Most of Uzbek energy companies engaged in electricity generation, heat generation and coal mining suffered losses in Q1 of 2023. These findings were revealed in the financial statements of enterprises on the Unified Corporate Information Portal.
The Thermal Power Plants company (which manages 6 thermal power plants, 3 power plants and 3 service enterprises) suffered 1.6 trillion soums in losses in January-March, although in 9 months of 2022 the company reported a profit of 1.24 trillion soums. The sharp increase in losses was due to "other expenses on financial activities", which topped 1.19 trillion soums. In Q1 of last year, the profit reached 24.5 billion soums.
The losses of Angren thermal power plant (TPP), which was withdrawn from the trust management of Central Asia Energy in January, reached 77 billion soums, which is less than the figure for the same period last year (97.1 billion soums).
Yangi-Angren TPP ended Q1 with a loss of 26.8 billion soums against 80.48 billion soums in the first three months of 2022. Last year, losses amounted to 305.8 billion soums, for 2021 - 245.5 billion soums, for 2020 - 54.9 billion soums.
Uzbekkumir completed 2019 with a net profit of 5.4 billion soums, but after the transfer to trust management in 2020, losses topped 79.7 billion soums, in 2021 - 183.8 billion soums. In 2022, the company reported a profit of 20.5 billion soums, but in Q1 of 2023 already, there were again losses of 20.37 billion soums.
The Talimarjan TPP also recorded losses of 16.3 billion soums, although it had always been profitable before. In Q3 of 2022, the plant received a profit of 444.7 billion soums. The damage may be related to the protracted repair of the power unit, for which Shavkat Mirziyoyev fired Farhod Abdurakhmanov, chairman of the Thermal Power Plants company.
The Regional Electric Networks company reported a loss in Q1 of 116.6 billion soums compared to 212.16 billion soums in the same period last year. At the same time, in 2022 the company received losses of 56.6 billion soums, and in 2021 - a profit of 378.5 billion soums.
Hududgaztaminot enterprises suffered losses of 86.5 billion soums, although in Q1 of last year they made a profit of 247.4 billion soums. In 2022, the profit amounted to 199.9 billion soums, and in 2021 - 240.3 billion soums.
The Uzbekneftegaz oil and gas company has not published reports since 2021. Then, for the first half of the year, a profit of 3.36 trillion soums was reported.
Last winter, Uzbekistan faced a major energy crisis, which led to interruptions in the supply of electricity, heat and gas. As a result, some enterprises and factories suspended their activities, which caused a sharp drop in industrial production. Residents of Tashkent were forced to burn fires in their yards to keep warm and cook food.
The main reason for the energy crisis was the shortage of gas, the production of which continues to decline (along with electricity, coal and thermal energy). Energy Minister Zhurabek Mirzamakhmudov previously denied the information that Uzbekistan transferred all oil and gas fields to Russia for 35 years.
