Electricity

Now that the third quarter of 2008 has drawn to a close, this past week has seen the release of quite a number of financial reports for Ukrainian companies.

The Open Joint Stock Company ‘Kyivenergo’ [KIEN UZ, BUY] announced negative financials for the first three quarters of 2008.

The National Electricity Regulatory Commission of Ukraine (NERC) has confirmed retail electricity tariff rates for energy-supply companies for October 2008.

The Open Joint-Stock Company Kyivenergo [KIEN UZ, BUY] reported net losses of UAH 158 mln for the period January to August 2008.

Dniproenergo [DNEN UZ, BUY] plans to spend about UAH 22 bln (~ USD 4.4 bln) by 2020 on the reconstruction and renovation of its generation capacity.

The wholesale electricity price for October 2008, set by the National Electricity Regulatory Commission (NERC), increased 4% compared to September, reaching USD 79.4 per MWh. Thus the YtD tariff increase for January-October 2008 has reached 40% in local currency (UAH).

According to the National Energy Company of Ukraine (ECU), the level of coal reserves at thermal power plants belonging to the ECU reached its historical minimum in September 2008.

The Ukrainian parliament approved a new preliminary draft law that obliges electricity distribution companies (oblenergos) to continue supplying electricity for public transport at low subsidized tariffs of USD 41 per MWh while the wholesale price in September reached USD 76 per MWh.

Electricity production by four Gencos - Centrenergo [CEEN], Dniproenergo [DNEN], Donbasenergo [DOEN] and Zakhidenergo [ZAEN] - in January–August 2008 increased overall by 12.1% YoY, amounting to 36,839 mln kWh

On Friday, August 29, the Kyiv City Council approved Kyivenergo’s [KIEN UZ, BUY] plans for the electricity gridline development until 2020.