Stock boom for Northwest Russian power generator

The TGK-1

Trading with stocks of the Territorial Generating Company No 1 (TGK-1) was yesterday halted after a more 30 percent price hike in company stocks.


Despite negative figures for the two Russian stock exchanges Micex and RTS yesterday, several energy companies saw major interest in their stocks, newspaper Vedomosti reports.

The Territorial Generating Company No 1 (TGK-1) – one of the biggest power generators in Northwest Russia – saw its stock value increase with more than 30 percent in only few hours, resulting in the stock exchanges suspending trading with the company.

The TGK-1 owns generating units in Murmansk Oblast, the Republic of Karelia and Leningrad Oblast. It is controlled by Gazprom and its subsidiaries.

TGK-1 in 2008 produced 26,886 billion kWh, which is 3,2 percent more than in 2007, the company website inform.