The Ministry of Finance: Ukrenergo's loss will amount to UAH 26 billion in 4 years

The Ministry of Finance noted in the financial risk report attached to the draft law "On the state budget for 2021" that in 2020-2023, the losses of NPC Ukrenergo will exceed UAH 26 billion, Economichna Prravda reports.

According to the calculations of the Ministry of Finance, in 2020 NPC's losses will exceed UAH 15.1 billion, in 2021 – UAH 3.5 billion, in 2022 – UAH 4.6 billion, and in 2023 – UAH 3.1 billion.

The Ministry of Finance carried out simulations under three scenarios (baseline, stress and optimistic). Regardless of the scenarios considered in the model, under the conditions of the current tariffs on the electricity market, which do not fully cover the costs associated with the performance of Ukrenergo's special duties, the company is expected to operate unprofitable in 2020.

The optimistic scenario assumes making a profit in 2021-2023.

“During the modeling of the activities of Ukrenergo according to the optimistic scenario, the company's expectations for the volumes and prices of sales of products were taken into account, which will ensure profitable activities in 2021 - 2023,” the report says.

As a reminder, the top manager of Ukrenergo left the company due to wage restrictions.

Earlier it was reported that in 2021 Ukrenergo will invest over UAH 7 billion in the grids development.

Tags: Ukrenergo, electricity market, debt, PSO, price, population, generation, crisis

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