Exec says Inter RAO forecasts record exports, profit in Jan–Mar

MOSCOW, Mar 24 (PRIME) -- Russian power holding Inter RAO, the operator of the country’s exports and imports of power, expects its power exports and profit to hit a record in January–March 2021, Alexandra Panina, acting head of the trading department, told reporters on Wednesday.

“Exports in the first quarter are the highest in the company’s entire existence,” she said, adding that Finland and the Baltic states as the key export countries.

“We are going to hit a record profit as well … even though it is the first quarter of a difficult and transitional year of 2021.”

Cold weather and a consequent increase of power consumption played their part, but the indicators should worsen in April–June and July–September when the weather factor will disappear while the coronavirus restrictions will remain in place. Results of the year of 2021 should be slightly below the results of 2019, she said.

Inter RAO also expects power exports to Ukraine to fall due to the warm air temperatures in March. The company also hopes that exports to the country will continue in April, even though Ukraine is not a key export direction, she added.

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