PrJSC NPC Ukrenergo paid 454 mln UAH to the Guaranteed Buyer for compensation of the expenditures for electricity purchase from renewables generation on “green” tariff.
It constitutes around 30% of the prognosed debt for July – 1.58 bln UAH. The final amount of debt will be calculated after the end of the month.
As previously reported, because of the provisional suspension of the new tariffs for Ukrenergo for the second half of 2019 by the court, in July 2019 the company issues invoices for contracts on its services with the old tariff that was in force before the 1st of July 2019 – 5.740 kop/kW*h. At the same time in invoices appeared a new column “recommended for payment” where the payment is calculated using new tariffs for the 2nd half of 2019: 347,43 UAH/MW*h — for transmission services and 8,90 UAH/MW*h — for dispatching (operational and technical) control.
Now the market agents pay for Ukrenergo’s services unevenly and with two different tariffs: the old one and the new one, and many of them don’t pay anything at all.
Additional money that Ukrenergo receives recommended tariff are spent on priorities determined by the company right after the new tariffs were suspended by the court: electricity purchase for covering technological losses in the grid and payments to the Guaranteed Buyer for compensation of the expenditures for electricity purchase from renewables generation on “green” tariff. Compensation for renewables is a special obligation imposed on Ukrenergo according to the legislation in force.
At the same time, the instability of payments by the market agents and their insufficient amount for covering the costs Ukrenergo can’t deliver on its obligations fully and in time. Because the previous tariff for the 3rd quarter of 2019 doesn’t cover Ukrenergo’s costs related to its role on the new electricity market. Therefore, suspension of the tariff for the company caused 2.4 bln UAH of deficit just in July.
As previously reported, the court postponed examination of PrJSC NPC Ukrenergo’s appeal concerning suspension of the NEURC’s resolutions that establish tariffs for Ukrenergo for electricity transmission and dispatching (operational and technical) control for the 2nd half of 2019. The next hearings are scheduled for 13:00 on the 21st of August.
Tariffs for the company for the 2nd half of 2019 were increased because expenditures, previously carried out by SE Energorynok, had been included into their structure. Operational costs of Ukrenergo remained on the same level and expected net profit for the year even decreased from 2.2 bln UAH to 2.17 bln UAH.