Power Industry Can Become a Driving Force of the Ukrainian Economy

Power Industry Can Become a Driving Force of the Ukrainian Economy

DTEK28 February 2017

Successful implementation of a package of economic reforms is impossible without a reform of the power sector. This opinion was expressed by DTEK’s CEO Maksym Tymchenko in his speech at the annual Ukrainian Energy Forum held in Kyiv.

“A resource-intensive and inefficient energy sector will set back any economic solutions. On the other hand, a free energy market and well-balanced power industry will kick-start economic efficiency,” emphasised Maksym Tymchenko, CEO of DTEK. “A new energy strategy and a market reform have to provide a foundation to efficient and quantitative changes.”

In his opinion, DTEK is ready to change its business to create a new and modern image of the country’s energy sector. “We can change ourselves, but we cannot do it for others. The entire market has to change, and this is the only way to ensure that changes are efficient and far-reaching. The approval of a new energy strategy and a market reform is the basis of these changes,” underlined Maksym Tymchenko.

Profile

DTEK is a strategic holding company that develops four business streams in the energy sector. DTEK's companies employ 75 thousand people. Maxim Timchenko is the Chief Executive Officer of DTEK. 

DTEK companies produce coal and natural gas, generate electricity at the fossil-fuelled power plants and renewable energy power plants, supply heating and electricity to end consumers, and provide energy services. Four operating companies—DTEK ENERGY, DTEK Renewables, DTEK Oil&Gas, DTEK ESCO— directly manage production companies in each of the business streams.

DTEK's production indicators for 2016: the company produced 31.3 mln tonnes of coal, 1.6 bcm of natural gas, generated (supplied) 40.1 bln kWh of electricity, out of which 608.4 mln kWh came from the Botievo wind farm;   and transmitted 45.8 bln kWh of electricity via the networks.

DTEK is part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov.

For more information, visit: www.dtek.com

To learn about the social partnership projects in progress in the towns and cities of DTEK companies' operations and get a detailed status report on their implementation, visit www.spp-dtek.com.ua

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