DTEK defends transparent and fair working conditions, in addition to uniform rules for all participants in the energy market

DTEK defends transparent and fair working conditions, in addition to uniform rules for all participants in the energy market

DTEK09 October 2020

DTEK defends transparent and fair working conditions, in addition to uniform rules for all participants in the energy market

DTEK stands against unprofessional, manual, administrative interference in the operation of the energy market. The company will always defend Ukraine's alignment with European values: transparency and fair working conditions for all market players.

In response to the public accusation against DTEK by NEURC, the company wishes to state that:

Systemic administrative interventions in the market, which began in September 2019, have had a negative impact on the energy industry. Since the start of the energy market reforms in Ukraine, the NEURC has placed unreasonable restrictions on electricity producers, introduced regressive regulation, and partaken in haphazard interference of the market. In addition, there was no reaction on the part of the NEURC to documented manipulations by traders, which caused direct economic damage to domestic generation, primarily affecting state-owned companies. Simultaneously, the NEURC continues to deliberately block initiatives to stabilise the market in order to protect the private interests of individual traders, which has led to deep distortions and run counter to transparent and open market competition. As a result, the NEURC’s handling of the market reform of the energy sector of Ukraine has culminated in the largest crisis of all time in the country’s energy sector.

The accusations made against DTEK by the NEURC are an added strain on private business, which is the largest taxpayer and employer in Ukraine. This is an attempt by the Regulator to shift responsibility for its negligence in the management of Ukraine’s economic interests and failure to fulfill its direct. We are confident that the State bureau of investigation will provide an objective assessment of the NERC’s work.

DTEK, as an expert and corporate citizen, has always publicly expressed and will continue to express its positions in terms of the development of the energy industry and the efficiency of government agencies.

We openly provide our expertise on key issues and have established an open dialogue between all market participants to find a way out of the systemic crisis in the industry.

All accusations made against DTEK are groundless and were initiated by opponents of both Ukraine’s European course and fair market.

 

Profile

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.

 

Corporate Communications Department
DTEK
Tel.: +38 (044) 581 45 35
+38 (044) 581 45 70
E-mail: pr@dtek.com
www.dtek.com