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You're reading: Kyivenergo pays Hr 742 million debt to Naftogaz for gas

Public joint-stock company Kyivenergo, which exploits Kyiv's energy complex, has paid off a Hr 742,128,522 debt for natural gas consumed for the production of heat for households, the press service of the energy company reported on Wednesday, Aug. 1.

The press service said that the debt was paid when Kyivenergo
obtained funds on July 31, 2012 from Kyiv city administration to
compensate for the difference in heat production cost and existing heat

Thus, the company’s debt for gas supplied for the production of heat
fell to Hr 1.8 billion. The debt to Kyivenergo for compensation of the
difference in the tariffs as of August 1, 2012 narrowed to Hr 2.7

“We hope that thanks to the payment of at least a part of the debt
for gas, the situation with the restriction of gas supply, as seen
recently with pump storage power plant 6, will not be repeated in the
near future. However, the rest of the uncompensated difference in the
tariffs and the debt to gas suppliers does not give us long-term
guarantees of further stable gas supplies,” reads the report, citing
Kyivenergo CFO Tetiana Hriaznova.

As reported, Kyivenergo on July 23 failed to resume hot water
supplies after pipeline tests in some areas of Dniprovsky, Desniansky
and Obolonsky districts in Kyiv due to the restrictions on the gas
supply to pump storage power plant 6. Hot water supplies were resumed
only on July 30, 2012 when the company obtained additional limits of
natural gas for pump storage power plant 6.

Kyivenergo operates almost all power facilities in Kyiv with the
exception of the Darnytsa heat and electricity station. The company
increased electricity output in the first half of this year by 3.7%
year-on-year to 2.843 billion kWh.

Private energy holding DTEK owns a 71.82% stake in Kyivenergo.
National JSC Energy Company of Ukrainian holds 25% plus one share.

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