Energoatom filed a lawsuit against Guaranteed Buyer to recover UAH 3 billion

SC NNEGC Energoatom filed a lawsuit to the Commercial Court of Kyiv against SC Guaranteed Buyer to recover the main debt and penalties in the amount of about UAH 3 billion for electricity supplied in February 2020 as part of PSO in accordance with the decision of the Cabinet of Ministers No. 483. This was reported by the press service.

“As Guaranteed Buyer violated the terms of the contract with Energoatom in terms of timely and full payment for the supplied electricity, the Company was forced to limit the sale to Guaranteed Buyer of a certain amount of electric energy, and also apply its right to charge penalties”,  the statement said.

It is noted that Energoatom repeatedly drew the attention of NEURC and the Ministry of Energy and Environmental Protection to the critical situation in the electricity market and warned of the possibility of the occurrence in this connection of circumstances under which Guaranteed Buyer would not be able to properly fulfill the terms of the contract of sale electrical energy concluded between him and Energoatom as part of the performance of PSO.

The company sells almost 85% of the electricity supplied to Guaranteed Buyer. The indicated direction of sale is the main source of income and cash flow for Energoatom, as well as a key lever for keeping electricity prices for the population.

Tags: The Cabinet of Ministers, contracts, renewable energy, NPP, court, NNEGC "Energoatom", legislation, electricity, NEURC, The Minystry of Energy and Coal Mining, Top management, feed-in tariff, ETL, electricity market, Guaranteed buyer, debt, renewables, PSO, law, agreement, volumes, The National Energy and Utilities the Natuonal Regulatory Commission, power system balance, energy sector, electricity transmission, transmission system operator, IPS

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