Electricity

The wholesale electricity price for August 2008, set by the National Electricity Regulatory Commission (NERC), increased 3% compared to June, reaching USD 73 per MWh.

Energy holding DTEK, which is a part of SCM Group, and Erste Bank Austria and Erste Bank Ukraine agreed on EUR 50 mln of standby financing, aimed at supporting DTEK’s M&A activity in coal and electricity industry.

Electricity exports from Ukraine to bordering countries for the 1H08 decreased by 31% YoY.

On June 25, Ukraine resumed electricity export to Belarus due to failure of one of the largest power plants in Belarus, Lukomol Power Plant.

The wholesale electricity price for July 2008, set by the National Electricity Regulatory Commission (NERC), increased 4.3% compared to June, reaching USD 70 per MWh.

The Cabinet of Ministers of Ukraine has prolonged the earlier-adopted reconstruction and modernization plan for gencos until 2020.

Kievenergo [KIEN UZ] is set to receive USD 31mln from the Kiev city budget to compensate its gas debts to state-owned Naftogas. According to Kiev city council officials, an additional USD 120mln is to be allotted to Kievenergo by the end of 2008.

Electricity generation companies (except Energoatom) which belong to State owned Energy Company of Ukraine have increased their electricity production by 6.3% YoY amounting to 30.9 bln kWh. State owned thermal generation companies (Gencos) increased their output by 8.2% YoY increasing their utilization rate by 1.7p.p. to 25.8%

Gross electricity consumption (including electricity losses in the grids) increased for 5M08 by 5.3% YoY amounting to 82 bln kWh. Net electricity consumption amounted to 66 bln kWh implying a net electricity consumption increase of 5.9%. Largest consumption increase was due to household consumption which grew by 8.7% YoY compared to industrial consumption – 3.5% YoY.

Electricity distribution company Kirovogradoblenergo [KION] announced a dividend payout of USD 3.8 mln at its AGM Friday, May 30.