Ukrenergo plans to close UAH 15 billion of debts to Guaranteed Buyer in 2020 in autumn

The NEC Ukrenergo plans to close about UAH 15 billion in debts to the SE Guaranteed Buyer, which were accumulated during 2020 under the public special obligations (PSO) mechanism, in the fall of this year, before the claims of the latter are satisfied and enforcement proceedings begin.

This was announced on June 11, in an exclusive comment to ExPro by Maksym Yurkov, Member of the Board and Director of the Legal Department of the NEC Ukrenergo, during the II Conference on Energy Law from the Ukrainian Bar Association.

"I hope that as long as a potential court decision can take effect (the Guaranteed Buyer's lawsuit against the NEC Ukrenergo for recovery of UAH 25 billion, ed.), We will repay the body of the debt. Today we understand that we owe not UAH 25 billion, but UAH 15 billion [UAH 10.3 billion was repaid at the expense of loans from state banks - Ed.]. We understand perfectly well that we have a plan to get out of this situation. And until a court decision is made, the situation will be resolved," Yurkov said.

He also said that the NEC Ukrenergo has plans to place bonds under state guarantees this year.

"In my opinion, we should attract slightly less than provided by the state budget [UAH 24 billion - ed.], because then in 2020, parliamentarians proceeded from the amount of debt. However, due to raising funds from state-owned banks, the required amount of additional funds in the company is currently slightly smaller. We are currently working hard in this direction in order to complete this process in the fall," Yurkov summed up.

11:36 / 14 June 2021

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