PJSC “Electrometallurgical Plant ‘Dniprospetsstal’” (Zaporizhzhia) and Zaporizhzhia Electric Power Supply LLC have reached a settlement agreement to repay the consumer’s electricity debt in the amount of 89,986,568 thousand UAH for the period from January 1 to February 5, 2026.
According to court documents in Case No. 908/1091/26, copies of which are available to the “Interfax-Ukraine” agency, on May 4, 2026, the Commercial Court of Zaporizhzhia Oblast received a statement of claim from ‘Zaporizhzhiaelektropostachannya’ LLC against “Dniprospetsstal” with the participation of JSC “Zaporizhzhiaoblenergo,” seeking recovery of debt for consumed electricity in the amount of 89,986,568 thousand UAH, of which 85.398 million UAH is principal debt plus 3% per annum and the inflation index.
Following a series of hearings, at the court session on June 3, representatives of the parties to the case supported a joint statement by the parties approving the settlement agreement dated May 26, concluded between Zaporizhzhia Electric Power Supply LLC and Dniprospetsstal PJSC. The court granted the motion to approve the settlement agreement, under which the defendant acknowledges that its debt for electricity consumed during the period from January 1 to February 5, 2026, amounts to 87,986,568 thousand UAH and undertakes to repay it in several installments.
Within three calendar days of the lifting of the provisional measures ordered by the Commercial Court’s ruling of May 19, 2026, in Case No. 908/1091/26, the defendant shall pay the plaintiff 50 million UAH.
Payment of the remaining principal debt in the amount of 37,986,568 thousand UAH will be made according to the following schedule: 18,993,284 thousand UAH by June 30, 2026; a similar installment by July 30, 2026.
On this basis, the court, by a ruling dated June 3 and published on June 8 of this year, closed the case.
In another case, No. 908/1844/25, the Zaporizhzhia Regional Commercial Court, by a ruling dated June 11 of this year and published on June 12, partially granted the motion “Dniprospetsstal” to defer enforcement of the decision regarding the recovery, in favor of the Zaporizhzhia City Council, of lost revenue from the use of a land plot without title documents for the period from July 14, 2020, to February 28, 2025, in the amount of 3,661,675 thousand UAH, taking into account the outstanding balance as of June 11, 2026, in the amount of 3,138,578 thousand UAH.
The company must repay the debt within five months, making equal monthly payments of 627,715 thousand UAH.
As previously reported, in the first quarter of 2026, “Dniprospeztal” saw its losses increase 3.9-fold compared to the same period in 2025—to 510.751 million UAH. Uncovered losses as of the end of March 2026 amounted to 6 billion 775.516 million UAH.
The company’s net loss in 2025 increased by 22.1% compared to 2024—to 711.015 million UAH from 582.427 million UAH. As of December 31, 2025, the company’s workforce numbered 2,814 thousand people (in 2024—3,147 thousand people).
“Dniprospetsstal” is Ukraine’s sole manufacturer of long products and forgings made from special steel grades: stainless steel, tool steel, high-speed steel, bearing steel, structural steel, as well as heat-resistant nickel-based alloys.
According to the National Securities Commission’s data for the first quarter of 2026, its shares are held by Wenox Holdings Ltd. (47.1128%), Boundryco Ltd. (11.0131%), Gazaro Ltd. – 16.5197%, Crascoda Holdings – 6.6826%, and Middleprime Limited – 9.7901% (all based in Cyprus).
It was previously reported that in May 2008, the international investment and consulting group EastOne sold its approximately 30% stake in Dniprospetsstal, which had previously been held under the group’s mandate. The plant’s new shareholders are linked to VS Energy International, whose beneficiaries include several Russian entrepreneurs.
According to the report, in May 2023, pursuant to a decision by the National Security and Defense Council of Ukraine (NSDC) dated May 12, 2023, personal economic sanctions were imposed on the ultimate beneficial owner of PJSC “Dniprospetsstal.”
The authorized capital of the PJSC amounts to 49.720 million UAH.
COURT, DEBT, DNIPROSPETSSTAL, ELECTRICITY, electricity supply, Zaporizhzhia
