Enefit Industry AS, a subsidiary of the Estonian state-owned energy company Eesti Energia, has announced a tender for the construction of a 100 MW gas-fired combined cycle power plant as part of the Baltic Power Plant complex in Narva. According to Enefit Industry, it intends to use this power plant in the reserve capacity market to balance the power grid.
The company plans to sign a turnkey contract for the construction of the facility. The value of the state contract is estimated at €100 million, and construction is scheduled for completion in 2028.
“The power plant is designed to generate heat and electricity in cogeneration mode and to provide reserve capacity (….) It will operate on gas piston engine technology with a capacity of 4 to 13 MW. It is expected that the plant will run mainly on natural gas or biomethane and should already be capable of using up to 25% hydrogen as fuel,” the statement said.
It is noted that during the gas station’s operating hours, residual heat can be supplied to the Narva heating network.
“The situation on both the frequency markets and the day-ahead electricity market clearly shows that Estonia needs new flexible and dispatchable generation capacity. The advantage of an autonomous gas-fired power plant is its quick start-up, which helps to respond quickly when electricity prices are high,” said Enefit Industry CEO Lauri Karp, quoted in the report.
The preliminary qualification stage of the tender will last until May 29, and Enefit Industry expects to receive preliminary applications by the end of June.
The company emphasizes that the tender is a prerequisite for participation in the procurement of frequency reserve announced by the data transmission system operator Elering.
As reported, the Estonian energy company Eesti Energia has reorganized and spun off its shale extraction, processing, and liquid fuel production businesses into a separate entity, Enefit Industry AS.
“From April 1, the power plants will continue to operate as Enefit Power OU, while the liquid fuel production plants and extraction divisions will operate as Enefit Industry AS,” Eesti Energia said.
All shale-fired thermal power plants within the group perform a reserve function.
PJSC Novokramatorsk Machine-Building Plant (NKMZ, Kramatorsk, Donetsk region) will pay dividends to shareholders totaling UAH 223.314 million in the period from May 29 to November 1 this year at the rate of UAH 1 thousand per share (par value UAH 400).
According to a publication in the NSSMC’s information disclosure system, the decision to pay dividends was made by the company’s general shareholders’ meeting on April 28, and the supervisory board on May 5.
According to the NSSMC, as of the fourth quarter of 2024, the company’s president, Georgiy Skudar, owns more than 8.97% of NKMZ shares, while Galina Savenko and Elena Yakovleva, respectively, own almost 33.586% and 33.63% (according to media reports, Skudar’s daughters – IF-U). Since December 2023, the Supervisory Board of NKMZ has been chaired by the company’s Vice President Dmytro Skudar.
As reported, the shareholders allocated the entire net profit of UAH 36.33 million received in 2024, as well as part of the previously unused profit in the amount of UAH 186.98 million, to pay dividends.
According to the company, retained earnings as of the beginning of this year exceeded UAH 2.34 billion.
According to the company, NKMZ’s net income in 2024 increased by 3.2 times year-on-year to UAH 1 billion 146 million, including exports to Europe and Asia worth UAH 941.3 million (82%).
In 2024, Slovakia, Lithuania, Egypt and Luxembourg were added to the list of NKMZ’s largest importing countries along with Uzbekistan, Kazakhstan (where exports decreased 12.3 times over the year) and India (where exports increased 31 times). Deliveries in Ukraine increased 5.2 times to UAH 204.6 million.
In 2023, the plant suffered a loss of UAH 856.93 million.
As reported, NKMZ, whose facilities were forced to be mothballed with the start of Russia’s full-scale military invasion of Ukraine, began to partially resume operations on October 1, 2023.
Last year, the workers were forced to stand idle from January 29 to March 1 “due to irregular production and economic activities, lack of centralized heating of production units and saving of fuel and energy resources.”
NKMZ is a city-forming enterprise in Kramatorsk and the largest in Ukraine for the production of rolling, metallurgical, forging and pressing, hydraulic, mining, lifting and transport, hydraulic and railway equipment.
As of the beginning of 2023, the average number of its employees exceeded 7.2 thousand, and as of the beginning of 2025, it was 5.660 thousand.
The National Bank of Ukraine (NBU), in the absence of currency purchases, increased its sales on the interbank market last week by $123.8 million, or 20.0%, to $742.70 million, according to statistics from the regulator on its website. The data published by the regulator during this period indicate a change in the cash currency market: while on Monday sales exceeded purchases by $6.4 million, on Tuesday purchases exceeded sales by $6.8 million, and on Thursday there was a negative balance of $40.6 million.
‘Household activity in the cash market has been declining for the third month in a row: average daily demand fell from $41 million in February to $17 million in April. This indicates a decrease in panic sentiment, market saturation and/or the exhaustion of the population’s purchasing power against the backdrop of weak economic growth. Another factor could be the spring holiday cycle, which is a traditional period for selling foreign currency savings to celebrate and finance short-term vacations,’ commented KYT Group on the situation in the cash market.
The official hryvnia exchange rate strengthened in the first half of the week from 41.75 UAH/USD to 41.4706 UAH/USD, but weakened again to 41.7091 UAH/USD by the end of the week. Despite the increase in the negative balance, the exchange rate on the cash market did not change significantly, and over the weekend, the dollar even fell by 5 kopecks. The purchase rate fell to 41.40 UAH/$1, and the sale rate fell to 41.50 UAH/$1.
