The first power generating company on the wholesale energy market (OGK-1) was established on March 23, 2005. OGK-1 is the largest wholesale thermal power generation company in Russia, established during the reform of the Russian energy industry, with the installed capacity of 9,531 MW.
OGK-1 comprises Permskaya GRES, Verkhnetagilskaya GRES, Kashirskaya GRES, Urengoyskaya GRES and Iriklinskaya GRES. 2 existing power units of Nizhnevartovskaya GRES were transferred to the authorized capital of ZAO «Nizhnevartovskaya GRES». 100% shares of ZAO «Nizhnevartovskaya GRES» belong to NVGRES HOLDING LIMITED (NHL). 75% - 1 share of the NHL authorized capital belong to JSC «OGK-1», 25%+1 share belong to TNK-BP.
Company's power generation assets are all based in the most energy deficient areas of Russia with the projected highest rate of increase in power consumption. These are the Urals and the Central power systems. OGK-1 power plants are characterized by an elevated fuel consumption efficiency factor. Gas is the main fuel, it accounts for about 90% of the fuel mix. Two power plants – Verkhnetagilskaya GRES and Kashirskaya GRES can consume coal, as well as gas. Coal accounts for up to 30 % of the fuel mix at these two power plants.
On July 1, 2008 43% of OGK-1 shares were transferred to Federal Grid Company, 23% - to RusHydro. 34% of OGK-1 shares belong to minority shareholders.
OGK-1 supplies electricity to the wholesale energy and capacity market. Energy sales companies and big energy consuming customers are among the purchasers of the electricity.
OGK-1 sales electricity and capacity under regulated contracts at tariffs, approved by the Federal Tariff Service as well as on the free market at competitive prices, while the share of sales on the free market is increasing in accordance with the liberalization rate, established by the Government Regulation of 07.04.2007 № 205. Thus, the liberalization rate amounts to 25% from July 1^st, 2008. “Liberalized” volumes of electricity and capacity are sold on the free market at market prices. The sales include free bilateral electricity and capacity sales contracts. On January 1, 2009 the liberalization rate at the energy market achieved 30%, in accordance with the industry reform plan.