WGC-3

JSC The Third Generation Company of Wholesale Electric Market - (JSC WGC-3)

Type	public
Traded as	RTS:OGKC MICEX:OGKC
Industry	Power generation
Predecessor	RAO UES
Founded	2004
Headquarters	Ulan Ude, Moscow, Russia
Key people	Maxim Kuznetsov (CEO)
Products	power and heat
Revenue	US$1.2 billion (2010)
Employees	6,000
Parent	MMC Norilsk Nickel
Website	www.ogk3.ru

OGK-3 (meaning: The Third Generation Company of the Wholesale Electricity Market – WGC-3; RTS:OGKC, MICEX:OGKC) is a Russian power company. The stock is traded on the RTS and MICEX stock exchanges.

History

OGK-3 was formed in 2004 by merger of six electricity generation companies as a part of restructuring of RAO UES, Russian state-controlled energy holding company. In 2007, after emission of its new shares, Norilsk Nickel became the largest shareholder in the company.

In 2008, OGK-3 acquired 24.99% in Rusia Petroleum, an operator of the Kovykta gas field. However, in 2010 Rusia Petroleum went bankruptcy.^[1]

In December 2010, it was announced that Inter RAO will acquire Norilsk Nickel's stake in OGK-3 increasing its stake in the company up to 85%.^[2]

Operations

OGK-3 owns following power stations:

• Kostroma SDPP – 3,600 MW
• Pechora SDPP – 1,060 MW
• Cherepetsk SDPP – 1,425 MW
• Kharanorsk SDPP - 430 MW
• Gusinoozersk SDPP – 1,100 MW
• Yuznouralsk SDPP - 882 MW.

The company's registered office is in Ulan Ude in Buryatia, the headquarters are located in Moscow.

References

1. ^ "OGK-3 did not challenge the court decision on bankruptcy Rusia Petroleum". Rusmergers.com. 2010-06-19. http://rusmergers.com/en/mna/4831-.html. Retrieved 2011-01-01. 
2. ^ Shiryaevskaya, Anna; Khrennikov, Ilya (2010-12-29). "Inter RAO May Sell $2 Billion of Shares After Consolidation". Bloomberg. http://www.bloomberg.com/news/2010-12-29/norilsk-to-sell-ogk-3-to-inter-rao-rejects-deripaska-s-offer.html. Retrieved 2011-01-01. 

External links

• OGK-3 English language web-site

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