OREANDA-NEWS. June 17, 2010. June 15, 2010, the Ukrenergo National Energy Company published the results of the auction for access to interstate electricity capacities of Ukraine to sell electricity during July 2010. The auction commission acknowledged the auction as a non-starter due to lack of application bids. There were 15 lots with different capacities with guaranteed and non-guaranteed distribution totaling 2,165 MW. The directions of this distribution included Slovakia, Hungary, Romania (Burshtyn Island, 270 MW, UAH 4.69mn), Poland (Dobrotvirska TPP, 215 MW, UAH 3.73mn), Moldova (United Energy System of Ukraine, 150 MW, UAH 1.26mn), and Russia (United Energy System of Ukraine, 1500 MW, UAH 26.05mn).

Millennium Capital sees this news as negative for the export tender winners, including Zakhidenergo <ZAEN UK U/R>. The major Ukrainian electricity customer is still Belarus, which imports 69.8% of total Ukrainian electricity exports in 5M2010. We also consider that exports to European countries and Russia will not recover until late summer.