In 2021, the Ukrenergo national energy company, according to unaudited data, received a net profit of UAH 141 million against the UAH 27.498 billion loss in 2020.
The company announced this in a statement, Ukrainian News Agency reports.
At the same time, 90% of the annual profit (UAH 127 million) will be paid as dividends to the state.
The company ended the first quarter of 2022 with a net profit of UAH 2 billion.
Volodymyr Kudrytskyi, Ukrenergo board chairman, noted that in 2020 Ukrenergo received a loss of UAH 27 billion, which was due to a shortage of funds in tariffs to cover the necessary costs, primarily market.
"But in 2021, despite the tariff deficit in the amount of UAH 6.9 billion, Ukrenergo was able to reach a profit of UAH 141 million. This was achieved thanks to effective actions in the balancing market, which made it possible to save UAH 2.3 billion on auxiliary services and receive UAH 1.9 billion of income from the sale of electricity in the balancing market. Also, UAH 0.9 billion of receipts were received based on the results of auctions for the sale of access to interstate sections and UAH 1.94 billion - from other types of operating activities of the company," the message says.
It is also noted that the main challenge today, in addition to eliminating the consequences of infrastructure destruction, is to ensure the company's liquidity and stable financial relations in the electricity market.
As Ukrainian News Agency earlier reported, in 2020, the Ukrenergo national energy company received UAH 27.498 billion in losses, against UAH 1.857 billion in profit in 2019.
Ukrenergo's net revenues in 2020 increased 2.2 times or by UAH 31.921 billion to UAH 58.249 billion.
Ukrenergo dispatches the power system of Ukraine and transfers electricity from power plants to the grids of power supply companies.
Besides, the company is entrusted with the functions of organizer of auctions for access to the cross-section of interstate power transmission lines for the export of electricity.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.