Электроэнергетика

Centrenergo [CEEN UZ, BUY] has released its financial results for 3Q2008, as required according to Ukrainian taxation legislation. In the period July-September 2008, the company reported a net profit of UAH 46.641 mln. Its net income rose 2.3 times (or by UAH 1,457.149 mln) to reach UAH 2,583.587 mln, compared with the same period in 2007.

Kyivenergo [KIEN UZ, BUY] will be receiving funds from the Kyiv City Administration to cover the difference between the company’s heat tariffs and heat production costs. The Kyiv City Council has vote favorably for the distribution of an additional UAH 245.858 mln from the Kyiv budget to this enterprise, made possible by redistributing funds related to its different budget lines.

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.