OREANDA-NEWS. January 27, 2010. According to the Company’s press-service, Dniproenergo decreased the volume of sold electricity in 2009 by 19.9% y/y to 11.8bn kilowatt-hour due to an across-the-board decrease in electric power consumption in Ukraine. The Company’s electricity generation in 2009 amounted to 12.9bn kilowatt-hour, which corresponds to 18% of installed capacities utilization. The Company points out that electricity tariffs rose by 11.4% in 2009, but the coal price rose by 22%, gas price was up 87%, and fuel oil up by 9%. These types of fuel account for 97.9%, 1.4% and 0.7%, respectively, in the Company’s fuel consumption structure. The cost of maintenance works amounted to UAH 253.94mn in 2009.

Millennium Capital: the decline of DNEN performance indicators has been anticipated, and the decline corresponds with the sector’s average numbers. Millennium Capital also expects worsening of the Company’s financials and the numbers voiced by the press-service of the Company support these expectations. However, Millennium Capital still thinks that the Company is one of the most attractive objects for investors among the GenCos.