OREANDA-NEWS. July 29, 2010. During Jan-Jun 2010, Ukraine has increased electricity exports by 49.2% y-o-y to 2.1bn kilowatt-hours (KWh), the Ministry of Fuel and Energy reported July 29, 2010. The growth is  accounted for by the resumption of supplies to Belarus (74.2% of total Ukrainian electricity exports). The export to  Europe, in general, has fallen by 74.3% to Slovakia (distributed 251.1mn KWh), by 38.5% to Hungary (226.5mn KWh), but rose by 145.5% to Moldova (61.6mn KWh).

Millennium Capital considers this news to be positive for the Ukrainian utilities sector in general, but negative for Zakhidenergo (ZAEN). The ZAEN is the only company in Ukraine, which can export electricity to Europe due to technical reasons. Ukrainian electricity price was uncompetitive compared to European average, and it is a main reason, the export was suspended.