Ukraine's Energoatom increases revenues from sales 30% in 2023, forecasts one-third revenue growth in 2024

MOSCOW. Dec 29 (Interfax) - Ukraine's national atomic power company Energoatom increased revenues in 2023 from the sale of electricity by 30%, or by UAH 44 billion compared to last year, to UAH 190.7 billion, Ukrainian media reported citing the company's post on Telegram.

"Of these funds, more than UAH 124.4 billion were paid out as part of the implementation of the PSO (Public Service Obligation), or in other words, in support of low tariffs for the public," the company said.

The company said its revenues from 2020 (UAH 48.1 billion) to 2023 increased fourfold. Over the same period, increases in the cost of electricity production totaled only 26.6%.

In 2024, Energoatom plans to increase revenues by one third over the current year to UAH 253.3 billion. Next year Energoatom expects an increase of 32.8%.

Despite the difficult situation, the company has "managed to implement a set of measures to increase the economic efficiency of Energoatom's activities, and this is what allows the state to maintain low electricity tariffs for the population," CEO Petr Kotin said.

National Nuclear Energy Generating Company Energoatom state enterprise is the operator of nuclear power plants throughout Ukraine.

The official exchange rate as of December 29 is 37.98 UAH/$1.