According to KYT Group experts, the dollar exchange rate will remain within a narrow range.
‘Short-term outlook (2-4 weeks): the most likely movement is towards 41.20-41.80 UAH/USD with minor deviations (±20-30 kopecks). Volatility is low, speculative demand is limited. Medium term (2-4 months): a correction to 42.00-42.50 UAH/$1 is possible in the event of increased imports, accelerated inflation or a weakening of external financing,’ the company predicts.
Source: https://interfax.com.ua/news/projects/1067965.html
Following the first round of the presidential elections in Romania, held on May 4, 2025, two candidates with opposing political views advanced to the second round: far-right nationalist George Simion and pro-European Nicușor Dăn.
According to data from Romania’s Central Election Bureau, after almost all ballots were counted:
George Simion, leader of the Alliance for the Unity of Romanians (AUR) party, received 40.96% of the vote (3,862,404 voters).
Nicușor Dăn, an independent candidate and mayor of Bucharest, received 20.99% of the vote (1,979,711 voters).
The candidate from the ruling PSD-PNL-UDMR coalition, Crin Antonescu, lost to Dan towards the end of the vote count and did not make it to the second round.
The second round of elections is scheduled for May 18, 2025.
Political views of the candidates
Djordje Simion
Leader of the far-right AUR party, Simion is known for his nationalist and Eurosceptic rhetoric. His main positions include:
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Skepticism toward the EU and NATO: Criticizes EU leadership and opposes greater integration.
Opposition to military aid to Ukraine: Believes that Romania should not provide military aid to Ukraine.
Support for the idea of a Greater Romania: Advocates restoring Romania’s pre-World War II borders, including territories in Moldova and Ukraine.
Proximity to Donald Trump’s ideology: expresses support for the former US president and his policies.
Simeon has also stated his intention to include Calin Georgescu, who was previously barred from participating in the elections due to allegations of pro-Russian ties, in his government.
Nicușor Dăn
The current mayor of Bucharest, Dan positions himself as a pro-European reformer. His key positions:
Support for Romania’s membership in the EU and NATO: advocates strengthening ties with Western allies.
Fighting corruption: emphasizes the need for reforms and transparency in public administration.
Improving urban infrastructure: as mayor, he has focused on developing the urban environment and improving the quality of life for citizens.
Impact on domestic and foreign policy
The election results could significantly influence Romania’s course:
If Simion wins:
A shift away from the pro-European course and a strengthening of nationalist policies are possible.
Potential deterioration of relations with the EU and neighboring countries, especially in the context of territorial claims.
If Dan wins:
Maintaining and strengthening ties with the EU and NATO.
In March, the State Tax Service (STS) began actively monitoring money transfers to the bank accounts of Ukrainians who sell goods online. The tax authorities recorded 1.4 million transactions totaling 1.6 billion hryvnia in less than a month. Additional attention was drawn to 11,000 Ukrainians who received more than 50 transfers to their accounts. The average check for such transactions was 1,142 hryvnia.
The Tax Service recorded 1.4 million transactions totaling 1.6 billion hryvnia in less than a month, from March 1 to 20. Eleven thousand people who received more than 50 transfers in 2025 came under scrutiny.
On average, there were 127 transfers per person during this period. However, in some cases, the number of transactions per recipient reached several hundred. At the same time, the average check for such transactions was 1,142 hryvnia.
It should be noted that on March 1, 2025, the State Tax Service (STS) began actively monitoring money transfers to the bank accounts of Ukrainians who sell goods online. The new control tool — access to the RRO data accounting system — allows for the automatic identification of individuals and entrepreneurs who systematically receive funds but are not registered as entrepreneurs or do not use cash registers.
Currently, the STS has not brought such persons to justice. However, the risks for violators are serious. For example, the fine for operating without registration can range from 17,000 to 85,000 UAH with confiscation of property. Additionally, up to 200% of the value of goods or services that were sold without using a cash register.
In general, monitoring covers individuals who regularly receive funds for goods/services (especially through marketplaces or social networks) and sole proprietors who have not registered a cash register, although they are required to do so.
At the same time, the Tax Service does not take into account one-time sales of personal items through OLX or similar platforms or marketplaces.
https://opendatabot.ua/analytics/dps-personal-research
DTEK Kyiv Grids has completed almost 40% of the repairs planned for 2025 to prepare the city’s energy infrastructure for stable operation during peak consumption periods, in particular during the heat wave or autumn and winter.
“We have already completed almost 40% of the activities planned for 2025. In particular, we have repaired more than 90 transformer substations of different voltage classes and completed more than 300 repairs of cable lines,” the company said, citing Denys Bondar, CEO of DTEK Kyiv Electricity Grids.
In total, in 2025, the power engineers of the transmission system operator plan to carry out repairs at six high-voltage substations, as well as 802 distribution and transformer points. In addition, it is planned to repair almost 60 kilometers of overhead power lines, 60 transformers, 217 switches and carry out 2,150 repairs on underground cable power lines.
As noted in the company, the power engineers of the capital conduct inspections, diagnostics of equipment and electrical lines, in particular, using thermal imagers, mobile electrical laboratories, analysis of technical fluids, etc. and, based on the data obtained, identify weaknesses where an accident may occur.
As reported, last year DTEK Kyiv Electricity Networks repaired and reconstructed 797 power facilities and 62 km of power lines and performed 5 thousand repairs of cable lines, investing almost UAH 1 billion in these projects.
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