DTEK categorically opposes NEURC’s decision to increase Ukrenergo’s electricity transmission tariff

DTEK categorically opposes NEURC’s decision to increase Ukrenergo’s electricity transmission tariff

DTEK24 June 2020

According to D.Trading CEO Vitaly Butenko, this initiative will not only exacerbate the crisis in the energy market, but also significantly worsen the situation for industry. Vitaly Butenko expressed this position on air during an emission of the program “Golovanov’s Time” on the “Ukraine 24” TV channel.

“The business and country's energy sector is not a deck of cards that you can play as you want. Previously, thermal generation suffered from such thoughtless initiatives of NEURC, then nuclear, "green" generation, now industrial companies have gotten their hands on it. No industry in the country can withstand such an increase in Ukrenergo's tariff. So, it’s impossible to not name such actions taken by the Regulator as a blow to the new market”, Butenko emphasized.

According to D.Trading CEO, in order to stabilize the situation, NEURC should offer solutions of compromise, and not incite hostility between market participants.

"There is such an expression "a bad world is better than a good war". For example, the government signed a compromise memorandum with investors in the green energy sector. This is the same world. Therefore, tariffs will be reduced; the financial burden on the energy market will drop significantly. This is good for our energy industry, but, on the other hand, they will pay off debts to investors, and they will pay 100% for green energy. This is an example of compromise. Against the background of this compromise decision between the government and investors, the Regulator proposes to increase Ukrenergo's tariffs fourfold. The purpose of this provocation is to create an artificial war. Metallurgists against the "green" producers, against consumers, external investors against the government of Ukraine. But we understand that either it works for everyone, both for producers and consumers, or it does not work for anyone. Therefore, a solution must be sought that works for all market participants and does not create a situation where some actors are pitted against one another. “This should not be the case”, Butenko noted.

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DТЕК is the largest private investor in Ukraine’s energy sector.

DTEK Group produces coal and natural gas, generates electricity at thermal, solar and wind power plants, distributes electricity, supplies electricity to end consumers, provides energy efficient solutions and develops a network of EV charging stations.
In 2019, DTEK’s capital investments totalled UAH 23 bln. Moreover, the company paid UAH 23.4 bln of taxes. DTEK employs 70 thousand people.

The company is 100% owned by SCM Limited. Ultimate beneficial owner – Rinat Akhmetov.

 

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