OGK-1
From Wikipedia, the free encyclopedia
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Native name | OAO Оптовая генерирующая компания № 1 |
|---|---|
Romanized name | OAO Optovaya Generiruyushchaya Kompaniya 1 |
| Company type | Public (OAO) |
| Industry | Power generation |
| Predecessor | RAO UES |
| Founded | 2005 |
| Defunct | 2012 |
| Fate | Merged into Inter RAO |
| Successor | Inter RAO |
| Headquarters | , |
Key people | Boris Kovalchuck, (CEO) |
| Products | Power and heat |
| Revenue |  US$1.7 billion (2011) |
| US$143.3 million (2011) | |
Number of employees | 5,800 |
| Parent | Inter RAO |
| Website | www |
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.
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.
