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  • Government approves a decision unlocking Ukrenergo’s payments to developers of the balancing market software

    On March 20, the Cabinet of Ministers of Ukraine amended Resolution No. 70 of 27.01.2016, which determines the procedure for the preparation and implementation of investment projects financed by the funds of international financial organizations.

    According to the decision, Ukrenergo becomes the responsible manager of the software development project for the functioning of the balancing services market and ancillary services market, which will allow the company to coordinate payments to software developers with the Ministry of Finance and to exclude from the chain of approval the Ministry of Energy and Coal industry, which had previously blocked payments of the relevant services.

    This was announced at a meeting of NKREKP on March 29 by Vsevolod Kovalchuk, CEO of Ukrenergo.

    “On March 20, the government approved amendments to Resolution No. 70 of January 27, 2016, which allows entrusting the functions of a responsible manager (a state body or a company designated responsible for implementation by the Ministry of Finance – ed.) for the project funded by an international financial institution, directly to the Beneficiary enterprise (entity that receives the loan – ed.) We expect the payments to resume soon under the new procedure, unblock, and we will be able to make disbursements for this loan under the new procedure,”-   said Vsevolod Kovalchuk, Ukrenergo CEO.

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