | 12,829 | 10,380 | 9,627 | 9,808 | 9,942 |
| Capex, RUBruble million net of VATvalue-added tax | 9,792 | 7,999 | 7,595 | 8,395 | 8,236 |
| New fixed assets, RUBruble million net of VATvalue-added tax | 10,770 | 8,870 | 7,232 | 8,720 | 8,183 |
| Commissioning of transformer capacity, MVA | 620 | 287 | 130 | 119 | 99 |
| Commissioning of power lines, km | 1,762 | 1,270 | 1,375 | 1,323 | 1,429 |
The Company’s investment program for 2023-2027 stipulates RUBruble 52,585 million (incl. VATvalue-added tax) funding, RUBruble 42,018 million (net of VATvalue-added tax) capex, RUBruble 43,776 million (net of VATvalue-added tax) new fixed assets. The Company’s 2023-2027 investment program is prepared with due allowances to regional development plans, equipment health, importance of grid facilities and current domestic environment.