OREANDA-NEWS. Without giving any explanation, the State Reserve Committee of Ukraine has canceled an auction sale of debts of Centrenergo and Kharkivoblenergo . The auction was scheduled for September 27, 2007. The two utilities have overdue debts in kind (for fuel) contracted several years ago.

In the opinion of experts of Millennium Capital, a research agency, State Reserve officials seem to have realized that the legality of this second attempt is as problematical as was the first attempt to sell Kharkivoblenergo's debt, so this turn looks benign for both oblenergos.