Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

OGK-6 Profits Down in H1

Wholesale generating company OGK-6 saw net profit fall 34 percent to 566 million rubles in the first half of 2011 under Russian accounting standards, the company reported Friday.

The decline was the result of higher interest expense combined with declining interest income and other revenue. In the second quarter, OGK-6 incurred losses of 644 million rubles ($23.27 million) versus profits of 50.4 million rubles for the same quarter last year. The company attributed the swing to seasonal factors, increased fuel costs, repairs and additional bad debt reserves.

The company increased production of electric power by 3.4 percent to 17 billion kWt hours in the first half of 2011. Thermal energy output at OGK-6 power stations dipped 1.5 percent year on year to 2.38 million gCal.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more