3.2.9 Investments
The PAOPublic Joint-Stock Company Rosseti Ural’s investment program for 2025 was adopted by the Ministry of Energy[26].
The Company’s 2023-2025 cost and physical parameters
| Parameter | 2023 | 2024 | 2025 | 2025/2024, % |
|---|---|---|---|---|
| Funding, RUBruble million plus VATvalue-added tax | 20,239 | 19,494 | 17,970 | -8% |
| Capex, RUBruble million net of VATvalue-added tax | 16,089 | 16,081 | 17,960 | 12% |
| New fixed assets, RUBruble million net of VATvalue-added tax | 14,446 | 16,834 | 18,652 | 11% |
| Commissioning of transformer capacity, MVA | 1,652 | 832 | 846 | 2% |
| Commissioning of power lines, km | 7,605 | 1,780 | 2,404 | 35% |
Implementation of the investment program includes handling of the following problems:
- maintenance of operability of equipment that provides reliable, no-break and high-quality power supply;
- execution of liabilities under connection contracts;
- enforcement of security of equipment and personnel performance;
- provision of the transmitting capacitance of the networks for sustainable performance and connection of consumers;
- increase of anti-diversionary protection and counter-terrorist security of energy facilities.
Investment funding structure in 2023-2025:
| Parameter | 2023 | 2024 | 2025 | 2025/2024, % |
|---|---|---|---|---|
| Total: | 20,239 | 19,494 | 17,970 | -8% |
| Connection | 11,475 | 11,367 | 10,019 | -12% |
| Reconstruction, upgrade and retrofitting | 5,784 | 5,200 | 4,858 | -7% |
| Investment projects, implemented under energy sector perspective development schemes and programs | 163 | 311 | 42 | -87% |
| Other greenfield construction of energy facilities | 182 | 352 | 149 | -58% |
| Purchase of land plots for investment projects | 0 | 0 | 13 | no data |
| Other investment projects | 2,636 | 2,264 | 2,890 | 28% |
The bulk of the 2025 funding (56%) was channeled to connection. Investments spent on reconstruction, upgrade and retrofitting totaled 27%. A 16% share of the total funding was spent on other investment projects (ready-to-operate devices, IT projects, etc.), funding of the investment projects, implemented under the energy sector perspective development schemes and programs totaled 0.2%; funding on greenfield construction totaled 1%. As for the sources of financing, the Company’s internal funds contributed the most to the total funding (98% or RUBruble 17,683 million). Raised funds totaled RUBruble 287 million or 2%. We have no state-funded projects.
The largest investment projects completed in 2025
| Region | Title of an investment project | Goals | Commissioning in 2025 |
|---|---|---|---|
| Perm region | Construction of substation 10/0.4 kV and metering equipment, 10 kV cable line to provide electricity supply to an oncologic clinic (6.28 MVA, 6 kV cable line: 2.7 km) | Development of the electric grids (execution of a contract on connection) | 202.46 |
| Perm region | Reconstruction of 110 kV Yayiva GRES – Solikamsk I, II chain power line (110 kV power line: 14.422 km) | Development of the electric grids (Renovation of PAOPublic Joint-Stock Company Rosseti Ural Grids in 2024-2028 Program[27]). | 241.51 |
| Perm region | Construction of a branch line to 110 kV Yuzhnyi Rudnik substation with the installation of the branch support from 110 kV Titan – Solikamsk I, II chain power line (110 kV power line: 1.801 km) | Development of the electric grids (execution of a contract on connection) | 67.39 |
| Sverdlovsk region | Reconstruction of 110 kV Alapayevsk substation (installation of 3 additional 110 kV sections and 3 relay protection devices). Construction of 110 kV Alapayevsk – Sphera I, II chain power line (110 kV power line: 2.215 km; 110 kV cable line: 1.442 km) | Development of the electric grids (execution of a contract on connection and agreement on compensation) | 455.58 |
| Sverdlovsk region | Construction of 10kV distribution line to provide electricity supply to UrFU campus – Digital Transformation Center FGAOUVO UrFU named after B.N. Yeltsyn (16 MVA; 1 10 kV cable line: 7.6 km) | Development of the electric grids (execution of a contract on connection) | 310.24 |
| Sverdlovsk region | Reconstruction of 110 kV PS Svarochnaya — PS Daurskaya power line, 110 kV PS Svarochnaya – PS Elektromed power line, 110 kV PS Svarochnaya — PS Pyshma power line. Reconstruction of a 110 kV power line at the intersection with railway tracks (110 kV powerline: 1.34 km) | Development of the electric grids (agreement on compensation of expenses on grid facilities repositioning) | 348.36 |
| Chelyabinsk region | Reconstruction of 110 kV Ufaley – Mramornaya 2 power line, 110 kV Ufaley – Mramornaya 3 power line (replacement of support and wire), reconstruction of 110 kV Ufaley substation (replacement of busbar and RPArelay protection automation devices), City of Verkhniy Ufaley (110 kV power line: 9 km, 6 RPArelay protection automation devices) | Development of the electric grids (agreement on compensation) | 220.18 |
| Chelyabinsk region | Reconstruction of 110 kV Yesaulka substation (replacement of power transformers from 2х10 MVA to 2х25 MVA, 2 110 kV circuit breakers) | Development of the electric grids (execution of a contract on connection) | 64.58 |
Long-term investment program
| Cost and physical parameters | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Funding, RUBruble million, incl VATvalue-added tax | 23,945 | 16,862 | 17,315 | 16,318 |
| Capex, RUBruble million net of VATvalue-added tax | 21,490 | 11,945 | 14,556 | 12,456 |
| New fixed assets, RUBruble million net of VATvalue-added tax | 21,744 | 12,546 | 15,144 | 12,183 |
| Commissioning of transformer capacity, MVA | 706 | 123 | 125 | 123 |
| Commissioning of power lines, km | 2,806 | 1,157 | 1,183 | 861 |
The PAOPublic Joint-Stock Company Rosseti Ural’s investment program for 2026-2029 was adopted by the Ministry of Energy[26]. The Company’s investment program for 2026-2029 stipulates RUBruble 74,439 million (incl. VATvalue-added tax) funding, RUBruble 60,447 million (net of VATvalue-added tax) capex and RUBruble 61,616 million (net of VATvalue-added tax) new fixed assets. The Company’s 2026-2029 investment program is prepared with due allowances to regional development plans, equipment health, importance of grid facilities and current domestic environment.