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Energoatom-Trading improved its key performance indicators significantly in the first quarter of 2021 – Hartmut Jakob

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13.04.2021

Changes in Energoatom-Trading sales strategy introduced in December 2020 – January 2021 expectedly made for significant key performance indicators improvement in the first quarter of 2021.  This was announced by Hartmut Jakob, EnergoatomVice President, Head of Energoatom-Trading, during a press conference on the current Company's performance.

Energoatom-Trading has increased sales under bilateral agreements (excluding PSO) significantly, which allows for better revenue forecasting. Thus, more than 2.8 million MWh of electricity was  sold under bilateral agreements this March, which is a record high for the Company.

More payments were received on a prepaid basis as well, Hartmut Jakob stressed, and this is of utmost importance for the financial balance of Energoatom's operation, especially under the current PSO conditions and given the billions in debt owed by SE «Guaranteed Buyer» to NNEGC.

Mr. Jakob added that Energoatom-Trading for the first time in the domestic market sold electricity for long periods ahead: in December 2020 the «basic» schedule provided for delivery for six months while  in March 2021«night» schedule provided for delivery for 9 months.  Such sales «for a long time» are in line with European and global practice and guarantee a predictable and stable cash flow. Furthermore, Energoatom now conducts more electronic auctions, including for night products, which are the most difficult to sell, resulting in involving more bidders.

 «We analyze the day-ahead market and intraday market dynamics daily as well as work upon increasing sales efficiency in these segments,» Hartmut Jakob assured. «In February 2021, our bids acceptance in the day-ahead market and intraday market amounted to 68%, whereas in March 2021 it reached 76%.»

In general, Energoatom's income from electricity sales in the market has increased significantly, payment has become reliable and prompt, and the cash flow structure in the Company has improved substantially, Mr. Jakob summed up.