Centrenergo will allocate over UAH 400 million to state mines

PJSC Centerenergo announces that it will send over UAH 400 million to state mines.

“Despite numerous appeals to NEURC with proposals to improve market rules, as well as difficult negotiations with the participation of the Ministry of Energy with leading state-owned banks on the opening of a target credit line for payments for Ukrainian coal, the result was negative. And the situation is getting worse every day - wage debts to the miners are growing,” the message says.

The Directorate of PJSC Centerenergo made a decision to sell electricity at an auction for the period until the end of the year.

“We hope that the funds that will be paid to state-owned coal mining enterprises will help increase production and, as a result, reduce production costs and make the working conditions of miners safer.”

It is also noted that the state power generating company, in order to reduce losses, to maximize the approximation of the cost of a megawatt of electricity to its market value, has prepared an appeal to the Prime Minister of Ukraine and the Ministry of Energy to revise the selling price of coal to the market level.

“Indeed, without such a step, the unprofitable generation of electricity at a state enterprise will inevitably lead to a chain reaction regarding state mines. It is impossible to admit this, therefore, the only possible balanced government decision is expected at PJSC Centerenergo,” the company noted.

Tags: The Cabinet of Ministers, DTEK, contracts, hydrocarbon production, coal mining, legislation, electricity, NEURC, coal, energy market, TPP, electricity market, SOE Enerhorynok, Centrenergo, debt, coal mining, negotiations, The National Energy and Utilities the Natuonal Regulatory Commission, power system balance, energy sector, Shmyhal, coal mine, power system, Buslavets, The Ministry of Energy, economy, market, coal market

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