The Cabinet of Ministers of Ukraine at a meeting on Wednesday, approved the financial plan of state enterprise “NEC “Ukrenergo” for 2018 with expected net profit of 3 billion 295,72 million, which is 3.7% more than expected compared to the current year (3 billion 178,378 million UAH).

At the same time finplan-2018 can be adjusted by the government in the first quarter due to the fact that the national Commission will approve the rates NEK on 28 December.

Read the news also on the website “Energoinform”

Net income “Ukrenergo” in 2018 it is planned in the amount of 7 billion 330,619 million UAH, which is 12% less than expected in 2017 (8 billion 325,642 million), gross profit to 4 billion 793,26 million, which is 18.7% less than expected in the current year (5 billion 897,838 million), EBITDA of 5 billion 207,288 million, which is 8.8% less than expected in 2017 (5 billion 712,375 million UAH) .

Capital investment “Ukrenergo” by 2018 in the amount of 4 billion 460,274 million, which is 21.9% more than expected in 2017 (3 billion 658,562 million UAH). Thus in 2019-2022. the growth of its medium size projects it is planned to increase significantly – up to 13 billion 447,03 million UAH 19 billion 303,68 million UAH 18 billion 314,172 million UAH 11 billion 151,466 million UAH, respectively.

Earlier, the head of NEK Vsevolod Kovalchuk said that the company intends to maximize refocus the funding of their investment projects attracted from international financial institutions (IFIs).

According to him, the right to change the investment policy of the company in the proposed direction is impossible, since MFIs do not Finance projects that have already started for the tariff of funds, and coordination of new projects with the possibility of access to loans takes from one to three years. “So in 2017 we have a transition, 2018 – also in transition. Fully this will work from 2019 as new projects on a significant amount has already been initiated with the banks,” he said.

The transmission of electricity over backbone networks NEK in 2018 planned in the amount of 115 billion kWh against the expected 111,5 billion kWh in 2017.

As earlier reported, Ukrenergo in 2016 has reduced the transmission of electricity over backbone networks by 7.4% (8 billion 872,527 million kWh) compared to 2015 year – on-year to 111 billion 221,684 million kWh.

“Ukrenergo” in 2016, increased its net profit by 3.7 times (2 billion 191,7 million UAH) in comparison with the year 2015 – up to 3 billion 12,096 million, net income by 32% (1 billion 740,13 million UAH), to 7 billion 173,623 million UAH, gross profit – 43.1% (1 billion 502,511 million UAH), to 4 billion 988,572 million.

“Ukrenergo” performs the operation of trunk and interstate transmission lines, and centralized dispatching operation of the ECO. NEK is a state enterprise, which is managed by the Ministry of energy and coal industry.