KYIV. June 16 (Interfax-Ukraine) – National energy company Ukrenergo plans capital investment of UAH 5 billion for 2015, acting head of Ukrenergo Yuriy Kasich has said.
“Capital investment for this year will total UAH 5 billion [value added tax not included], including UAH 3.7 billion of borrowed funds. The borrowed funds will be sent to build the 750 kV Zaporizhia NPP-Kakhovska substation power line, the 750 kV Kakhovska substation and the 330 kV diversions of the existing circuit. This is UAH 2.2 billion. Another UAH 1.5 billion will be sent to build the 750 kV Rivne NPP-Kyivska substation power line with the expansion of the 750 kV Kyivska substation and two 750 kV and 330 kV diversions of the existing circuit,” he said.
He said that the company’s financial plan for 2015 approved by the Cabinet of Ministers on May 20, 2015 foresees net profit of UAH 35 million. Revenues are planned at UAH 4.245 billion and expenses – at UAH 4.21 billion.
“The sum of expenses mainly depends on the non-operation exchange rate difference, which was calculated using the expected change of the U.S. dollar and euro exchange rate to the hryvnia during the year,” Kasich said.
The company plans to send UAH 109 million in taxes and other mandatory payments to the national and local budgets.
He said that Ukrenergo saw UAH 1.2 billion of net loss with the planned net profit of UAH 1.5 million. Losses attributable to the hryvnia devaluation totaled around UAH 2 billion.
Ukrenergo operates Ukraine’s backbone and interstate transmission lines, as well as supervising the country’s national grid. It is a state-owned company and is controlled by the Ukrainian Energy and Coal Industry Ministry.
