| |
Rate of tariff, Rub/MW month | Compared to previous year, % |
|---|---|---|
| 2011 | 116 782,52 | 32,91% |
| 2012 | 148 257,05 | 26,95% |
| 2013 | 179 538,84 | 21,1% |
| 2014 | 206 910,98 | 15,2% |
The following tariff rates for transmission services by the unified electricity transmission grid system apply to North Caucasus republics and Stavropol Region:
| |
Rate of tariff, Rub/MW month |
|---|---|
| 2011 | 46,029.88 |
| 2012 | 58,435.58 |
| 2013 | 70,765.31 |
| 2014 | 81,554.06 |
According to an earlier decision by FTS, the annual rate of return on newly invested capital has been set at 11% until the end of 2012 and at 10% after 2012. The rate of return on original invested capital has been set at 5.2% for 2011, 6.5% for 2012, 7.8% for 2013 and 9.1% for 2014. The original invested capital as at 1 January 2010 (iRAB) was approved at Rub 647.6 billion. The term of full return on invested capital is circa 35 years.
JSC “FGC UES” (“Federal Grid” or the “Company”) is the operator and manager of Russia’s unified electricity transmission grid system. With over 121,000 km of transmission lines and over 305 GVA of installed transformer capacity, it is the largest publicly traded electricity transmission company in the world.
Federal Grid’s business is to provide transmission and connection services to the Russian wholesale electricity market. It maintains and develops the grid system and supervises grid facilities and infrastructure in 73 regions of Russia, in which it operates. Its customers are distribution grid companies, certain large commercial end customers and retail electricity supply companies. The Company operates in an exclusive, competition free environment, and is regulated by the Government of the Russian Federation.
The Company’s revenue is mainly driven by the transmission tariff set by the Regulator, the FST. From 1 January 2010 a new RAB (Regulatory Asset Base) tariff framework, designed to stimulate investment and operating efficiency, was introduced. The RAB tariff will be reviewed every five years, with the initial five year period to expire at the end of 2014.
The Company was incorporated in June 2002 as part of reorganization of Russia’s electrical power industry. The Russian government is the largest shareholder with a 79.1% stake. Federal Grid’s common shares are included on the RTS and MICEX stock exchanges under the ticker FEES. The company is included in the MSCI Emerging Markets and MSCI Russia indices.