16:21 26.01.2021

Bill on support of Energoatom provides for additional issue of UAH 7.3 bln govt bonds

3 min read
Bill on support of Energoatom provides for additional issue of UAH 7.3 bln govt bonds

Bill No. 4624 on the support of state-owned enterprise (SOE) National Nuclear Generating Company Energoatom, the text of which was posted on the Verkhovna Rada's website on Tuesday, provides for an additional issue of government domestic loan bonds for UAH 7.3 billion in order to pay off critical debt of nuclear workers.

The document was initiated by MPs Yuriy Kamelchuk, Hanna Skorokhod, Oleksiy Kucherenko, Oleksiy Honcharenko and Liudmyla Buimister, as well as a number of specialized parliamentary committees, including the committee on energy and housing and communal services headed by Andriy Gerus.

"Today, the debt for the supply of inventory items for the assembly, repair and implementation of the nuclear safety enhancement program at all NPPs, debt for the supply of fuel, enriched uranium product, fuel assemblies, and the export of spent fuel, which is critical for ensuring the sustainable operation of nuclear facilities of Energoatom is about UAH 7.3 billion. Taking into account the above, the state should provide the necessary financial support to the key state-run energy enterprise – SOE Energoatom – in the amount of UAH 7.3 billion," the MPs said in an explanatory note to the draft law.

To this end, bill No. 4624 provides for amending the national budget of Ukraine for 2021 in terms of increasing the spending of the special fund of the national budget of Ukraine by UAH 7.3 billion, to UAH 143.595 billion.

The document authorizes the Ministry of Finance to additionally issue government bonds, in excess of the volume established by the law on the national budget of Ukraine for 2021, with further transfer of the funds to the special fund of the national budget to finance Energoatom under a decision of the Cabinet of Ministers.

Currently, the total accounts receivable of SOE Energoatom for the supplied electricity exceeds UAH 24 billion, of which UAH 11.6 billion is the debt of SOE Energomarket to the company as of July 1, 2019, UAH 8.7 billion is the debt SOE Guaranteed Buyer for nuclear power in 2020 and another UAH 3.7 billion is the debt of NPC Ukrenergo for 2020.

According to expert estimates, in the first quarter of 2021, the shortage of Energoatom's funds may increase by another UAH 7.3 billion due to the financial inability of SOE Guaranteed Buyer to pay for atomic electricity for the needs of households at 15 kopecks per kWh.

As reported, the employees of Energoatom expressed doubts about the ability and intentions of the Verkhovna Rada to adopt a bill on the issue of government bonds to help nuclear workers, which was discussed in an open appeal of the company's team on January 25, signed by acting President of Energoatom Petro Kotin and Head of the trade union Oleksiy Lych.

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