TGC-1

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.

TGC-1
Native name
ТГК-1
Public (PJSC)
Traded asMCX: TGKA
IndustryPower generation
PredecessorLenenergo
Kolenergo
Karelenergogeneratsiya
Founded25/03/2005
FounderRAO UES
HeadquartersNevsky 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
Alexey Barvinok (CEO)
Productselectric power and heat
Revenue$NaN[1] (2019)
$NaN[1] (2019)
$NaN[1] (2019)
Total assets$NaN[1] (2019)
Total equity$NaN[1] (2019)
ParentGazprom Energoholding
Websitewww.tgc1.ru

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 55 thermal, hydro and co-generation stations in Saint Petersburg, Leningrad Oblast, Murmansk Oblast and Karelia. It has an installed generation capacity of 6,278.4 MW of electric power. In addition, TGC-1 is the major supplier of district heating in Saint Petersburg, Petrozavodsk, Murmansk, Apatity and Kirovsk with 17,158.9 MV of heating capacity.

The company operates through three branches – Nevsky, Karelsky and Kolsky. In addition, it has subsidiaries Murmanskaya CHP (84.06%) and Severnaya energeticheskaya upravlyayushchaya kompaniya (100%).

Shareholders

The company's main shareholder is Gazprom through its power generation holding Gazprom Energoholding, which owns 51.78% of shares. Finnish Fortum owns 25.66% of shares.[3] The company shares are traded at the Russian Trading System and the Moscow Interbank Currency Exchange.

There are talks between Gazprom and Fortum concerning spinning of the hydrogenerating assets of the company. Also RusHydro is interested to acquire the company's hydroassets.[4]

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References
  1. http://www.tgc1.ru/fileadmin/ir/reports/ifrs/2019/tgc-1_ifrs_fs_2019_rus_.pdf.
  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.
  4. "Russian Federation : Gazprom could sell TGK-1 hydro assets to Fortum". HydroWorld.com. PennWell Corporation. 2010-05-20. Retrieved 2010-07-08.
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