Ukrenergo will spend UAH 2.5B on strategic coal reserves.
Monday, August 1, 2022

Ukrenergo will spend UAH 2.5B on strategic coal reserves.

On behalf of the government, state company Ukrenergo will finance the creation of a strategic coal reserve for the 2022-2023 heating season, the company’s press service reported. This reserve will guarantee that Ukrainian thermal power plants will have enough fuel for the heating season. For this purpose, Ukrenergo will provide an interest-free loan of UAH 2.5B ($66M) to the state enterprise Ukrvugilya for the purchase of coal at the current market price and place it in storage. It is emphasized that priority will be given to domestically produced coal to support Ukrainian miners. This coal will be sold to thermal power plants in agreement with the Ministry of Energy.

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