Business news from Ukraine


National Energy Company Ukrenergo plans to attract another EUR 24.5 million from Kreditanstalt Fuer Wiederaufbau (KfW, Germany) to implement a project to increase effectiveness of electricity transmission, which is the third phase of reconstruction and automation of the company’s substations.
According to a company’s press release, the relevant intentions were recorded in the protocol on the results of the intergovernmental negotiations held on May 20 in Kyiv with the participation of the company.
“This will significantly improve the reliability of power transmission and ensure the technical compliance of equipment and network operation with the standards and requirements of ENTSO-E [the European Network of Transmission System Operators for Electricity],” the press service reported, citing Ukrenergo Deputy Director for investment Volodymyr Kudritsky as saying.
In general, KfW announced its readiness to provide more than EUR 80 million for the implementation of reforms in a number of sectors of the Ukrainian economy.
During the meeting, Ukrenergo spoke about the implementation of a roadmap for the integration of the Ukrainian power grid with ENTSO-E. In this direction, the company cooperates with the German transmission system operator 50 Hertz, which is now a key partner of Ukrenergo in the process of integrating networks.



National energy company Ukrenergo and the electricity transmission system operator SEPS (Slovakia) will sign a new agreement of cooperation and joint operation of the 400 kV overhead power line Mukachevo-Velke Kapusany, connecting the Burshtyn thermal power plant island and the Slovakian power grid, by the end of 2019, the press service of Ukrenergo has reported.
The need to update the agreement, which sets out the rules and requirements regarding the operation of the line, the order of interaction between operators during joint operation of the interstate section is due to changes in the rules and requirements of ENTSO-E (the European Network of System Operators of Electricity System).
The new document will be developed on the basis of the principles that most of the European operators of the electricity transmission system apply, the company said.
As reported, in October 2018, the Ukrainian and Slovakian operators agreed on building a new power line as an optimal solution for boosting power transmission between Ukraine and Slovakia. According to the agreements, a new 400 kV overhead line will be built, which will connect the existing 400 kV substations Mukachevo and Velke Kapusany in the single-circuit version with the possibility of further upgrading it to double-circuit in case of an increase in the volume of interstate flows. Considering the condition of the existing 400 kV overhead line Mukachevo-Velke Kapusany, which has been operating since 1963, its modernization was recognized as inexpedient. The line will work until the launch of the new line.
This project is a candidate for projects of mutual interest (PMI).


National energy company Ukrenergo on April 1, 2019 started accepting documents to register electricity market players, the company has said.
Ukrenergo recalled that the registration is a mandatory condition for operation on the electricity market from July 1, 2019, as well as for testing the subsystem accepting and processing timetables of market players and the function of the payment administrator.
The form of the application for the registration that is to be sent to Ukrenergo in paper and guidelines are posted on the company’s website ( The company also created a call center for consultations, phone (044) 238 37 00.
As reported, in July 2019 in Ukraine, the launch of a new model of the wholesale electricity market is scheduled pursuant to the law on the electricity market passed in April 2017. It is planned to move from work on the “single buyer” model to a competitive mechanism providing for bilateral contracts between producers and large consumers, suppliers, the introduction of the balancing market, the day-ahead market and the intraday market.

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The European Bank for Reconstruction and Development (EBRD) could provide EUR 149 million to national energy company Ukrenergo for the project to modernize power transmission networks, the bank has said on its website.
The project has passed final review, pending board approval.
The loan will finance procurement of up to 26 new transformers and the automation and upgrade of 12 high voltage substations in key locations of the transmission network of Ukraine. The total project cost is EUR 198.2 million, including EUR 49.2 million of own funds of Ukrenergo.
The project will enable Ukrenergo to upgrade its key transmission infrastructure, required for synchronization with the European Network of Transmission System Operators for Electricity (ENTSO-E).
In addition, the modernization will result in substantial energy savings and associated CO2 emission reduction.

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National Energy Company Ukrenergo as part of the modernization of the power grid installed the first interactive dispatch board made by Belgium’s Barco. The board will be launched on March 18, the press service of the company has reported. The board, combined with the operational information complex of the automated dispatch control system, transmits information about the state of the main power equipment of the Western energy system round-the-clock in a multi-window mode.
The equipment allows quickly and conveniently displaying the necessary information on any screen window – separate power hubs, diagrams and schemes. In the coming years, it is planned that the dispatch boards will be updated in all other regional dispatch centers.
The project, worth UAH 17.5 million, was implemented as part of the investment program of the Western energy system for 2018.
Ukrenergo operates trunk and interstate transmission lines, as well as centralized dispatching of the country’s integrated power grids. It is a state-owned enterprise managed by Ukraine’s Finance Ministry. The company will be soon reorganized into a private joint-stock company.



Ukrenergo has worked out a concept for the development of cybersecurity for 2019-2023, based on the analysis of the current state of information security in the company, its own developments and the experience of world leaders in the field of cyber defense and information technologies, primarily Israel.
According to a press release, in four years Ukrenergo intends to implement 30 projects in order to enhance the security of information infrastructure and minimize the negative impact of cybersecurity incidents on the company’s work.
In particular, the matter concerns the creation of a secure transport network of the enterprise for secure interaction with the outside world, the organization of secure basic infrastructure and data processing centers, as well as setting up an operational security center and organizing professional training for personnel.
The draft concept was reviewed and received positive feedback from the Security Service of Ukraine and the State Service of Special Communication and Information Protection.
As reported, in June 2017 the computer networks of the Cabinet of Ministers, dozens of state and private large banks and companies in Ukraine became the victims of a massive virus attack, which in some cases led to the cessation of their operations.