Business news from Ukraine

Business news from Ukraine

China continues to increase power generation

The amount of electricity generated in China in July rose 2.5% year-on-year to a record 883.1 billion kWh, according to the State Statistics Office.

Including generation at hydroelectric power plants jumped 36.2% (to 166.4 billion kWh), at solar power plants – 16.4%, at nuclear power plants – 4.3%. Meanwhile, electricity production at thermal power plants fell by 4.9% (to 574.9 billion kWh).

In January-July, the country generated 5.32 trillion kWh, which is 4.8% higher than in the same period of 2023. At the same time, production at thermal power plants increased by 0.5% (to 3.58 trillion kWh). As reported, China’s power generation in 2023 increased by 5.2% to 8.9 trillion kWh.

 

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“Ukrenergo” is working with Poland to increase electricity supplies to Ukraine in autumn and winter

NPC Ukrenergo, together with Poland, is working to increase the technical capabilities and volumes of electricity supplies to Ukraine in autumn and winter, said Volodymyr Kudrytskyi, Chairman of the Board of the NPC.
“We continue to work not only on repairs and development of protection, but also on finding solutions to attract more electricity to Ukraine from Europe. In particular, we are actively working with the Polish side to increase the technical capabilities and volume of electricity supplies to Ukraine in the fall and winter. We are working on options to compensate for the deficit caused by Russian attacks,” he wrote on his Facebook page on Friday evening.
Kudrytsky noted that he would provide more details when agreements are reached.
He also emphasized that Ukrenergo has not imposed any restrictions on electricity consumption for almost a week now, as there is enough electricity in the system to meet all needs.
Also, according to him, the dispatch center does not plan to cut power this weekend. “This is an important relief for all Ukrainians, but I have to remind you that we have no right to relax: the damage to the power system is significant, and we still face challenges. The heat above 30 degrees may still return, and then the situation in the power system may change. Please follow our messages and those of your regional power distribution companies,” emphasized the CEO.

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Schedules of hourly power outages on Saturday will be applied throughout day

Schedules of hourly power outages on Saturday, July 6, will be applied throughout the day, DTEK Energy Holding Company said.

According to its message in its Telegram channel, this is the order of the system operator NEC Ukrenergo.

https://interfax.com.ua/

 

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Norway allocates $103 mln to Ukraine for electricity supply

Norway said it has already decided that 120 million kroner out of 1.1 billion kroner will be used for repairs in Kharkiv region, which has been particularly hard hit by Russian attacks recently.

Norway will provide 1.1 billion kroner ($103 million) to Ukraine to repair the country’s energy infrastructure and ensure the country’s power supply before next winter, the country announced on Sunday, June 16. “Russia is conducting massive, systematic attacks to paralyze the energy system, but Ukrainians are working day and night to provide electricity to the population,” Prime Minister Jonas Gara Storé said in a statement.

According to new estimates, more than 50% of Ukraine’s power generation capacity has been destroyed, the government said. “We are in close dialog with Ukraine on how it can make the most efficient use of these funds. The Ukrainians themselves understand what is needed best,” Støre said, adding that it is important to start repairing the infrastructure before the onset of winter.

Norway said that it has already decided that 120 million kroner will be spent on repairs in the Kharkiv region, which has been particularly hard hit by Russian attacks recently. The solar panels will be installed in seven maternity hospitals and operating rooms in the Kharkiv region, Støre said in a statement released during his participation in the Ukraine peace summit in Switzerland.

Norway has allocated 2.1 billion kroner to the Ukrainian energy sector in 2022, and 1.9 billion kroner last year. The Scandinavian country has pledged 75 billion kroner in military and civilian aid to Ukraine for the five-year period 2023-2027, with funds to be allocated each year according to Ukraine’s needs.

Source: https://www.lemonde.fr/en/international/article/2024/06/16/norway-gives-103-million-to-ukraine-to-secure-electricity_6674925_4.html

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Ukraine appeals to European partners for maximum assistance in increasing electricity imports

Ukraine is asking its European partners to maximize their assistance in increasing electricity imports to 2.3 GW from 1.7 GW today, First Vice Prime Minister and Minister of Economy Yulia Svyrydenko has said.

“We need a political and technical decision to increase electricity imports to 2.3 GW,” she said at the Ukraine Recovery Conference (URC-2024) in Berlin on Tuesday.

Svyrydenko noted that the energy issue will be the main topic during the two days of the conference, as Russia has already destroyed half of Ukraine’s generating capacity, or about 9 GW, which is enough to provide electricity to 11 million German citizens.

According to her, in addition to increased imports, the three other priorities in this area are rapid restoration where physically possible, the commissioning of up to 1 GW of capacity this year and another 4 GW over the next two years, and loans.

“We desperately need equipment from your decommissioned power plants and direct financial support,” the First Deputy Prime Minister said.

She added that European, especially German, companies are global technological leaders in this field, and the first contracts will be signed at this conference, but more active participation of international financial organizations and expert credit agencies around the world is needed.

Svyrydenko emphasized that the second key task is to ensure reliable air defense.

“We see a direct dependence of economic recovery on the quality of air defense. Thanks to the protection of our ports, we were able to increase exports to 13 million tons of cargo (per month). This is almost the pre-war level,” the First Deputy Prime Minister explained.

Speaking about reforms, Svyrydenko noted that replacing the word “reforms” with the word “recovery” in the title of the conference after the start of the full-scale invasion means recognizing that the reforms combined in the reform matrix are necessary but not sufficient to accelerate economic growth.

“The analysis shows that reforms alone are not enough for economic growth, the only factor that can stimulate long-term growth is investment, it is private sector participation.
If Ukraine wants to have a chance to catch up with the EU countries in terms of GDP, we need investments or technology transfer in the amount of $10 to $13 billion a year over the next 10 years. We need investors to come to Ukraine now, and not wait until the war is over, because this is a prerequisite for rapid economic growth and future victory,” the First Deputy Prime Minister summarized.

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Cabinet of Ministers of Ukraine has raised electricity tariff for households by 64% from June 1

The Cabinet of Ministers of Ukraine has set from June 1, 2024 the electricity tariff for the population at the rate of 4.32 UAH/kWh with VAT, which is 64% higher than the current tariff of 2.64 UAH/kWh with VAT.

This was announced by the first deputy head of the energy Committee of the Verkhovna Rada Oleksiy Kucherenko.

“4.32 is a single price. For electric heating – up to 2000 kWh at the old price in the heating period, in the summer as for everyone,” he wrote in his Facebook on Friday.

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