TGC-1

TGC-1

Native name	ТГК-1
Company type	Public (PJSC)
Traded as	MCX: TGKA
Industry	Power generation
Predecessor	Lenenergo Kolenergo Karelenergogeneratsiya
Founded	25/03/2005
Founder	RAO UES
Headquarters	Nevsky branch: Saint Petersburg Karelsky branch: Petrozavodsk (Republic of Karelia) Kolsky branch: Murmashi (Murmansk Oblast), Saint Petersburg , Russia
Area served	St. Petersburg, Leningrad Oblast, Murmansk Oblast, Republic of Karelia
Key people	Vadim Vederchik (CEO)
Products	electric power and heat
Revenue	$1.23 billion[1] (2020)
Operating income	$15 million[1] (2020)
Net income	$114 million[1] (2020)
Total assets	$2.65 billion[1] (2020)
Total equity	$1.93 billion[1] (2020)
Parent	Gazprom Energoholding
Website	www.tgc1.ru

TGC-1 (also referred as TGK-1; full name: Territorial generating company number 1; Russian: ТГК-1, Territorial’naya generiruyushchaya kompaniya No 1; traded as MCX: TGKA) is a regional power company operating in North-West Russia. The company has its headquarters in Saint Petersburg with branches in Karelia and Kola.

History

The company was created in 2005 by the merger of Lenenergo, Kolenergo and Karelenergogeneratsiya power companies. Formation of the new company was announced on 1 March 2005 by Lenenergo, Kolenergo and RAO UES.^[2] The company was officially registered on 25 March 2005 and began to operate on 1 October 2005. The integration of predecessor companies was completed on 1 November 2006. The majority shareholder of this time was RAO UES.

Operations

The company operates 52 thermal, hydro and co-generation stations in Saint Petersburg, Leningrad Oblast, Murmansk Oblast and Karelia. It has an installed generation capacity of 6,92 GW of electric power. In addition, TGC-1 is the major supplier of district heating in Saint Petersburg, Petrozavodsk, Murmansk, Apatity and Kirovsk with 13,49 thous GCal/hr of heating capacity.

The company operates through three branches – Nevsky, Karelsky and Kolsky. TGC-1 includes the following subsidiaries: JSC Murmanskaya CHPP (power supply of Murmansk and surrounding areas, share in authorised capital — 98.85%), JSC St. Petersburg Heating Grid (connection of heating networks in the area of operation of the Company's CHPPs, share in authorised capital of 65.58%), as well as dependent companies of JSC HHC (transfer of heat energy from the Apatitskaya CHPP to consumers in the city of Kirovsk, with a share in authorised capital of 50%) and TGC-Service LLC (specialised repair company, share in authorised capital - 26%).

Shareholders

The company's main shareholder is Gazprom through its power generation holding Gazprom Energoholding, which owns 51.79% of shares. Finnish Fortum owns 29.45% of shares.^[3] The company shares are traded at the Russian Trading System and the Moscow Interbank Currency Exchange.

References

1. "Consolidated financial statements under IFRS 12 months 2020" (PDF). TGC-1. 11 March 2021. p. 56. Retrieved 11 March 2021.
2. "Fortum to be shareholder of new Russian power company". Nordic Business Report. Gale (requires subscription). 2005-03-01. Retrieved 2010-03-06.
3. "Gazprom boosts control over TGK-1". Barents Observer. 2010-01-13. Retrieved 2010-03-06.

External links

• Official website