Daily monitor

The National Electricity Regulation Commission (NERC) retained its regulated electricity tariff for clients other than the general public at November’s level, which is UAH 436 (USD 65) per MW and UAH 585 (USD 87) per MW for large and small consumers respectively.

The Higher Administrative Court of Ukraine has refused to accept a complaint issued by CJSC Kyivstar GSM, requesting that the Court cancel a ruling by Kyiv Administrative Court of Appeals, issued in July 2008, regarding a case about the issuance of a license to use 2.1 GHz frequency bands for 3G mobile communications without using a tender-based process.

Fitch, an international rating agency, downgraded the Myronivskiy Khliboprodukt [MHPC LI, U/R] bond’s rating B in foreign currency from stable to negative.

The European Commission has acknowledged the compliance of Ukraine’s sunflower oil to European standards.

The National Electricity Regulation Commission (NERC) retained its regulated electricity tariff for clients other than the general public at November’s level, which is UAH 436 (USD 65) per MW and UAH 585 (USD 87) per MW for large and small consumers respectively.

Ukrros, a Ukrainian sugar producer with a 70 thsd ha land bank in lease, held a conference yesterday, where the company released its audited consolidated IFRS financial results for 1H08. Key financials: net revenues increased to USD 75.6 mln, EBIT improved from negative to positive USD 3.5 mln, and net income increased to USD 4.3 (including VAT redemption).

Ukrtelecom`s mobile communication unit Utel increased its subscriber base by 47% MoM in October to 92,000 subscribers, according to the company ‘iKS Consulting’, which studies telecommunications markets in Russia and the CIS.

A number of consequent news on Ukrainian electricity generating companies led us to expect further conflict around the shareholdership in GenCos. . After Monday’s statement by the Ukrainian Deputy Coal Minister that Ukrainian electricity generating companies owed UAH 426 mln for coal supplied, two news which we view as connected also appeared yesterday.

The Ministry of Fuel and Energy notes the need to invest UAH 15 bln in the development of the fuel and energy complex and investment projects in the energy sector in 2009.

An engine manufacturing project involving the Zaporizhya-based company Motor Sich [MSICH UZ, U/R] for the joint production of the D-436TP engine has officially received European certification. The engine has successfully passed its flight fitness tests by European standards on a Beriev Be-200 amphibious aircraft, according to Motor Sich’s office in Moscow. MSICH collaborated with two Russian companies on this project – the MMPP Salyut machine-building company (Moscow) and the UMPO engine-building enterprise (Ufa).