3.2.9 Investments
The PAOPublic Joint-Stock Company Rosseti Ural’s investment program for 2023 was adopted by the Ministry of Energy Decree[22].
The Company’s 2021-2023 cost and physical parameters
| Metrics | 2021 | 2022 | 2023 | 2023/2022, % |
|---|---|---|---|---|
| Funding, RUBruble million plus VATvalue-added tax | 13,481 | 12,602 | 20,239 | 161% |
| Capex, RUBruble million net of VATvalue-added tax | 12,144 | 8,504 | 16,089 | 189% |
| New fixed assets, RUBruble million net of VATvalue-added tax | 11,342 | 7,298 | 14,446 | 198% |
| Commissioning of transformer capacity, MVA | 319 | 264 | 1,652 | 626% |
| Commissioning of power lines, km | 1,812 | 1,870 | 7,605 | 407% |
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 2021-2023, RUBruble million, incl. VATvalue-added tax
| Metrics | 2021 | 2022 | 2023 | 2023/2022, % |
|---|---|---|---|---|
| Total: | 13,481 | 12,602 | 20,239 | 161% |
| Connection | 6,667 | 7,369 | 11,475 | 156% |
| Reconstruction, upgrade and retrofitting | 5,080 | 4,166 | 5,784 | 139% |
| Investment projects, implemented under energy sector perspective development schemes and programs | 321 | 370 | 163 | 44% |
| Other greenfield construction of energy facilities | 75 | 136 | 182 | 134% |
| Purchase of land plots for investment projects | 0 | 0 | 0 | 0% |
| Other investment projects | 1,339 | 561 | 2,636 | 470% |
The bulk of the 2023 funding (57%) was channeled to connection. Investments spent on reconstruction, upgrade and retrofitting totaled 29%. A 13% 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 1%; funding on greenfield construction totaled 1%. As for the sources of financing, the Company’s internal funds contributed the most to the total funding (80% or RUBruble 16,224 million). Raised funds totaled RUBruble 4,016 million or 20%. We have no state-funded projects.
The largest investment projects completed in 2023
| Branch | Title of an investment project | Goals | Commissioning in 2023 |
|---|---|---|---|
| Perm region | Construction of three 6/0.4 kV modular packaged transformer substations, with transformer capacity of 2х1.25 MVA, 2х2.5 MVA, 2х1.6 MVA, with metering equipment, IATSinformation acquisition and transmission system and SC I/I, 6 kV cable line (3.856 km) | Development of the grids, related to connection of new consumers | RUB 175 million |
| Sverdlovsk region | Reconstruction of 35 kV Koltsovo substation with voltage conversion to 110 kV and 110 kV power line to supply XXXII World Summer Universiade 2023 facilities (53.2 MVA, 11.097 km, 3.629 ha, 22 pcs) | Electricity supply of XXXII World Summer Universiade 2023 facilities, execution of the connection contract with GKUSO UKSSO | RUB 1,243 million |
| Sverdlovsk region | Reconstruction of 110/35/10 kV Shpagatnaya substation, replacement of 25 MVA T-1 and 16 MVA T-2 transformers for 80 MVA transformers (2 х 40 MVA) | Development of the grids, related to connection of new consumers | RUB 170 million |
| Chelyabinsk region | Construction of 10 kV distribution station, 10 kV power line from 3С, 4С of 110 kV Paklinskaya substation | Development of the grids, related to connection of new consumers | RUB 200 million |
Long-term investment program
The PAOPublic Joint-Stock Company Rosseti Ural’s investment program for 2024-2028 was adopted by the Ministry of Energy Decree[22].
The Company’s 2024-2028 cost and physical parameters
| Metrics | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Funding, RUBruble million, incl VATvalue-added tax | 15,584 | 13,057 | 12,724 | 12,309 | 9,927 |
| Capex, RUBruble million net of VATvalue-added tax | 13,140 | 9,931 | 10,470 | 10,288 | 7,834 |
| New fixed assets, RUBruble million net of VATvalue-added tax | 15,570 | 9,187 | 10,039 | 12,250 | 7,578 |
| Commissioning of transformer capacity, MVA | 609 | 173 | 123 | 202 | 87 |
| Commissioning of power lines, km | 1,509 | 1,260 | 1,232 | 1,081 | 1,048 |
The Company’s investment program for 2024-2028 stipulates RUBruble 63,601 million (incl. VATvalue-added tax) funding, RUBruble 51,663 million (net of VATvalue-added tax) capex, RUBruble 54,623 million (net of VATvalue-added tax) new fixed assets. The Company’s 2024-2028 investment program is prepared with due allowances to regional development plans, equipment health, importance of grid facilities and current domestic environment.