Energoatom expects a shortage of funds due to the updated PSO for the population in the 1st quarter of 2021 in the amount of UAH 4 billion

NNEGC Energoatom expects a shortage of funds of UAH 4 billion in the first quarter of 2021 when selling electricity to Guaranteed Buyer as part of the renewed PSO to supply the population at 15 kopecks/kWh, Interfax-Ukraine reports.

“Even if Guaranteed Buyer paid for the supplied electricity in full, we expect a negative financial result, a cash deficit in the first quarter of 2021 at the level of UAH 4 billion, and, as a result, a two-fold reduction in the company's tax payments to the budgets of all levels,” the company said in a statement.

At the same time, the company suggested that Guaranteed Buyer will not be able to pay Energoatom on time and in full.

NNEGC announced its intention to actively participate in developing an improved scenario for financial balancing of the electricity market.

As a reminder, the Cabinet of Ministers of Ukraine extended PSO on the electricity market until March 31, 2021, and established a single electricity tariff for household consumers at UAH 1.68/kWh.

Tags: tariffs, NNEGC "Energoatom", electricity market, Guaranteed buyer, debt, PSO, price, population, electricity consumption

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