Energy Company of Ukraine

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Energy Company of Ukraine
Native name НАК «Енергетична компанія України»
Type State owned
Industry Electricity
Headquarters Kiev, Ukraine
Area served Ukraine
Products Electrical power
Net income UAH 265 million (2007)[1]
Total equity US$1.225 billion (UAH 9.8 billion)[citation needed]
Owner(s) State of Ukraine
Employees 110,000 (2011)[2]
Divisions more than 20 energy companies
Subsidiaries Dniproenergo

Energy Company of Ukraine (Ukrainian: НАК Енергетична компанія України) is a state-owned integrated power company in Ukraine and is governed by Ministry of Fuel and Energy.

Brief overview[edit]

Along with other state companies like Energoatom and Ukrenerho, Energy Company of Ukraine has produced electricity for Ukraine and abroad. Until 2010, the company had total installed power generation capacities of 29,6697 MW which corresponded to 56% of installed capacity of Ukrainian power stations.

Energy Company of Ukraine has operated thermal power stations through at least six regional subsidiaries such as Dniproenergo, Zakhidenergo, Centrenergo, Kievenergo, Skhidenergo; and hydro power stations through Ukrhydroenerho; energy supplying companies also exist in each oblast such as Dniprooblenerho, Vinnytsiaoblenerho and others. A smaller state company "Ukrinterenergo", established in January 1993, operates only one plant named Kaluska CHP.[3] Unlike most of Ukraine it is part of the IPS/UPS transmission grid, so Ukrinterenergo created a power generating island named "Burshtyn Island" that is synchronized with the ENTSO-E transmission grid. The island includes some companies of the Zakhidenergo.[further explanation needed]

Private take over[edit]

Since 2010, the Donets basin company DTEK has taken ownership of several government power companies, primarily thermal power stations, previously owned by the Energy Company of Ukraine.[citation needed]


In 2013 a new company that appeared from out of nowhere, the Energoinvest Holding B.V. registered in the Netherlands[4][5] managed to acquire Donbasenergo two months after its establishment.[6][7] Up until August 8, 2013 the Dutch offshore company Energoinvest Holding Joint-stock company was owned by Ukrainian coal mining company “Krasnolimansk” LLC whose owner is Igor Gumenuk. Gumenuk is a known business partner of former President Victor Yanukovich and previously Rinat Akhmetov. Energoinvest Holding BV has been owned since August 2013 at 100% by British Whitebridge Resources Limited, established 2003.[8] The latter has been well known as the largest importer of Ukrainian metal in the UK exporting it to European businesses. Whitebridge Resources Limited has been used by members of Ukrainian establishment and donors of Party of Regions not only for exports to offshore companies at lowered prices, but also to import raw materials and equipment to Ukraine by specially inflated prices". It has been described as a tax-free enterprise, that may be used for money laundering derived from Ukrainian exports and imports.[8]

Energoinvest also owns a mine Krasnolymanska.[9]


List of subsidiaries and percentage of ownership by Energy Company of Ukraine[10]

Hydro-power generation[edit]

Thermal power generation[edit]

DTEK company logo

Many companies are co-owned along with a privately owned DTEK company.

Other thermal power generation[edit]

  • Ukrhazovydobuvannia (Naftogaz Ukrainy)
    • Lokachi TES

Power distribution[edit]

Some power distributing companies have capabilities of power generation such as Zakarpattiaoblenerho.

  • Vinnytsiaoblenerho - 75.0%
  • Volynoblenerho - 75.0%
  • Zakarpattiaoblenerho - 75.0%
    • Tereblya-Rikska HES
    • Onokivska HES
    • Uzhhorod HES
  • Dniprooblenerho - 75.0%
  • Khmelnytskoblenerho - 70.1%
  • Krymenergo - 70.0%
  • Mykolaivoblenergo - 70.0%
  • Chernivtsioblenergo - 70.0%
  • Donetskoblenergo - 65.1%
  • Kharkivoblenergo - 65.0%
  • Zaporizhiaoblenergo - 60.3%
  • Luhanskoblenergo - 60.1%
  • Ternopiloblenergo - 51.0%
  • Cherkasyoblenergo - 46.0%

See also[edit]


External links[edit]