OREANDA-NEWS. April 15, 2010. According to a recent Fuel and Energy Ministry report, electricity generation increased by 6.73% to 16.643bn kWh, and consumption by 3.12% m/m to 16.427bn kWh in March 2010. In general, generation increased 7.6% and consumption by 7.9% y/y. Moreover, power consumption by industrial consumers increased by 16.3% to 6.2bn kWh, and that by households grew by 10% to 0.319bn kWh. In quarterly terms, the electric power output increased by 10.1% to 51.442bn kWh, and consumption grew by 9.6% to 50.278bn kWh y/y.

Millennium Capital: electricity consumption is one of the key economic indicators. Therefore, we consider this growth to be positive news, and not only for GenCos (<DOEN UK U/R>, <DNEN UK U/R>, <CEEN UK BUY>, <ZAEN UK HOLD>), but for the Ukraine economy on the whole. Despite the fact that neither generation, nor consumption figures have reached the 2008 level yet, we estimate it is a positive factor.