Energy News

President

Signed Decree №79 / 2020 dated 12.03.2020 on amendments to the Regulations on the National Investment Council concerning changes in the composition of the Council.

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NEURC

The Regulator at the meeting on 03/13/2020 approved the Report on the assessment of adequacy (sufficiency) of generating capacities to cover the projected demand for electricity and provision of the necessary reserve and the draft resolution of the NEURC “On Approval of the Transmission System Development Plan for 2020 – 2029” developed by the TSO Ukrenergo.

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Ukrenergo

Over 10 years Ukrenergo plans to invest 69 billion UAH into the development of the transmission system.

By Ukrenergo’s estimation, the implementation of such large-scale plans will require 69 billion UAH. In accordance with the Company’s investment policy, which allows attracting IFI, long-term loans with low-interest rates (to 3 percent) and significant reduction of the burden on the tariff, the major part of such investments (57 billion UAH) are the loans from international financial institutions. 9 billion UAH are Ukrenergo’s tariff funds and another 3 billion UAH is the proceeds from the Company’s other activities.

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NBU

The Board of the National Bank of Ukraine has decided to cut the key policy rate to 10% per annum effective 13 March 2020. The NBU continues its monetary policy easing, as predicted, in order to bring inflation back to its target range of 5% +/- 1 pp and to support the economy of Ukraine amid a cooling global economy.

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National Security and Defense Council

Chaired by the President of Ukraine, the National Security and Defense Council of Ukraine, at its March 13 meeting adopted a decision “On urgent national security measures in the context of the outbreak of acute COVID-19”, among them:

– Ukraine has closed its borders for foreigners;

– Government Anti-Crisis Staff will operate 24/7;

– a simplified system of procurement of goods, works and services necessary to prevent and combat coronavirus is being introduced;

– within a week it is planned to fully provide the required number of rapid test systems for the diagnosis of illness;

– introduction of a ban on inspections of business and others.

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