The court ordered Ukrenergo to pay Energoatom over UAH 215 million: debts on the balancing market and the financial crisis of the power system
1 October 21:11
On August 15, the Kyiv Commercial Court ruled that NPC Ukrenergo should pay UAH 215 million to Energoatom. This is evidenced by the decision of the Kyiv Economic Court of August 15, "Komersant Ukrainian" reports.
This is a debt that arose in the balancing electricity market in 2023-2024.
How the debt arose
“Energoatom supplied electricity to balance the system, but Ukrenergo did not pay in full.
- Initially, the company demanded more than UAH 400 million.
- After partial payments and clarifications of the claim, the amount decreased to UAH 215 million.
- Ukrenergo paid more than UAH 30.9 million during the trial.
The court recognized the existence of an overdue debt of UAH 144.7 million and confirmed Energoatom’s right to compensation for inflationary losses and annual interest.
A reprieve for Ukrenergo
In the course of the case, the transmission system operator requested a deferral of payment, citing its difficult financial situation and critical role in the operation of the power system during the war.
The court partially granted the request – the execution of the decision was postponed for 6 months, until March 15, 2026.
Who runs Ukrenergo?
Volodymyr Zaichenko, who currently heads the company, has been working in the energy sector for over 20 years.
- Prior to joining Ukrenergo, he held senior positions at Kyivenergo and DTEK, where he was in charge of electricity transmission and distribution.
- Since 2020, he has been Deputy CEO of Ukrenergo, responsible for grid development and international integration.
- In 2024, he was appointed CEO of the company.
Zaichenko is known as a manager who promotes the integration of the Ukrainian power system into the European ENTSO-E and advocates for the reform of the balancing market.
Political reaction
Oleksiy Kucherenko, First Deputy Chairman of the Parliamentary Committee on Energy, Housing and Utilities, considers the situation to be indicative:
“This is not just a dispute between two companies. This is a consequence of chronic problems in the balancing market, where debts have been accumulating for years. Without a political solution, we will continue to have situations where strategic state-owned enterprises sue each other instead of working for the stability of the system.”
He emphasized that the government will have to look for a mechanism for centralized debt settlement, otherwise they will “paralyze the sector.”
Why this is important
The debt between key energy market players shows a systemic problem with settlements in the balancing market.
For Energoatom, the largest electricity producer in the country, these funds are critical for the stability of nuclear power plants.
For Ukrenergo, it is a challenge, as the company is responsible for maintaining the power system during martial law.
In August, the Economic Court of Donetsk Oblast ordered DTEK Donetsk Power Grids to pay over UAH 5 million to Ukrenergo for late payments.
The balancing market in Ukraine has been operating since 2019 and remains one of the most problematic segments of the energy sector: participants regularly complain about the accumulation of debts.
The martial law conditions, the destruction of infrastructure and the decline in electricity consumption have only deepened the non-payment crisis in the industry.
