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Electricity
December 1, 2009
NERC slightly increases retail electricity price

The National Energy Regulatory Commission of Ukraine (NERC) has raised retail electricity tariffs for non-household consumers by 1%. As of December 1, large electricity consumers (35 kV and above) will be paying a rate of UAH 462 (USD 57.7) per MWh, while smaller consumers (below 35 kV) will be subject to tariffs set at UAH 613 (USD 76.6) per MWh.

Electricity
December 1, 2009
Ukrenergo to hold auction for power exports on Dec 16

The Ministry of Fuel and Energy of Ukraine announced that the first auction for electricity exports will be held on December 16, 2009. The transmission grid operator Ukrenergo, which is organizing the auction, should announce the details of the auction on December 8, according to the Ministry’s statement.

Electricity
November 27, 2009
NERC inched electricity price, adjusted KIEN tariff

National energy regulatory commission (NERC) increased December wholesale electricity price by 0.7% compared to November. This is the second consecutive tariff increase by the NERC after 3% MoM wholesale electricity price lift for November 2009. Also, NERC adjusted power tariffs for power generating stations of Kievenergo [KIEN]. Due to the fact that KIEN operates gas fired power plants, it is not competitive with the coal fired power plants. Thus NERC decided to implement fixed electricity tariff for KIEN and assigned UAH 440 per MWh tariff for December 2009.

Electricity
November 13, 2009
Government suggests CEEN tariff increase: POSITIVE

The Ukrainian Government has submitted its recommendation to the National Energy Regulatory Commission (NERC) to increase the investment surcharge on Centerenergo’s [CEEN UZ] power tariffs. This move was made to enable the power generating Company to cover its loans and implement its planned investments. The investment surcharge would provide additional revenues in the amount of UAH 28 mln in 2009, UAH 51 mln in 2010-2013, and UAH 25 mln in 2014.

Electricity
November 11, 2009
Ukrainian power consumption grew in October

The Ministry of Fuel and Energy has published October data on power production and consumption. Ukrainian electricity consumers used 1.7% more energy in October 2009 than in October 2008 and 14.7% more than consumed in September 2009. In October 2009, Ukrainian power generating companies increased their amalgamated output by 1.7% compared to October 2008 and by 13.5% compared to September 2009. The 10M09 power output, however, was still 12% lower YoY.

Electricity
October 30, 2009
Gov drafted law on bilateral power contracts: POSITIVE

The Government of Ukraine drafted law which regulates the implementation of bilateral power contracts and the transition to the liberalized energy market. The Chairman of the National Energy Regulatory Commission (NERC), Mr Kalchenko, told the journalists yesterday. The transition to the new market model will be made in four stages, with more and more power consumers working under bilateral contracts in each stage of the transition. Mr Kalchenko noted that the law can be approved by the parliament in the next year which suggests the full transition to the new market by 2015.

Electricity
October 23, 2009
7 oblenergos issue 3Q09 results with lower earnings

Seven oblenergos have reported on their financial results for 3Q09, including CHEN UZ, CHON UZ, KION UZ, VOEN UZ, ZAON UZ, ZOEN UZ, and the traded OTC Sumyoblenergo (often referred to as SOEN). In 3Q09, only CHEN and CHON posted earnings (UAH 8 mln and 4 mln respectively). The remaining power distributers generated a net loss in 3Q09, with KION and VOEN being the worst performers in 3Q09 (with a UAH 25 mln and UAH 7 mln net loss, respectively). In 9M09, only KION posted a UAH 19 mln net loss, while all other oblenergos were profitable. As for net sales, only ZAON suffered a 9% decline in its 9M09 net sales. This was due to lower power consumption on the part of industrial users, which represent a major part of the Company’s clientele. With a net margin at 12% in 9M09, CHEN remains the most profitable oblenergo.

Electricity
October 21, 2009
Ukraine to export 2 TWh of power to Belarus in 2010

According to the Deputy Prime Minister’s press service, Ukraine has concluded a contract with Belarus for the export of 2 TWh of electricity in 2010. Earlier on, Ukraine used to export power to Belarus in late-2007 at prices that were below those witnessed on the Ukrainian wholesale power market. In the summer of 2009, the state power intermediary, Ukrinterenergo, resumed power supplies to Belarus.

Electricity
October 12, 2009
CHEON failed to hold EGM: NEGATIVE

Regional power distributing company, Chernigivoblenergo [CHEON UZ, BUY] failed to hold EGM on October 09, as it was banned by the court. The company’s 25% stake was privatised in May 2009. The remaining shares were distributed between two business groups and portfolio investors.

Electricity
October 6, 2009
State energy holding cuts electricity production by 17%

NAC Energy Company of Ukraine (NAK EKU), which owns majority stakes in four fossil fuelled power generating companies, in September 2009 reduced the production of electricity by 17% compared with September 2008, to 5 bln kWh. In 9 months 2009 decline in the production of electricity by the companies of NAK EKU totalled 21% (to 45.7 bln kWh), compared with 9 months 2008. In August, power companies of NAK EKU produced 24% less power than in August 2008.

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