The main producer of electric and thermal power for Moscow and the Moscow region said revenue in the reporting period slipped 20.8% on 1Q05 to 32.269 bln rubles ($949 mln). Sales profits declined 46.5% year on year to 3.677 bln rubles ($136.6 mln).
The company said the fall in net profits was due to the separation of 13 companies from Mosenergo as part of ongoing power sector reform in Russia.
Mosenergo supplies 80% of Moscow's heating requirements, and meets 85% of power demand in the capital and the Moscow region.
The company has 17 power plants in the region with electric power capacity of 10.6 thousand MWt and heat capacity of 34.2 thousand Gkal/hour. The majority of Mosenergo's plants are gas-fuelled.
The company's main shareholders are electricity monopoly Unified Energy System (50.87%), and energy giant Gazprom (more than 25%).
