Ukrenergo offers several options to distribute proceeds from electricity exports to Europe

MOSCOW. June 8 (Interfax) - The Ukrenergo national energy company of Ukraine is proposing several options for distributing proceeds to be earned by the company from the sale at auctions of interstate transmission capacity for exporting electricity to Europe, the Ukrainian media reported from a press conference of Ukrenergo CEO Volodymyr Kudrytskiy.

The potential reserve of Ukraine's generating capacity which may be freed up and used to export electricity stands at gigawatts, Kudrytskyi said. Meanwhile, current laws require Ukrenergo to spend these proceeds on the development of interconnectors.

"Given the scope of potential proceeds, we will not be able to put so much money to use in the short term. In such a situation, various mechanisms of contributing this money to the energy sector are possible. For instance, we have debt on the balancing market, and, using this money, we can repay this debt for a certain period of time in a manner proportionate to all market players," he said.

Energy companies can stabilize their operations by starting to invest in preparations for the winter period, fuel acquisitions and maintenance, he said.

As reported, the Ukrainian power grid and the ENTSO-E Continental European power system have been operating in a synchronized manner since March 16, 2022. In early June, Continental Europe transmission system operators have given a positive response to the Ukrenergo's request to resume electricity exports from Ukraine.

Ukraine is currently exporting up to 816 MW of electricity to Moldova and Poland by buying interstate transmission capacity.

Ukrenergo operates the main and interstate power transmission lines, as well as centralized dispatching of the country's unified energy system.