NERC expands Ukrenergo's investment program for 2011 to UAH 1.5b

The National Energy Regulatory Commission of Ukraine (NERC) has expanded an investment program of National Energy Company Ukrenergo for 2011 by UAH 140.876 million, to UAH 1.486 billion (VAT is not included).

The decision was made at a commission meeting in Kyiv on Thursday.

The company's investment program was widened by a sum that was not used by Ukrenergo in 2010.

In particular, profit on capital investment into the upgrade and building of interstate power transmission lines was increased to UAH 519.566 million (VAT is not included), credit funds grew to UAH 311.581 million and budget funds were reduced to UAH 75.04 million.

The commission obliged the company to finish reconstruction of the Usatove 330 kV substation (Odesa region) and the 110 kV switching center by the end of this year to connect the 110 kV power transmission line to the Usatove 330 kV substation.

Ukrenergo operates Ukraine's backbone and interstate transmission lines, as well as supervising the country's national grid. Ukrenergo is a state-owned company and is controlled by the Ukrainian Energy and Coal Industry Ministry.