Contract on imported Russian electricity could be terminated in two days, says minister

15:04, 06.02.2015 1 min read

A contract on the supply of Russian electricity to Ukraine could be terminated within two days, Energy and Coal Industry Minister of Ukraine Volodymyr Demchyshyn has said.

"The schedule is agreed by the sides each day, and two days ahead the sides have the right to revise the volume and cancel the contract if the schedule or the price or other conditions do not suit the sides," he said in parliament on Friday.

The minister said that at present Ukraine still faces a lack of its own electricity generating capacity due a to coal shortage of up to 1,000 MW.

"If we do not have a chance to import 1,000 MW, we would have to stop industry today, as we saw this in December," he added.

He also said that the price of imported electricity from Russia is cheaper than the average price of electricity generated in Ukraine.

Demchyshyn said that he ordered the director of Ukrinterenergo to improve the contract on electricity imports signed with Inter RAO.