Business news from Ukraine

UKRAINE INCREASES ELECTRICITY EXPORTS BY 8.8% IN JAN-APRIL, MAIN IMPORTERS – POLAND, MOLDOVA, HUNGARY, SLOVAKIA, ROMANIA

Ukraine increased electricity exports 8.8% in January-April 2018 year-on-year to 2.189 billion kilowatt-hours (kWh), the Ministry of Energy and Coal Industry has told Interfax-Ukraine.
Electricity supplies from the Burshtyn thermal power plant energy island in the direction of Hungary, Slovakia and Romania for the four month grew 7.8% compared to January-April 2017, to 1.421 billion kWh.
Electricity supplies to Poland rose 30.8%, to 541.1 million kWh. Ukraine exported 227.1 million kWh to Moldova in January-April 2018, which is 18.9% less than in January-April 2017.
No electricity was exported to Belarus or Russia in January-April 2018 or January-April 2017.
In April 2018, exports of Ukrainian electricity totaled 592.9 million kWh, which is 10.4% less than in April 2017.
Ukraine imported 11.4 million kWh of electricity in January-April 2018 (of which 10.9 million kWh from Russia and 0.5 million kWh from Belarus). Energomarket contracts account for the imports as technological transfers.

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UKRAINE EXPORTS ELECTRICITY FOR $109 MLN IN 2018, HUNGARY BUYS FOR $69 MLN

Ukraine in January-April this year exported electricity for $109.331 million, in particular in April for $28.86 million. According to the State Fiscal Service, in January-April electricity was supplied to Hungary for the amount of $69.146 million, Poland for $26.466 million, Moldova for $10.939 million and other countries for $2.779 million.
Thus, in monetary terms exports of Ukrainian electricity in January-April 2018 increased by 33.5% compared to the same period in 2017 ($81.899 million).
In addition, Ukraine in January-April 2018 imported electricity for $562,000 (from Russia for $539,000, from Belarus for $22,000 and Moldova for $1,000).

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UKRAINE EXPORTS ELECTRICITY FOR $80 MLN IN JAN-MARCH, LARGEST CUSTOMERS – HUNGARY, POLAND, MOLDOVA

Ukraine in January-March this year exported electricity for $80.471 million, in particular in March for $30.813 million. According to the State Fiscal Service, in January-March electricity was supplied to Hungary for the amount of $51.395 million, Poland for $19.024 million, Moldova for $8.147 million and other countries for $1.905 million.
Thus, in monetary terms exports of Ukrainian electricity in January-March 2018 increased by 18.1% compared to the same period in 2017 ($68.12 million).
In addition, Ukraine in January-March 2018 imported electricity for $457,000 (from Russia for $442,000, from Belarus for $15,000 and Moldova for $1,000).

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OKKO GROUP STARTS ELECTRICITY SUPPLYING TO CONSUMERS

OKKO Group in coming months will start supplying electricity to Ukrainian consumers, the company’s press service has reported. OKKO Contract received the respective license on March 23.
“We continue developing towards an integrated energy service company, in which clients will be able to acquire all the required energy from one source – petroleum products, natural gas and electricity,”, Head of the sales department for new OKKO products Volodymyr Ostaschuk said. The holding said that, in addition to electricity supplies, they are also going to be engaged in its electricity generation from renewable sources.
“By the end of 2018, solar panels and generating equipment with a total capacity of 200 kW will be installed on the roof and facade of the central office of the holding in Lviv,” OKKO said.
Galnaftogaz Concern manages one of the largest fuel station networks in Ukraine. It includes about 440 fuel filling stations, the majority under the OKKO brand. The majority shareholder of the company is Vitaliy Antonov, among the minority shareholders is the European Bank for Reconstruction and Development.

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STOCK MARKET COMMISSION SIGNS MEMO WITH EUROPEAN FEDERATION OF ENERGY TRADERS ENERGY MARKET DEVELOPMENT

The National Commission on Securities and the Stock Market has signed a memorandum of cooperation with the European Federation of Energy Traders (EFET) on the development of commodity markets for energy products and financial instruments markets, on which energy products are the basic asset.
According to a press release of the commission, the parties will cooperate in developing new securities and bankruptcy legislation that will provide the netting of commodity derivatives and the effective protection of netting in operations with such products such as natural gas, electricity and the like.
“Now energy companies and producers operating in the Ukrainian market do not benefit from liquidation netting when implementing agreements and must make prepayment for the supply of gas when dealing with counterparties with the EU. This situation does not contribute to the creation of a highly liquid energy market in Ukraine similar to the markets of the EU countries. Therefore there is the need to improve the domestic legislative framework and implement relevant EU directives,” the press release noted.
According to the commission, the norms on the introduction of liquidation net settlement of derivatives are already contained in draft law No. 7055 on capital markets and regulated markets.
EFET unites European energy traders working in wholesale electricity and natural gas markets. The federation was founded in 1999 in response to the liberalization of European electricity and gas markets.

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