Some UAH 500 mln allocated for public transfer from gas to solid fuel – Energy Efficiency Agency

10:36, 14.08.2015 1 min read

The state has allocated UAH 500 million to compensate for the population's transfer from gas to solid fuel and plans to extend the program for recipients of subsidies, Head of the State Agency on Energy Efficiency and Energy Saving Serhiy Savchuk has said.

"Under the current program nearly UAH 500 million was foreseen for compensation this year. And banks have to provide their credit resources in the amount of another UAH 1.2 billion. So the total sum will stand at UAH 1.5 billion," he said at a briefing in Kyiv.

According to him, prior to June 2015 inclusive the agency spent UAH 14 million on compensation for procurement of equipment and materials but not labor.

Savchuk said that loans to the public are issued by three state-owned banks: Oschadbank, Ukrgasbank and Ukreximbank. According to him, they issued loans worth a total of UAH 300 million to 17,000 households.

Savchuk expressed confidence that the funds foreseen are enough for refunds to people who will formalize subsidies.