GenCos’ electricity sale price rises by 28.5% y-o-y in July

Energorynok, the state enterprise responsible for buying and selling electricity under the current one-pool system, reported yesterday that the electricity sale price for thermal power producers rose by 28.5% y-o-y in July vs. 21% y-o-y on average among all categories of producers. Yegor Samusenko: We see growth in the electricity sale price as a main driver of GenCo profitability in 2010: we expect EBITDA margins to improve by 9-10 pp y-o-y in 2010E.