You're reading: Ukraine, Russia agree to extend contracts on sale and purchase of unscheduled electricity flows until June

Kyiv, March 3 (Interfax-Ukraine) - Ukraine and Russia have agreed to extend contracts on the sale and purchase of unscheduled deviations of electricity flows and mutual emergency aid agreements between the energy systems of the countries until May 30, 2012, the press service of Ukrenergo has said.

The agreement was achieved at a meeting of OJSC INTER RAO UES, OJSC FGC UES, OJSC SO UPS (all based in Russia) and Ukrenergo on February 28-29, where the parties discussed both technical and commercial aspects of cooperation.

INTER RAO UES will submit to state enterprise Energomarket its proposals on amending the existing contracts on the sale and purchase of unscheduled deviations of electricity flows as the parties failed to agree on the terms of these agreements.

It is planned to finalize draft agreements by March 21, 2012.