The National Power Company «Ukrenergo» is currently facing a significant debt on the balancing market (BM), with the company’s debt exceeding 16 billion UAH and the debts of market participants reaching over 34 billion UAH. This was announced by the acting chairman of the board, Alexey Brecht, as reported by «Enerhoreforma».
The BM is an essential component of the electricity market in Ukraine, responsible for maintaining the balance between electricity production and consumption. It is a crucial mechanism for ensuring the stability and reliability of the country’s power system. However, the accumulated debt on the BM poses a significant challenge for the functioning of the market and the entire energy sector.
The debt of Ukrenergo and other market participants is primarily due to the delayed payments for electricity transmission services. This situation has been exacerbated by the ongoing pandemic, which has had a severe impact on the financial stability of many companies. As a result, the debt has been steadily increasing, causing concerns for the future of the BM and the energy sector as a whole.
Despite these challenges, Ukrenergo remains committed to fulfilling its obligations and ensuring the smooth operation of the BM. The company has taken several measures to address the debt issue, such as implementing stricter payment deadlines and actively engaging with market participants to find mutually beneficial solutions.
In addition, Ukrenergo has been actively working with the government and regulatory bodies to find a sustainable solution to the debt problem. The company has proposed a debt restructuring plan that would provide a more manageable payment schedule for market participants while ensuring the company’s financial stability. This plan has been positively received by the government, and discussions are currently underway to implement it.
It is essential to note that the debt on the BM is not a unique problem for Ukraine. Many countries around the world have faced similar challenges in their energy sectors, especially during these unprecedented times. However, it is crucial to address this issue promptly to ensure the stability and development of the energy market in Ukraine.
Despite the difficulties, Ukrenergo remains optimistic about the future of the BM and the energy sector in general. The company is confident that with the support of the government and the cooperation of market participants, the debt issue can be effectively resolved, and the BM can continue to play its crucial role in the country’s energy system.
In conclusion, the debt on the BM is a significant challenge for Ukrenergo and the energy sector in Ukraine. However, the company is taking proactive steps to address this issue and ensure the stability and reliability of the BM. With the support of the government and the cooperation of market participants, Ukrenergo is confident that the debt issue can be successfully resolved, and the BM can continue to play its crucial role in the country’s energy market.