DTEK signs agreement with Hungary's MVM Partner to supply power in 2012

The largest private vertically integrated energy holding of Ukraine – DTEK – has signed a framework contract with Hungary's MVM Partner Ltd. to supply electricity in 2012, the holding's press service has reported. The agreement foresees monthly adjustments of the volumes to be supplied, taking into account the needs of Hungary.

The supplies will be commenced in May 2012.

The contract cost of electricity is not disclosed.

As reported, Ukraine in January-April 2012 increased electricity exports to Hungary by 2.7 times year-over-year, to 1.068 billion kilowatt hours.

DTEK is the largest privately-owned vertically-integrated energy company in Ukraine, with efficient enterprises that mine and prepare coal as well as operate on the electrical power generation and supply markets. The company is the energy division of System Capital Management (SCM, Donetsk), one of Ukraine's leading financial and industrial groups, which belongs to businessman and Regions Party MP Rinat Akhmetov.