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In the first quarter of 2021, Energoatom exceeded the Forecast electricity balance of the United Power System of Ukraine by 11% – Petro Kotin

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05.04.2021

It is no exaggeration to say that the role, contribution and place of Energoatom in enhancing the state’s energy security have increased significantly over the past year, as Acting President of Energoatom Petro Kotin stated during a joint meeting at the Zaporizhzhya Nuclear Power Plant with Valeriy Tarasyuk, Chairman of the National Energy and Utilities Regulatory Commission of Ukraine, and Volodymyr Kudrytskyi, Chairman of the Management Board of NPC Ukrenergo.

"The bottom line is that we managed to break the negative trends of the past year, to enter the trajectory of stable development, to achieve positive production and financial results," the head of Energoatom emphasized and added that NNEGC had closed the first quarter of the current year successfully. The forecast balance of electricity production for the first three months of 2021 has been fulfilled by 111%.

According to Petro Kotin, at the most critical time of the year, namely during the February frosts, Energoatom proved once again it is the nuclear generation that is a stable, powerful and reliable source of electricity for Ukraine. "Thanks to nuclear energy workers, the country has not experienced numerous emergency shutdowns at thermal power plants, a shortage of coal in warehouses and the instability of the "green" generation," Acting President of the Company stressed. "At the same time, nuclear power plants maintain nuclear and radiation safety at the highest level, which fully complies with national standards and international recommendations."

For the first quarter of 2021, the Company received UAH 16 billion 430 million in revenues, which is 13% more than in the same period of the previous year. Moreover, as compared to the fourth quarter of 2020, cash flow increased by almost a third. For the first two months of this year, the state-owned enterprise implemented more than UAH 1 billion of capital investments, which is almost 20% more than last year.

Owing to the stable cash flow, the Company anticipates its incomes and expenditures more efficiently, pays out staff wages on time, pays taxes to the budget and makes welfare payments.

Petro Kotin is convinced that the current year will be much more successful for Ukrainian nuclear power workers than the previous one - primarily due to the successful large-scale projects implementation. Such as the construction of the first start-up complex of the Centralized Spent Fuel Storage Facility (CSFSF). «Presently, pre-commissioning of the equipment and accessories is underway there," the head of Energoatom said. - In this regard, we have officially informed the Russian side about the cessation of export of spent nuclear fuel for storage to Russia. This will save us up to $ 200 million a year.”

The last obstacle for the timely commissioning of the Storage Facility, namely the lack of a railway track at the Vilcha-Yaniv section, will be overcome in the short run, Petro Kotin assured. Upon its transferring to the fixed assets of Energoatom, active work began there, and since June 2021, the Storage Facility will receive spent nuclear fuel from three Ukrainian nuclear power plants.