ECU boosts electricity imports over 10 times in H1

In the first half of 2024, the state energy trader Energy Company of Ukraine (the ECU JSC) increased electricity imports more than ten times year over year.

This follows from a statement by the company, the Ukrainian News agency reports.

"In June 2024, the ECU, in particular, carried out a record daily amount of electricity imports for the entire history of the company, responding to the needs of the energy system and consumers. Currently, the ECU imports electricity from four countries: Hungary, Poland, Slovakia, and Romania. Part of the imported volumes is supplied directly to Ukrainian enterprises, which enables them to reduce the duration of planned outages (according to the legislation, for this, the share of imported electricity in consumption must be at least 80%)," the message says.

It is noted that according to the results of June, the import of electricity to Ukraine reached UAH 858,400 MWh, which is the largest monthly volume of import in at least the last ten years.

As the Ukrainian News agency earlier reported, in 2023, the ECU received a net profit of UAH 148.9 million.

The ECU began commercial operations in August 2022.

On June 28, 2022, the Cabinet of Ministers transferred from the sphere of management of the Ministry of Energy to the sphere of management of the Ministry of Economy, the authority to manage corporate rights belonging to the state in the authorized capital of the joint-stock company Energy Company of Ukraine.

The ECU JSC is a multi-disciplinary energy supply enterprise that carries out operations of purchase, sale, supply, and market optimization of energy consumption for commercial customers.

The company operates on the domestic and foreign markets of energy resources.

100% of the company's shares belong to the state.