Аудиторское заключение

EXPLANATIONS
to the accounting (financial) statements of
JSC “INTER RAO UES” for the year 2012
These explanations constitute an integral part of the annual accounting (financial) statements of JSC
―INTER RAO UES‖ for the year 2012 prepared in accordance with applicable laws of the Russian
Federation.
All sums are shown in thousand rubles, unless otherwise specified.
I. GENERAL INFORMATION
Open Joint Stock Company ―INTER RAO UES‖ 1 (the Company) was founded on October 23, 2002.
Core activity of the Company was production of electricity and power. The Company and its
subsidiaries are hereinafter collectively referred to as INTER RAO UES Group.
In 2008 as a result of reorganization, CJSC ―INTER RAO UES‖, JSC ―North-West Thermal Power
Plant‖, JSC ―Ivanovskie PGU‖, JSC ―Kaliningradskaya TEC-2‖, JSC ―INTER RAO HOLDING‖ were
incorporated in the Company. Branches of the same name have been established on the basis of assets
of JSC ―North-West Thermal Power Plant‖, JSC ―Ivanovskie PGU‖, JSC ―Kaliningradskaya TEC-2‖,
JSC ―Sochinskaya TEC‖. Executive Office carrying out the management functions over the Company
has been established on the base of JSC ―INTER RAO UES‖. Core activity of the Company
throughout 2008-2011 was production of electricity and heat energy on the base of the branches, and
electricity sale at the domestic market and outside the Russian Federation.
In 2011 – 2012 in the result of structural re-arrangement of the model of business conduct, aimed at
creating a Holding Company on the base of JSC ―INTER RAO UES‖, production branches of ―North-
West Thermal Power Plant‖, ―Kaliningradskaya TEC-2‖, ―Sochinskaya TEC‖, and ―Ivanovskie PGU‖
being a part of the Company were moved to the balance-sheet of 100 % subsidiary of INTER RAO –
Electric Power Plants, OJSC. Sales activity previously conducted on the base of the branch in Orel was
assigned to 100 % subsidiary INTER RAO – Orel Energy Distribution, LLC. Detailed information is
provided in section 26 ―Terminated Activity‖ of this Explanatory note.
In 2012 as a result of reorganization, the Company was incorporated with JSC ―OGK-1‖, JSC ―OGK-
3‖, JSC ―INTER RAO – Energy‖, JSC ―INTER RAO - EnergyAsset‖, and JSC ―Bashenergoaktiv‖.
Production branches generating electricity and heat energy, which used to be a part of JSC ―OGK-1‖,
―OGK-3‖, were incorporated with 100 % subsidiary INTER RAO – Electric Power Plants, OJSC.
1 Before renaming – JSC ―Sochinskaya TEC‖ (renamed in pursuance of the decision of a sole shareholder of the Company
– JSC RAO ―UES of Russia‖ dd. 28/03/
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