12:58 18.01.2021

Energoatom to send most of UAH 5.1 bln received from Guaranteed Buyer for pay to Westinghouse, other suppliers – president

2 min read
Energoatom to send most of UAH 5.1 bln received from Guaranteed Buyer for pay to Westinghouse, other suppliers – president

National Nuclear Generating Company Energoatom will use most of the approximately UAH 5.1 billion that will be received from state-owned enterprise Guaranteed Buyer as debt repayment for fuel to Westinghouse and other suppliers, acting President of Energoatom Petro Kotin has said.

"The funds received will mainly go to pay off debts to our suppliers, including paying for fuel to Westinghouse," he wrote on his Facebook page on Sunday.

At the same time, he called a wise decision the resolution of the National Energy and Utilities Regulatory Commission of Ukraine (NEURC) issued on Saturday ordering Guaranteed Buyer to distribute to Energoatom at least 50% of the funds received from NPC Ukrenergo taken as loans from three state-run banks in the amount of UAH 10.25 billion. The decision is of great importance for state-owned companies, he said.

"This is significant not only financial, but also political support for the basic state-sustained generation, which fully provides households with electricity," Kotin said, explaining his position.

According to him, this is the first step towards removing Energoatom from the harsh discriminatory conditions of work in the electricity market and the beginning of the stabilization of the financial and economic situation of the company, the debts to which amount to UAH 24 billion.

At the same time, Managing Partner of IMEPOWER Consulting Company, which also operates in the green energy market, Yuriy Kubrushko expressed his surprise on his Facebook page about the status of the document adopted by NEURC, indicating that the decision was made without the draft being made public and approved at a meeting of the regulator.

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