OREANDA-NEWS  On 10 November was announced, that the 2008 third quarter electricity sales of JSC “OGK-6” at the day-ahead-market (DAM) jumped 96% with total electricity sales growing 27% compared to the previous quarter. The share of DAM sales in the electric power sales structure has increased from 28% to 43% as the result of the wholesale electric power market liberalization. The average sale prices of electricity at DAM and the balancing market gained 21% and 19% respectively in the third quarter to the second quarter prices. This resulted in a 43% increase of revenues from electricity which totaled 8,353 mln. rubles in the third quarter *. However, fuel costs have grown 40% to second quarter increasing the share of fuel costs in the electricity cost structure by 6,75%. Therefore the net growth of electricity prices over fuel costs along with the rising revenues have increased the third quarter gross profit to 322 mln. rubles* compared to 307 mln. gross loss in the second quarter of 2008.

* From financial statements for the nine months ended 30 September 2008 prepared in accordance with the Russian accounting standards (RAS).