Feb. 9 (Bloomberg) -- OAO Gazprom, the world’s biggest gas producer, said its power utilities’ net income under Russian accounting standards fell 13 percent to 14.9 billion rubles because of higher fuel prices and financing expenses.
Electricity output declined 1.1 percent to 173 billion kilowatt-hours in 2011 after extreme cold the previous year, OOO Gazprom Energoholding, the Russian gas producer’s power division, said today in an e-mailed statement.
Revenue rose 8.4 percent to 323.5 billion rubles ($10.8 billion) as prices for electricity and heat increased, it said.
Gazprom controls OAO Mosenergo, OAO OGK-2 and OAO TGK-1.
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