The First Generation Company of the Wholesale Electricity Market (OGK-1) was a large Russian company formed by the merger of six electricity generation companies.
History
The company was established in 2005 by merging six power plants into one company. Before 1 July 2008, about 92% of the company's shares was owned by RAO UES, Russian state-controlled energy holding company. As a result of the electricity market reform, 43% of shares was transferred to the Federal Grid Company of Russia, 23% to RusHydro, and 34% was distributed to minority shareholders.
On March 17, 2009 the rights under 61,9% of voting shares were transferred to Inter RAO UES for 5 years with the right for extension for the same period. Starting from July 6, 2009 the powers of the sole executive body of OGK-1 were transferred to Inter RAO UES.[1] In 2012, OGK-1 was merged into Inter RAO.
Operations
OGK-1 operates following power stations:
The installed capacity of these power stations is about 9,500 MW.