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    Ukrenergo received one of the main financial documents – the Cabinet of Ministers of Ukraine approved the Company’s Financial plan for 2017.

    The Financial plan is formed up for a year and reflects the expected financial results in the year under planning, sources of funds formation and directions of their use for maintenance of activity and development of the enterprise, as well as fulfillment of its obligations.

    The Financial plan of Ukrenergo is based on the macroeconomic indicators envisaged by the Law of Ukraine “On the State Budget of Ukraine for 2017”, as well as budget programs in common with the IFI’s projects.

    The main indicators provided in the Financial plan:

    • total income – 8,2 mln. UAH (that is more than planned for 2016 by 360.9 mln. UAH or 4.6%);
    • net income – 7,98 mln. UAH (that is more by 270.9 mln. UAH or 3.6%);
    • tariff for 2017 – 6.933 kopecks per kWh (by 0.617 kopecks per kWh more than in 2016);
    • amount of electricity supply – 111,500 mln. kWh.

    It should be noted that 98.14% of Ukrenergo’s income is generated through the implementation of electricity transmission services by the supergrids and interstate electric mains, taking into account centralized dispatch control of the UES of Ukraine.

    The expenses in the financial plan are based on the structure of the tariff for 2017, and take into account the requirements of the current legislation of Ukraine.

    The total amount of expenses is provided at the level of 5,655.06 mln. UAH. This includes self-cost, administrative, financial expenses, etc.

    The net profit is planned at the level of 2,554.1 mln. UAH.

    Budgetary payments will amount to 3,546.7 mln. UAH.

    In 2017, in accordance with the financial plan and existing loan agreements with the IFI, Ukrenergo will attract 1,297.5 mln. UAH of loan funds for implementation of the following projects:

    • construction of 750 kV O.H.L. (overhead line) Zaporizka NPP (nuclear power plant) – Kakhovska with “Kakhovska” 750 kV electric substation and approach lines of 330 kV O.H.L. – 128.1 mln. UAH;
    • construction of 750 kV O.H.L. Rivnenska NPP – Kyivska with extension of “Kyivska” 750 kV electric substation and approach lines of 750 kV O.H.L. – 182.5 mln. UAH;
    • reconstruction of “Kyivska” 750 kV electric substation with installation of the second 750 kV autotransformer and construction of approach lines of 330 kV O.H.L. in Kyiv region – 413.2 mln. UAH;
    • “West” 330/110/35 kV electric substation with approach lines of 330 kV O.H.L. – 311.01 mln. UAH;
    • replacement, reconstruction, technical re-equipment of electric substations – 262.66 mln. UAH.

    The compensation of expenses for the loan portfolio servicing will be carried out at the expense of tariff of the enterprise, the structure of which provides for the return of borrowed funds in the amount of 1,358.2 mln. UAH.

    The total amount of capital investments will amount to 3,658,562 thousand UAH without VAT. These funds will go to capital construction, purchase of fixed assets and intangible assets, as well as modernization and modification of fixed assets.

    As you can see, this year the Ukrenergo financial plan was approved in August, and not at the end of the year, as it was practiced recently. The logical and absolute fact should be its approval in December 2016, before the start of the planning period. “This problem is associated with a certain inconsistency in the regulatory framework, and it applies to all enterprises that operate in accordance with the regulated tariff. This year, there is a hope that we will be able to overcome the longstanding practice and change the approaches to the approval procedure of financial plans of strategic enterprises“, Vsevolod Kovalchuk, CEO of Ukrenergo, commented on the event.


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