Cabinet obliges Ukrenergo to direct UAH 208 million of dividends from profits for 2023 to state budget

The Cabinet of Ministers has obliged the Ukrenergo national energy company to direct dividends in the amount of UAH 207.883 million from the net profit for 2023 to the state budget.

This is stated in Government Order No. 589 dated June 28, the Ukrainian News agency reports.

"To agree on the approval of part of the net profit, which is directed by the private joint-stock company NEC Ukrenergo to the payment of dividends, in the amount of UAH 207.883 million, which is 90% of the consolidated profit based on the results of financial and economic activity in 2023, reflected in the consolidated annual financial statements, confirmed by an independent auditor, reduced by the amount of revenues from the distribution of the capacity of the interstate crossing in 2023 in accordance with the Law of Ukraine On the Electricity Market," the document states.

As the Ukrainian News agency earlier reported, Ukrenergo ended 2023 with a profit of UAH 400 million.

Ukrenergo carries out dispatching of the energy system of Ukraine and transfers electricity from power plants to the networks of energy supply companies.

In addition, the company is entrusted with the functions of the organizer of auctions regarding access to the crossing of interstate power transmission lines for the export of electricity.