MOSCOW, November 1 (RIA Novosti) - Russian territorial power generating firm TGK-1 said on Saturday its net loss under Russian Accounting Standards decreased 82% in January-September from a year ago to 127.9 million rubles ($4.8 million).
Third-quarter net loss decreased by 727.7 million rubles ($26.9 million) to 263.9 million rubles ($9.7 million) due to increased electricity sales following the start of the heating season, and growth in revenues resulting from the electric power market's liberalization, TGK-1 said.
TGK-1, which incorporates 55 electric power plants in northwestern Russia, is the third largest territorial power producer in terms of capacity.
TGK-1 has an installed electric power capacity of 6,278 MWt and heat power of 14,754Gcal/h. The company supplies electricity to the domestic wholesale market, and also partially exports electricity to Finland and Norway.
