Energy companies’ money: revenue, import and export

The electricity market in Ukraine was launched in July 2019. Therefore, we will consider the profits of companies in this market later. In the meantime, Kosatka.Media, together with You Control system, analyzed how much revenue the energy companies received in 2018 and 2017, as well as how much, what and where they imported and exported.

Revenue Leaders

State-owned company Energorynok received the most in 2018 – more than 171 billion hryvnias. This is not surprising, because before the launch of the electricity market, this company was a wholesale buyer of all the electricity produced in Ukraine and its seller to energy supplying companies.

 With a significant lag in revenue, the second and third places were held by state-owned enterprise Energoatom and private DTEK Dniprovski elektromerezhi with 44.5 and 33.5 billion, respectively.

DTEK Zakhidenergo with 25.5 billion hryvnias and Dniproenergo with 17 billion hryvnias are closing the top five.

If we analyze the revenue in dynamics compared to 2017, we will get a slightly different picture. The state-owned Ukrhydroenergo is in the lead with 39% growth, which is also not surprising – it is a company from the list of 15 largest enterprises in the public sector of the economy.

The second is also the state-owned Centrenergo with 33%. The third is again the state-owned Donbasenergo with 29%.

But 4th and 5th and 6th places were held by private Lvivoblenergo (19% growth), and DTEK Zakhidenergo and Kyivoblenergo (18% growth each).

How much, what and where was exported

The leader in export among energy companies in 2018 is Donbasenergo. It sold electricity for 950 million UAH. Of this, 55% went to Slovenia, 20% each to Poland and the Czech Republic, 5% to Romania. At the same time, in 2017, the cash export volume of this company was at the level of 65 million UAH, and electricity was also sold. And in 2019, it was exported for 250 million UAH, to Slovenia and the Czech Republic.

The second in export is Energorynok. It sold electricity abroad for 500 million UAH. Of these, more than 95% went to Russia and 5% to Belarus. In 2017, the company did not export anything. And this year they sold electricity already for 200 million UAH to the Russian Federation and Belarus.

The third in export, Energoatom, sold not the electricity. In 2018, it sold nuclear reactors for 200 million UAH, unirradiated fuel elements (TVEL) for nuclear reactors, and equipment and devices for isotope separation. Of these, to Switzerland – more than 50%, Sweden – 45%, Russia, Poland, Croatia – up to 3%. In 2017, Energoatom exported for more than 100 million. It sold nuclear reactors and fuel to it mainly to Georgia (90%). And in 2019, the company so far exported the same goods, for more than 100 million UAH, but to Switzerland.

The largest importers  

The leader in the amount of money spent on import in 2018 is Centrenergo, the company imported mainly from the USA – more than 95% - coal, anthracite, as well as briquettes, pellets and similar types of solid fuels obtained from coal. Total of 400 million UAH. It is interesting that in 2017 this company purchased 900 million of coal abroad. And for 9 months of this year, import from Centrenergo was zero.

The second place in terms of imports is held by DTEK Vostokenergo, which imported oil and oil products (the origin of the goods is not indicated) for 100 million UAH (in 2017 – for 30 million). In 2019, as of now – import of 10 million UAH – these are bulldozers, excavators and other machines.

“Bronze” in terms of import is held by RGK Trading, it acquired 40 million UAH of gas from oil and other hydrocarbons in a gaseous state from a source unknown to You Control (in 2017 – 35 million UAH). Interestingly, for 9 months of 2019 – the purchase of this company abroad amounted to 1 billion UAH – they also bought oil gases and other gaseous hydrocarbons (while You Control was also unable to determine 60% of the origin of the import).

Tags: DTEK, NNEGC "Energoatom", electricity, energy market, Ukrenergo, Ukrhydroenergo, export, import

Read also

Andrew Favorov: Now is not the time to catch the falling knife
Chairman of Ukrainian Association of Renewable Energy Oleksandr Kozakevych: If we destroy the investment climate now, no one will come to Ukraine
Energy and quarantine: who is affected and what to expect