OREANDA-NEWS. The state-run National Energy Company of Ukraine, which holds controlling stakes in listed thermal GenCos finally OK'd thermal coal imports to alleviate shortages, Millennium Capital informs. After dismal performance this year by local coal mines (with the main culprits being state-run ones) the Energy Company bowed to the inevitable and announced that it plans to import 3.5mn of thermal coal in 2008 after refraining from doing so this year (only 120,000 tones imported so far).

The National Electricity Company has been delaying this decision as the issue is politically charged. However, the level of coal reserves at power stations is now only at 57.8% of the government forecast and the fast approaching winter made the decision unavoidable. This news, in the opinion of the experts, is positive for listed GenCos that have the worst coal supply situations and negative for Dniproenergo < DNEN UZ USD509.90 Sell >, which will lose some of its advantage.