MOSCOW, March 25 (RIA Novosti) - Moscow's electric
power utility Mosenergo said on Wednesday its net profit
calculated to Russian Accounting Standards grew 86%,
year-on-year, in 2008 to 1.4 billion rubles ($41.5 million).
Mosenergo, which unites 17 electric power plants with an
electrical power capacity of 10,600 MW and thermal generation
capacity of 39,000 MW, said its net profit increased in the
reporting period largely due a cut in the effective tax rate.
Revenues climbed 21% in the reporting period to 94.8
billion rubles ($2.8 billion), Mosenergo said.
"The growth in revenues is attributable to larger
electricity output, higher electricity and thermal power rates,
and increased competitive pricing levels on the electric power
wholesale market," Mosenergo said.