19:01 17.08.2020

Centrenergo will fully pay debts to state mines due to sale of its electricity by year end

2 min read
Centrenergo will fully pay debts to state mines due to sale of its electricity by year end

 PJSC Centrenergo has sold a significant part of the electricity for the period until the end of the year in order to pay off debts to state mines for the supplied products.

"The sale of electricity by the end of the year will allow Centrenergo to completely cover debts to the mines," the company's press service told Energy Reform.

At the same time, the press service noted that the exact amount of debt, which began to form back in 2019, is being calculated, "but it will be at least UAH 440 million."

According to the Ukrainian Energy Exchange, Centrenergo sold 4.638 million MWh of peak load at its auction on August 14 under bilateral agreements with a delivery period of October 1-December 31, 2020. Of these, 2.016 million MWh were sold at a price of UAH 1,222/MWh, 2.62 million MWh at a price of UAH 955.7/MWh. The sale amounted to almost UAH 5 billion.

At the same time, Centrenergo announced it had appealed to the Cabinet of Ministers and the Ministry of Energy of Ukraine with a request to revise the estimated cost of coal with state mines, based on its market price.

"In particular, today Centrenergo has already signed a contract with a private Ukrainian mine for the supply of coal at a price of UAH 1,480/tonne excluding VAT," the press service said.

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