Inter RAO Group insures new power units against downtime for almost RUB 100 bn

Under this program, 19 power units of  JSC Inter RAO — Electric Power Plants, the Nizhnevartovskaya TPP and TGK-11 have been insured since the beginning of the year for the total amount of RUB 94 bn.

Entrepreneurial risk insurance will allow Inter RAO Group companies, in case of new power units downtime,  to recover damages caused by a decrease in the planned revenue on the capacity market and reimburse additional costs related to preventing or minimizing this decrease. A maximum period for recovery (recovering losses related to the decrease in the revenue) is up to two years. Insurance agreements also stipulate the procedure for recovering the damages related to interruption to the business based on the rules and principles of the Wholesale Electricity and Capacity Market operation.

"More than 60% of the insurance risk is reinsured using additional capacity of international reinsurance companies with the financial reliability rating of A- and higher on S&P scale," said member of the Management Board - Chief Financial Officer of PJSC Inter RAO Evgeniy MIROSHNICHENKO. "Insuring power equipment against downtime is global practice which is gradually introduced in Russia. Reliable insurance and reinsurance increases financial stability and protection of Inter RAO Group companies, which is to ensure even better and uninterrupted power supply to consumers."