OREANDA-NEWS  On 18 November was announced, that on November 13, from 12:30 a.m. to 3 p.m. Kyivtranshaz in three stages reduced supplies of natural gas to Kyivenerho (KIEN) because the debts it owes to Haz Ukrainy (subsidiary of the national joint-stock company Naftohaz Ukrainy) but resumed gas supplies at 6 p.m.

Due to supply limitation gas pressure was reduced by 40% at the heating and power plant No. 5 and by 10% at the heating and power plant No. 6, so temperature in the heating grid of Kyiv fell by 4 centigrade.

Kyivenerho also did not follow the demands of the National Energy Company UkrEnerho for the dispatch schedule of electric load.

As of November 13, Kyivenerho owed UAH 96.5 million to Haz Ukrainy.

Kyivenerho accounts payable for short-term credits make UAH 260 million, it is also to repay UAH 105 for the World Bank credit granted for development of heating networks.

In keeping with the law, this year Kyiv city budget compensates UAH 790.8 million to Kyivenerho for the difference between economically feasible expenses and current tariffs.

By November 13, Kyivenerho actually received only UAH 385.8 million.

Thus, in 2008 the company is to receive another UAH 405 million of compensations.

Kyivenerho provides the entire cycle energy supplies to Kyiv with the only process of generation, transportation and sale of heating and electric energy.

Rated electric power of the electric stations is 1,200 MWt, heating capacity of the electric stations and boiler houses is 8,480 Gcal per year.

Kyivenerho ended 2007 with profits of UAH 6.149 million; its net revenues increased by 40.83% or UAH 1,340.535 million to UAH 4,624.091 million in 2007 compared, with 2006.

The state owns a 50% stake plus one share in the Kyivenerho open joint-stock company (this stake has been contributed to the statutory capital of the national joint-stock company called the Energy Company of Ukraine), Kyiv municipal council owns 12.73%, Fluminea Limited (Cyprus) owns 15.72%, and Kapiton Trading Limited(Cyprus) owns 24.98%.