Ukraine's Energoatom to cover previous PSO debts if possible - CEO
MOSCOW. Oct 17 (Interfax) - Energoatom, Ukraine's state-owned nuclear power company, will cover its debts of previous periods for implementing the public service obligations (PSOs) in support of the preferential electricity tariff for households, currently totaling around UAH 9 billion, if market conditions allow, CEO Pyotr Kotin said.
"We are fully funding the PSO this year. There is a PSO debt from previous years. It stood at UAH 24 billion at the time, it was UAH 16 billion at the beginning of 2024, now it is UAH 9 billion. We have repaid a substantial part of it. If there were free funds, we would cover the remainder. This depends on the market conditions and the cost of electricity," Kotin said in a statement to Ukrainian media at an international conference dedicated to nuclear opportunities for Ukraine's development, which was organized by the company on October 15.
Energoatom has already disbursed UAH 97 billion from its net profit under the PSO this year, he said.
"This is more than 2 billion euros. If we had kept this money, there would have been no talk at all about from where to fund a new plant [for fuel production] or new power units for nuclear power plants. But this money goes to the PSO, to support a low tariff for the population," Kotin said.
As reported on October 15 with reference to Energoatom First Vice President Alexander Ostapovets, the company expects net income of UAH 201.5 billion in 2024.
The taxes paid by Energoatom are expected to total UAH 28.8 billion this year, while compensation of tariffs for households is expected to reach UAH 97 billion, while it was UAH 128 billion in 2023, he said.
For his part, Alexei Brekht, acting board chairman of the Ukrainian power grid operator Ukrenergo, said that the company expects Energoatom to repay its debts to universal service providers this year (according to the Guaranteed Buyer state enterprise (GarPok)'s data as of the end of September, it is approximately UAH 10 billion), which, for their part, will redistribute the corresponding funds to pay off their debts to Ukrenergo and distribution system operators (DSOs).
