Energoatom estimated losses for six months at UAH 10 billion

NNEGC Energoatom lost about UAH 10 billion in six months of 2020, of which UAH 6.6 billion are debts of the State Enterprise Guaranteed Buyer for the electricity supplied by Energoatom, Economichna Pravda reports.

Another UAH 292 million is Ukrenergo's debt and UAH 662 million is the amount of short-term loans that the company was forced to take in order to close critical payments.

According to the head of Energoatom, Petro Kotin, the company faced administrative restrictions, which did not make it possible to produce additional electricity even with an increase in demand for it. In addition, the new forecast balance reduced electricity production at nuclear power plants by 12%

“The new forecast electricity balance of the IPS of Ukraine for 2020 from April 28 of this year provided for Energoatom a record low electricity production – 73.7 billion kWh. This led to artificial balance constraints, disconnection of power units from the network and operation at reduced power,” he stressed.

Tags: The Cabinet of Ministers, contracts, NPP, NNEGC "Energoatom", legislation, electricity, NEURC, energy market, Ukrenergo, electricity market, foreign affairs, Guaranteed buyer, debt, PSO, draft law, negotiations, investments, agreement, The National Energy and Utilities the Natuonal Regulatory Commission, power system balance, infrastructure, energy sector, electricity transmission, transmission system operator, IPS, nuclear power plant, balancing restrictions, power system, power unit, The Ministry of Energy, market, power grid, electricity consumption, supplier, consumers

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