Company News

JSC TGC-1 releases its interim abbreviated unaudited consolidated Financial Statements for the 6 months period, ended June 30, 2012 prepared in accordance with International Financial Reporting Standards (IFRS).

Traditional meeting of Finnish ecologists and hydroenergetics specialists from Russia and Norway was held in the village of Lake Inari Nellim from 22 to 24 August. It was organized by the Center for Economic Development, Transport and the Environment Province of Lapland (Finland).

According to Karelia’s hydrometeorology and environment monitoring center, the equivalent of one month’s worth of rain fell on the basin of the River Nizhny Vyg in less than 12 hours on 8 August. First the dam at Lake Soldatskoe was breached, after which the nearby railroad bed was washed out, with water rushing through and forcing its way to the Matkonezhsky Stream dam. Soon after, the water level rose above the dam crest, causing destruction of the dam’s water-retaining structures.

TGC-1 has published its financial report for the first half of 2012 under Russian financial accounting standards.

TGC-1 has drawn its production results the results of its production activity in the first half of 2012.

The connection of power plant No 2 of the Central CHPP of JSC TGC-1 to the city water supply system will be completed in August, 2012.

The first meeting of the Board of Directors of JSC St. Petersburg Heating Grid in its new composition as elected by the Annual General Meeting of the Shareholders of the Company on June 29, 2012 took place on July 24, 2012. The Board of Directors elected Andrey Filippov, General Director of JSC TGC-1, to be the Chairman of the Board. Filippov was also elected last year.

Power engineering specialists of TGC-1 completed the complex of construction and installation works to replace transformer No2 on Verkhne-Tulomskaya HPP.

JSC TGC-1 Pravoberezhnaya CHPP held a complex drill for organization of interaction and control of the work force and resources of object section of the Russian Emergency System and related organizations for location and elimination of accidental spills of furnace fuel oil on July 26, 2012.

Ivan Dubrovsky the former Head of the Department for Monitoring and Accountability of Preparation and Implementation of Repairs of JSC TGC-1, was appointed Head of the Department for Preparation and Implementation of Repairs of JSC TGC-1 on July 23, 2012.