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Energy Renewables

Policy Win: The Parliament Made the First Step to Resolve Crisis of Non-Payments between State Companies Operating on the Electricity Market

Policy Win: The Parliament Made the First Step to Resolve Crisis of Non-Payments between State Companies Operating on the Electricity Market

On  November 26, 2020, the President signed Law #1006-IX amending the Law on State Budget of Ukraine for 2020, which allows, inter alia, issuance of state guarantees covering the debt obligations of the state-owned transmission system operator – JSC Ukrenergo.

Experts of the AmCham member companies hope that loans from state banks and international financial institutions will help JSC Ukrenergo to repay the debt to the Guaranteed Buyer. Guaranteed Buyer, in turn, will be able to back up the settlements with Energoatom, Ukrhydroenergo, and RES producers by reducing existing debt and preventing its further accumulation.

The American Chamber of Commerce in Ukraine welcomes the adoption of provisions improving payment discipline in the electricity sector. AmCham supports the further improvement of regulation, improving the financial situation on the Ukrainian electricity market.