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February 25, 2013 14:40

Ukrhydroenergo ups net profits 3.3-fold in 2012

KYIV. Feb 25 (Interfax) - PAO Ukrhydroenergo made net profits of UAH 995.038 million as calculated to Ukrainian accounting standards (roughly $124.5 million) in 2012, which was 3.26-fold - or UAH 689.918 million - more than in 2011, a company statement posted on the national commission for securities and the stock market's information system says.

Net income increased 61.7% (by UAH 807.037 million) to UAH 2.116 billion, net profits 3.5-fold (by UAH 738.11 million) TO UAH 1.030 billion.

Ukrhydroenergo produced 1.1% more electric power last year than in 2011 - 10.414 billion kW/hours in all.

The NKRE several times reconsidered Ukrhydroenergo's tariffs last year, particularly at the start of the year when the rate for the company's electricity was increased 90.6%.

Ukrhydroenergo operates all the major hydropower plants in the Ukrainian parts of the Dnepr and Dniester. Its HPP have consolidated capacity of over 5,000 megawatts. Energy Company of Ukraine, which is owned by the government, wholly owns Ukrhydroenergo.

The official exchange rate for February 25: UAH 7.993/$1.

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