Ukrenergo Took 10.25 billion UAH Loan from State Banks for Payments to Guaranteed Buyer

TSO NEC Ukrenergo took out the loans from three state banks (UAH 5 billion credit from Oshadbank, 4 UAH billion from Ukreximbank, and UAH 1.25 billion from Ukrgasbank) to pay off its debt to SE Guaranteed Buyer.

That was noted in the published Ukrenergo’s grounding of the necessary revision of the transmission tariff by the National Energy and Utilities Regulatory Commissiom.

The corresponding credit agreements were signed on December 30-31, 2020.

According to Ukrenergo’s data, the company will have to pay UAH 1.23 billion of the interest rate to the banks and UAH 325 thousand as the state guarantee fee to the Ministry of Finance of Ukraine.

Thus, in accordance to TSO’s calculation, the transmission tariff for 2021 should be up by 4% from 293.93 (the current rate) to 305.74 UAH/MWh.

ExPro Reference: As of January 5, 2021, Guaranteed Buyer owes UAH 25.1 billion renewable energy generators for 2020 electricity output. The state enterprise paid off 47.7% of debt for 2020.

Also, Guaranteed Buyer is still due UAH 7.5 billion to SE NNEGC Energoatom and PrJSC Ukrhydroenergo for electricity bought under the PSO mechanism. The overall debt of Ukrenergo to Guaranteed Buyer counts UAH 30.8 billion.

17:20 / 6 January 2021

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