TGC-1 is a regional power company

Power Company

The Power Company was a team of professional superheroes-for-hire in the DC Comics universe. The team, created by Kurt Busiek and Tom Grummett, first appeared in JLA 61,...

 operating in North-West Russia

Northwestern Federal District

Northwestern Federal District is one of the eight federal districts of Russia. It consists of the northern part of European Russia. Its population was 13,583,800 according to the 2010 Census, living on an area of...

. The company has its headquarters in Saint Petersburg

Saint Petersburg

Saint Petersburg is a city and a federal subject of Russia located on the Neva River at the head of the Gulf of Finland on the Baltic Sea...

 with branches in Karelia

Karelia

Karelia , the land of the Karelian peoples, is an area in Northern Europe of historical significance for Finland, Russia, and Sweden...

 and Kola

Kola Peninsula

The Kola Peninsula is a peninsula in the far northwest of Russia. Constituting the bulk of the territory of Murmansk Oblast, it lies almost completely to the north of the Arctic Circle and is washed by the Barents Sea in the north and the White Sea in the east and southeast...

.

History

The company was created in 2005 by the merger of Lenenergo, Kolenergo and Karelenergogeneratsiya power companies. Formation of the new company was announced on 1 March 2005 by Lenenergo, Kolenergo and RAO UES. The company was officially registered on 25 March 2005 and began to operate on 1 October 2005. The integration of predecessor companies was completed on 1 November 2006. The majority shareholder of this time was RAO UES.

Operations

The company operates 55 thermal

Thermal power station

A thermal power station is a power plant in which the prime mover is steam driven. Water is heated, turns into steam and spins a steam turbine which drives an electrical generator. After it passes through the turbine, the steam is condensed in a condenser and recycled to where it was heated; this...

, hydro

Hydroelectricity

Hydroelectricity is the term referring to electricity generated by hydropower; the production of electrical power through the use of the gravitational force of falling or flowing water. It is the most widely used form of renewable energy...

 and co-generation stations in Saint Petersburg, Leningrad Oblast

Leningrad Oblast

Leningrad Oblast is a federal subject of Russia . It was established on August 1, 1927, although it was not until 1946 that the oblast's borders had been mostly settled in their present position...

, Murmansk Oblast

Murmansk Oblast

Murmansk Oblast is a federal subject of Russia , located in the northwestern part of Russia. Its administrative center is the city of Murmansk.-Geography:...

 and Karelia. It has an installed generation capacity of 6,278.4 MW of electric power. In addition, OGC-1 is the major supplier of district heating

District heating

District heating is a system for distributing heat generated in a centralized location for residential and commercial heating requirements such as space heating and water heating...

 in Saint Petersburg, Petrozavodsk

Petrozavodsk

Petrozavodsk is the capital city of the Republic of Karelia, Russia. It stretches along the western shore of the Lake Onega for some . The city is served by Petrozavodsk Airport. Municipally, it is incorporated as Petrozavodsky Urban Okrug . Population:...

, Murmansk

Murmansk

Murmansk is a city and the administrative center of Murmansk Oblast, Russia. It serves as a seaport and is located in the extreme northwest part of Russia, on the Kola Bay, from the Barents Sea on the northern shore of the Kola Peninsula, not far from Russia's borders with Norway and Finland...

, Apatity

Apatity

Apatity is a town in Murmansk Oblast, Russia, located along the Murmansk Railway between Lake Imandra and Khibiny Massif, west of Kirovsk and south of Murmansk, the administrative center of the oblast...

 and Kirovsk

Kirovsk, Leningrad Oblast

Kirovsk is a town and the administrative center of Kirovsky District of Leningrad Oblast, Russia, located on the left bank of the Neva River, east of St. Petersburg. Population:...

 with 17,158.9 MV of heating capacity.

The company operates through three branches – Nevsky, Karelsky and Kolsky. In addition, it has subsidiaries Murmanskaya TETs (84.06%) and Severnaya energeticheskaya upravlyayushchaya kompaniya (100%).

Shareholders

The company's main shareholder is Gazprom

Gazprom

Open Joint Stock Company Gazprom is the largest extractor of natural gas in the world and the largest Russian company. Its headquarters are in Cheryomushki District, South-Western Administrative Okrug, Moscow...

 through its power generation holding Gazprom Energoholding, which owns 51.78% of shares. Finnish

Finland

Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...

 Fortum

Fortum

Fortum Oyj is a Finnish publicly listed energy company, which focuses on the Nordic and Baltic countries, Poland and the north-west of Russia. After acquisition of Russian energy company TGC-10 in year 2008, Western Siberia has become an important operating area for Fortum. The head of the company...

 owns 25.66% of shares. The company shares are traded at the Russian Trading System

Russian Trading System

The Russian Trading System is a stock market established in 1995 in Moscow, consolidating various regional trading floors into one exchange. Originally RTS was modelled on NASDAQ's trading and settlement software; in 1998 the exchange went on line with its own in-house system...

 and the Moscow Interbank Currency Exchange

Moscow Interbank Currency Exchange

The Moscow Interbank Currency Exchange or MICEX is one of the largest universal stock exchanges in the Russian Federation and East Europe. MICEX opened in 1992 and is the leading Russian stock exchange...

.

There are talks between Gazprom and Fortum concerning spinning of the hydrogenerating assets of the company. Also RusHydro

RusHydro

RusHydro , previously known as Hydro-OGK, is a Russian hydroelectricity company. As of 2008 it has a capacity of 25 gigawatts. It is the world's second-largest hydroelectric power producer and is the country's largest power-generating company and the largest successor to RAO UES...

is interested to acquire the company's hydroassets.