You're reading: Yanukovych signs laws writing off heat supply companies’ debts

Ukrainian President Viktor Yanukovych has signed a law writing off debts between fuel and energy enterprises and those to the national budget worth over Hr 24 billion for natural gas and electricity, the president's press service reported on Thursday.

As reported, the Verkhovna Rada of Ukraine on May 12, 2011 wrote off the debts between fuel and energy enterprises and those to the national budget of over Hr 24 billion for natural gas and electricity (draft laws No. 8351 and No. 8352).

Draft law No. 8351 writes off the debts of fuel and energy companies, Naftogaz Ukrainy and its subsidiaries Ukrgazvydobuvannia, Ukrtransgaz, Chornomornaftogaz for natural gas as of January 1, 2010.

The document also writes off the debts of Gaz Ukrainy to Naftogaz Ukrainy, those of fuel and energy enterprises, including penalties and fines for 1997-2011.

Other points of the document write off the debts of regional energy companies to Energomarket, as well as Energomarket’s debts to energy generating companies and Ukrenergo for electricity as of January 1, 2010.

In addition, the parliament wrote off Ukrenergo’s obligations on funds that were to be allocated to develop the wind power sector in Ukraine.

Draft law No. 8352 writes off the tax debts of Naftogaz Ukrainy (except for VAT debts run up during the customs clearance of imported gas), Ukrtransgaz, Ukrgazvydobuvannia, Chornomornaftogaz and regional and city gas companies as of January 1, 2011.