Court Rejects Ukrenergo’s Appeal, Orders Company To Pay DTEK UAH 1 Billion

The Northern Commercial Court of Appeal has rejected an appeal of the Ukrenergo national energy company and ordered it to pay UAH 633 million to DTEK Skhidenergo UAH 633 million and UAH 399.4 million to DTEK Dniproenergo due to improper fulfillment of obligations under the agreement on participation in the balancing market.

This follows from court records, Ukrainian News Agency reports.

As Ukrainian News Agency earlier reported, in the first quarter of 2021, Ukrenergo’s net profit was UAH 3.727 billion as against UAH 5.325 billion in net loss in the first quarter of 2020.

In 2020, Ukrenergo’s net revenue rose 2.2 times or by UAH 31.921 billion year over year to UAH 58.249 billion.