3.2.9 Investments
The PAOPublic Joint-Stock Company Rosseti Ural’s investment program for 2024 was adopted by the Ministry of Energy Decree[28].
The Company’s 2022-2024 cost and physical parameters
| Parameter | 2022 | 2023 | 2024 | 2024/2023, % |
|---|---|---|---|---|
| Funding, RUBruble million plus VATvalue-added tax | 12,602 | 20,239 | 19,494 | -4% |
| Capex, RUBruble million net of VATvalue-added tax | 8,504 | 16,089 | 16,081 | 0% |
| New fixed assets, RUBruble million net of VATvalue-added tax | 7,298 | 14,446 | 16,834 | 17% |
| Commissioning of transformer capacity, MVA | 264 | 1,652 | 832 | -50% |
| Commissioning of power lines, km | 1,870 | 7,605 | 1,780 | -77% |
Implementation of the investment program includes handling of the following problems:
- maintenance of operability of equipment that provides reliable, no-break and high-quality power supply;
- execution of liabilities under connection contracts;
- enforcement of security of equipment and personnel performance;
- provision of the transmitting capacitance of the networks for sustainable performance and connection of consumers;
- increase of anti-diversionary protection and counter-terrorist security of energy facilities.
Investment funding structure in 2022-2024, RUBruble million, incl. VATvalue-added tax
| Indicator | 2022 | 2023 | 2024 | 2024/2023, % |
|---|---|---|---|---|
| Total: | 12,602 | 20,239 | 19,494 | -4% |
| Connection | 7,369 | 11,475 | 11,367 | -1% |
| Reconstruction, upgrade and retrofitting | 4,166 | 5,784 | 5,200 | -10% |
| Investment projects, implemented under energy sector perspective development schemes and programs | 370 | 163 | 311 | 91% |
| Other greenfield construction of energy facilities | 136 | 182 | 352 | 94% |
| Purchase of land plots for investment projects | 0 | 0 | 0 | 0% |
| Other investment projects | 561 | 2,636 | 2,264 | -14% |
The bulk of the 2024 funding (58%) was channeled to connection. Investments spent on reconstruction, upgrade and retrofitting totaled 27%. A 12% share of the total funding was spent on other investment projects (ready-to-operate devices, IT projects, etc.), funding of the investment projects, implemented under the energy sector perspective development schemes and programs totaled 2%; funding on greenfield construction totaled 2%. As for the sources of financing, the Company’s internal funds contributed the most to the total funding (89% or RUBruble 17,413 million). Raised funds totaled RUBruble 2,081 million or 11%. We have no state-funded projects.
The largest investment projects completed in 2024
| Region | Title of an investment project | Goals | Commissioning in 2024 |
|---|---|---|---|
| Perm region | Reconstruction of PS 110/6 kV “Severnaya” substation (replacement of 2х16 MVA power transformers for 2х25 MVA ones, 110 kV circuit breakers, RPArelay protection automation devices) (50 MVA, 2 pcs of 110 kV GISgeoinformation system, 1 FOL) | Development of the electric grids. Reduction of emergency load of the substation. Execution of the Ministry of Energy Decree[29] | RUBruble 394 million |
| Sverdlovsk region | Construction of PS 110 kV “Chekmash” substation and branch lines to PS 110 kV “Chekmash” substation from 110 kV “Arti-Manchazh” aerial power line with branch line to PS “Siminchi” substation (40 MVA; 1.54 km of a 110 kV aerial power line; disconnector (2 pcs), circuit breaker (12 pcs) | Development of the electric grids. Execution of a contract on connection | RUBruble 498 million |
| Sverdlovsk region | Reconstruction of PS 110/35/6 kV “Pyshma” substation (grid complex of 110/35/6 kV “Pyshma” substation): 120 MVA, 110 kV aerial power line (0.542 km), 110 kV cable power line кВ (0.541 km), 35 kv aerial power line (0.301 km), 35 kV cable power line (0.380 km), 1.142 ha, circuit breakers (36 pcs) | Development of the electric grids. Execution of contracts on connection and compensation of expenses agreements. | RUBruble 1,228 million |
| Sverdlovsk region | Reconstruction of PS 110 kV “Sverdlovskaya” substation (80 MVA, 110 aerial power line (0.434 km), 110 kV aerial power line (0.135 km), 35 kV aerial power line (0.124 km), 35 kV aerials power line (0.302 km), 10 kV aerial power line (0.225 km), circuit breakers (43 pcs) | Development of the electric grids. Execution of the Ministry of Energy Decree[29] | RUBruble 939 million |
| Chelyabinsk region | Reconstruction of PS 110 kV “Kremenkul” substation (replacement of the 1st power transformer with capacity upgrade from 10 MVA to 16 MVA, installation of the 2nd power transformer with capacity 16-32 MVA, reconstruction of incoming 110 kV aerial power lines (2х3.8 km), replacement of high-speed grounding switch for 110 kV circuit breakers (3 pcs.), re-arrangement of incoming 10 kV aerial power line by changing installation method (1.273 km) | Development of the electric grids. Execution of the contracts on connection. | RUBruble 705 million |
Long-term investment program
The PAOPublic Joint-Stock Company Rosseti Ural’s investment program for 2024-2028 was adopted by the Ministry of Energy Decree[28].
The Company’s 2025-2028 cost and physical parameters
| Parameter | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Funding, RUBruble million, incl VATvalue-added tax | 17,722 | 14,424 | 13,464 | 10,790 |
| Capex, RUBruble million net of VATvalue-added tax | 14,674 | 11,317 | 11,120 | 9,349 |
| New fixed assets, RUBruble million net of VATvalue-added tax | 15,604 | 10,807 | 11,613 | 9,957 |
| Commissioning of transformer capacity, MVA | 416 | 113 | 107 | 169 |
| Commissioning of power lines, km | 1,638 | 1,172 | 1,033 | 844 |
The Company’s investment program for 2025-2029 stipulates RUBruble 56,400 million (incl. VATvalue-added tax) funding, RUBruble 46,461 million (net of VATvalue-added tax) capex, RUBruble 47,981 million (net of VATvalue-added tax) new fixed assets. The Company’s 2025-2029 investment program is prepared with due allowances to regional development plans, equipment health, importance of grid facilities and current domestic environment.