27.01.2010, 19:10
EURACOAL Accepts DTEK as Its Newest Corporate Member
OREANDA-NEWS. January 27, 2010. DTEK, Ukraine’s leading fuel and energy company, is pleased to announce that EURACOAL, the European Association for Coal and Lignite, has accepted DTEK as its newest corporate member.
In 2009 DTEK’s annual coal output was 17.6 million tons from its eleven mines and five coal enrichment plants, which makes it Ukraine’s largest coal producer, generating 24.4% of Ukraine’s coal output. DTEK’s recoverable reserves of coal stand at approximately 837 million tons as of 31 of December 2008.
Dr. Thorsten Diercks, Secretary-General of EURACOAL, welcomed DTEK’s membership. “We welcome DTEK as our first corporate member from Ukraine. We understand it has invested heavily to improve the efficiency, environmental and safety performance of the formerly state-owned assets it has acquired and we look forward to the new perspective it will bring to our association,” he said.
The European Association for Coal and Lignite - EURACOAL - is the umbrella organisation of the European coal industry. In the interests of its Members, EURACOAL’s objective is to highlight the important role of coal for security of energy supply within the enlarged EU and to contribute to an appropriate and reliable framework for coal extraction and utilisation in Europe.
Founded in 2005, DTEK was established to consolidate the energy assets of the Ukrainian investment group System Capital Management (SCM) and it is the first private vertically-integrated power company in Ukraine. Coal output from DTEK operations even during economic downturn increased in 2009 for 0.2% year-on-year and due to the introduction of modern technologies. The average monthly labour productivity per person has risen from 52.9 tons of coal in 2006 to 63,6 tons of coal in 2009 for Pavlogradugol, and from 65,3 tons of coal in 2006 to 83,0 tons of coal in 2009 for Komsomolets Donbassa Mine. Most of its coal is consumed by DTEK’s thermal power plants.
DTEK CEO Maxim Timchenko noted “We are very pleased that EURACOAL has accepted DTEK as a member. We have made great efforts to establish management systems and practices that are up to European standards - in all spheres of our activities, from corporate governance to safety issues. We look forward to contributing our views to the European industry and to benefiting from the information we will obtain and the relationships we will develop”.
Reference
DTEK is the first private vertically-integrated power company in Ukraine. It is part of the financial and industrial group System Capital Management (SCM). The enterprises of DTEK build up an efficient operational chain of coal production and enrichment, electricity generation and distribution.
The coal business of DTEK includes Pavlogradugol (consisting of ten coal mines), Komsomolets Donbassa Mine and five enrichment plants. According to 2009 performance results, the Company’s share in the Ukrainian coal mining industry was 24.4%.
The generation business of DTEK is represented by Vostokenergo and the associated Dneproenergo Company, in which DTEK owns 47.46%. According to 2009 performance results, the share of Vostokenergo and Dneproenergo in thermal generation of Ukraine was 25.2% and 20.5% respectively.
Service-Invest and Energougol ENE represent the electricity distribution business of DTEK. Their share of electricity purchase in SE Energorynok in 2009 made 7.7%.
In 2009 DTEK’s annual coal output was 17.6 million tons from its eleven mines and five coal enrichment plants, which makes it Ukraine’s largest coal producer, generating 24.4% of Ukraine’s coal output. DTEK’s recoverable reserves of coal stand at approximately 837 million tons as of 31 of December 2008.
Dr. Thorsten Diercks, Secretary-General of EURACOAL, welcomed DTEK’s membership. “We welcome DTEK as our first corporate member from Ukraine. We understand it has invested heavily to improve the efficiency, environmental and safety performance of the formerly state-owned assets it has acquired and we look forward to the new perspective it will bring to our association,” he said.
The European Association for Coal and Lignite - EURACOAL - is the umbrella organisation of the European coal industry. In the interests of its Members, EURACOAL’s objective is to highlight the important role of coal for security of energy supply within the enlarged EU and to contribute to an appropriate and reliable framework for coal extraction and utilisation in Europe.
Founded in 2005, DTEK was established to consolidate the energy assets of the Ukrainian investment group System Capital Management (SCM) and it is the first private vertically-integrated power company in Ukraine. Coal output from DTEK operations even during economic downturn increased in 2009 for 0.2% year-on-year and due to the introduction of modern technologies. The average monthly labour productivity per person has risen from 52.9 tons of coal in 2006 to 63,6 tons of coal in 2009 for Pavlogradugol, and from 65,3 tons of coal in 2006 to 83,0 tons of coal in 2009 for Komsomolets Donbassa Mine. Most of its coal is consumed by DTEK’s thermal power plants.
DTEK CEO Maxim Timchenko noted “We are very pleased that EURACOAL has accepted DTEK as a member. We have made great efforts to establish management systems and practices that are up to European standards - in all spheres of our activities, from corporate governance to safety issues. We look forward to contributing our views to the European industry and to benefiting from the information we will obtain and the relationships we will develop”.
Reference
DTEK is the first private vertically-integrated power company in Ukraine. It is part of the financial and industrial group System Capital Management (SCM). The enterprises of DTEK build up an efficient operational chain of coal production and enrichment, electricity generation and distribution.
The coal business of DTEK includes Pavlogradugol (consisting of ten coal mines), Komsomolets Donbassa Mine and five enrichment plants. According to 2009 performance results, the Company’s share in the Ukrainian coal mining industry was 24.4%.
The generation business of DTEK is represented by Vostokenergo and the associated Dneproenergo Company, in which DTEK owns 47.46%. According to 2009 performance results, the share of Vostokenergo and Dneproenergo in thermal generation of Ukraine was 25.2% and 20.5% respectively.
Service-Invest and Energougol ENE represent the electricity distribution business of DTEK. Their share of electricity purchase in SE Energorynok in 2009 made 7.7%.
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