On January 6, 2021, the meeting of the NEURC considered the issue “On the decision of the NEURC on debt repayment on the electricity market”; the respective decision was not approved at the meeting and further consideration of the issue was postponed to the meeting of the NEURC scheduled on January 13, 2021.

To remind, the NEURC was intended to prohibit the transfer of funds, according to the signed loan agreements between “Ukrenergo” and three state-owned banks, for the purpose of repaying debts to RES electricity producers.

Today, a letter was sent to the Regulator on behalf of three leading associations of the renewable energy sector of Ukraine, European-Ukrainian Energy Agency (EUEA), Ukrainian Wind Energy Association (UWEA), Ukrainian Association of Renewable Energy (UARE), which unite international and national Ukrainian investors.

We propose to withdraw the issue “On the decision of the NEURC on debt repayment on the electricity market”, as we believe that approval of such draft resolution by the NEURC contradicts the norms of the applicable laws and exceeds the powers prescribed by the law, namely:

  1. Unjustified NEURC’s position regarding the exclusion of debts to RES producers as of August 1, 2020, from the amount of total debts that will be repaid by SE “Guaranteed Buyer” using loans raised by NPC Ukrenergo
  2.  Exceeding of authorities by the NEURC while specifying the directions of debt repayment for the SE “Guaranteed Buyer”.

Read the original letter: EUEA_UWEA_UARE_NEURC Letter 2021 01 12