OREANDA-NEWS. June 7, 2012. TGC-2 retained earnings was 1,159 billion rubles in 1 quarter 2012, it is 152 million rubles more than at the same period of 2011. The carried interest has increased for 35% - 1,797 billion rubles.

TGC has done additional measures to reduce costs, loan portfolio decrease and financial condition of company improvement. As the result TGC-2 has decreased credit instruments for 2,3 billion rubles. The restricted short term credits would be send to finance the investment activity for liquidity improvement.

TGC-2 continues to realize measures for cost saving. There was equipment transfer from costly fuel oil to gas using on Arkhangelskaya TEC and Severodvinskaya TEC last year. Fuel costs came down for 1,3 billion rubles. The long-term programs of renewal generation equipment and heating system , energy efficient programs would be realized current year.

- The renewal generation equipment and heating system in our regions, the system management of costs and finances would make possible to achieve the main goals, - as General director of JSC “TGC-2” Vladlen Alexandrovich said.

Public JSC Territorial Generating Company # 2 (TGC-2) was established by the RAO UES of Russia resolution on February 25, 2005. The Company passed the State registration procedures on April 19, 2005. The shaping principle of TGC-2 is merger with the Regional Generating Companies, which were established as a result of AO-energo reform.

TGC-2 is a leading heat and power company in the Northern and Northwest parts of Russia. The Company activities cover heat and power production as well as sale of heat (steam and hot water) to consumers. TGC-2 comprises generating capacities of 6 regions - Arkhangelsk, Vologda, Kostroma, Novgorod, Tver and Yaroslavl. TGC-2 operates 15 heat CHPPs, 11 boiler-houses, 5 enterprises of heat pipelines. The aggregate installed electric capacity of TGC-2 enterprises is 2532,5 MW, the aggregate installed thermal capacity constitutes 11658,833 Gcal/h.