Politics 2023-09-15T04:55:22+03:00
Ukrainian news
ECU starts commercial activities

ECU starts commercial activities

ECU, start, commercial activities

The Energy Company of Ukraine (ECU) state joint-stock energy company has started commercial activities.

That follows from a statement by the company, Ukrainian News Agency reports.

In particular, the company made its first deliveries to the domestic market and is starting to export electricity to leading European trading companies.

"In order to secure export agreements, the ECU took part in daily auctions for access to the crossing for export, conducted by the Ukrenergo national energy company. Thus, on August 17, 2022, the ECU bought 62MW of the 125MW of available capacity in the direction of Slovakia and 62 MW out of 125 MW of available capacity in the direction of Romania, put up for auction. The entire amount of electricity for deliveries both to the domestic market and for export was purchased by the ECU from Kyiv-based Energoatom national nuclear energy generating company," the message states.

ECU General Director Vitalii Butenko noted that the start of active commercial activity in a short period of time is a priority for the management.

He also said that among the primary tasks the company is facing is the construction of a trading infrastructure for efficient trading of energy resources using modern IT technologies and digital tools, as well as the creation of a risk management system.

As Ukrainian News Agency earlier reported, on June 28, the Cabinet of Ministers transferred from the control of the Ministry of Energy to the control of the Ministry of Economy the authority to manage corporate rights belonging to the state in the authorized capital of the ECU.

The ECU 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 energy resources markets.

100-percent stake of the company belongs to the state.

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