Investment activities
- Financing of the Investment Programme — RUB 1,239.8 bln, VAT included
- Commissioning of fixed assets — RUB 1,236.9 bln, VAT excluded
- Commissioning of transformer capacity — 31.5 GVA
- Commissioning of power transmission lines — 78,900 km
The Rosseti Group has an extensive investment programme.
The goals of the Rosseti Group’s investment programme are as follows:
- To develop main and interregional power grids as part of the electric power complex of the Russian Federation
- To ensure reliable and uninterrupted transmission of electric power to consumers
- To ensure functioning of the wholesale market
- To facilitate joint operation of the Russian electric power system and electric power systems of foreign countries
- To ensure the economically sustainable and profitable operation of the Rosseti Group
- To improve the quality and reliability of electricity supply for end consumers
- To maintain tariff‑based sources of investment in grid renewal and expansion
- To grow the Company, while creating of added value both in the electric power industry and in new markets
- To bolster interaction with consumers, the Rosseti Group and investors
Rosseti Group’s investment programme is reviewed annually to align it with industry development plans and customer needs.
The investment programme is financed primarily from the Rosseti Group’s own funds. The share of borrowed funds in the investment programme budgeting is 14%.
The indicators are on the downward trend, which is explained by the absence of approved long‑term investment programmes for some subsidiaries of the Rosseti Group, including PJSC Rosseti, in the period from 2026 to 2028.
— Grid infrastructure is one of the basic systems that influence the national energy security and lay the groundwork for social and economic growth. The Rosseti Group is now dealing with ambitious tasks associated with the electrification of the Eastern Railway Range and higher reliability of power supply to consumers, including in the North Caucasus, as well as other fundamental issues.
Along with this, every year we see an increasing imbalance between target and system financing. Tariff sources along are not enough to fulfil of all existing tasks, and therefore the investment mechanisms need to be revised.
Though there are federal budget funds allocated, which are planned for reliability improvement programmes, however, electrification of the Eastern Range and debottlenecking are system projects that are implemented upon targeted business requests. For these projects, we suggest financing mechanisms that are similar to capacity delivery agreements (CDA) in the generation sector. Another option is to use funds from the positive unbalance of the Nodal Price Difference Fund (NPDF).
Implementation of Rosseti Group’s investment programme in 2023
In 2023, the Rosseti Group implemented a record‑setting investment programme, covering the power supply to new transport, industrial and social facilities, and residential complexes, including those built under national projects in accordance with the Decree of the President of the Russian Federation, Vladimir PutinPresidential Decree No. 204 dated 7 May 2018 «On National Goals and Strategic Objectives for the Development of the Russian Federation until 2024»..
In the reporting year, the Rosseti Group managed to meet the investment programme targets, while maintaining the planned level of financing. Commissioning of fixed assets in value terms exceeded the target by 17%, commissioning of transformer capacity — by 18%, and commissioning of PTLs — by 24%.
- Nizhneangarskaya – Ust‑Kut 500 kV OTL with Nizhneangarskaya 500 kV substation
- Zilovo – Kholbon 220 kV OTL, Zilovo – Mogocha 220 kV OTL
- Ust‑Ilimskaya HPP – Ust‑Kut No. 3 500 kV OTL
- Komsomolskaya – Start No. 1 220 kV OTL
- Yartsevo (grid connection of JSC Special Economic Zone of Technology and Innovation Dubna)
- Renovation of Pasechnaya 110 kV substation
- Renovation of Adler 110 kV substation
- Renovation of Kudepsta 110 kV substation
- Renovation of Tavricheskaya – KNS‑5 110 kV OTL
- Sorovskaya 2 110/35/6 kV substation with 110 kV OTL
- Ust‑Kut – Kovykta 220 kV OTL
- Renovation of NPS‑7 – NPS‑9 220 kV OTL
- Ozernaya 220 kV substation and Chita – Ozernaya 220 kV OTL
- Renovation of Taiga 220 kV substation – Razdolinskaya 220 kV substation, Priangarskaya – Razdolinskaya 220 kV OTL
- Nyuya 220 kV substation and Nyuya – Chayanda 220 kV OTL
- Khimkombinat 500 kV substation with renovation of Zeyskaya HPP – Amurskaya 500 kV OTL
- Nergen 500 kV substation
- Upgrade of 300 transformer substations/power distribution substations
- Nizhneangarskaya – Taksimo 500 kV OTL
- Nizhneangarskaya – Ust‑Kut No. 2 500 kV OTL
- Agorta – Dauria 500 kV OTL with Dauria 500 kV substation and Agorta 500 kV substation
- Makkaveevo – Chita 220 kV OTL
- Prizeyskaya – Elgaugol 220 kV OTL with Elgaugol 220 kV substation
- 330 kV OTL from Kursk NPP – Sumy Severnaya 330 kV OTL to Belgorod 330 kV substation
- Troitskaya 110 kV substation with 110 kV PTL
- Chapaevskaya 220 kV substation with 220 kV OTL
- Novaya 220 kV substation with 110–220 kV PTL
- Renovation of 17 facilities in the Republic of Dagestan
- Renovation of 4 facilities in the Chechen Republic
- Moskovskaya 110 kV substation with 110 kV OTL
- Shakurovskaya 110 kV substation with 110 kV OTL
- Renovation of Snezhnaya – Khanty Mansiyskaya 110 kV OTL
- Turan – Tumannaya 220 kV OTL
- Renovation of Oznachennoye 500 kV substation
- Renovation of Kyzylskaya 220 kV substation
- Renovation of Lozovaya – Nakhodka 220 kV aerial cable line
- Zavodskaya 110 kV with 110 kV OTL
Implementation of PJSC Rosseti’s Investment Programme
PJSC Rosseti’s investment programme is aligned with opinions of key stakeholders, including consumers, federal and regional authorities, and relevant ministries and agencies, as well as strategic objectives for developing grid infrastructure and strengthening the national energy security.
Thus, the programme for 2023–2024 incorporated the comments and proposals received during the public discussion of the draft document in March 2023, initiatives of federal executive authorities, constituent entities of the Russian FederationIn accordance with the procedure defined by Resolution of the Government of the Russian Federation No. 977 dated 1 December 2009., as well as decisions of the Minenergo of Russia.
The document includes measures to improve energy security of the Russian Federation, increase the capacity of controlled cross‑sections between the Interconnected Power System (ICPS) of the Urals and the ICPS of Siberia, increase the efficiency of interconnection capacity utilisation, and ensure the possibility of additional transmission of electric power and capacity from the ICPS of the Urals to the ICPS of Siberia in low‑water years.
PJSC Rosseti’s investment programme also takes into account grid connection projects, as well as new interconnection measures for parallel synchronous operation of the ICPS of Siberia and the ICPS of the East. This will make it possible to launch a competitive market pricing mechanism for electricity and capacity in the eastern regions and improve the reliability and quality of power supply to consumers.
The total amount of investments planned for 2023–2024 is RUB 583.6 billion. Implementation of PJSC Rosseti’s investment programme will address the main crucial tasks of maintaining the technical condition of the UNPG, including the nationwide tasks of ensuring the operation of critical facilities, including socially important ones.