Electricity output down 9.8%, consumption down 8.7% in 2009

Ukraine’s Ministry of Fuel and Energy announced on Friday that Ukrainian electricity production dropped 9.8% yoy to 172.9 bln kWh, according to Interfax. Thermal power plants reduced output 13.7% yoy to 71.7 bln kWh. The Ministry also reported that electricity consumption was down 8.7% yoy in 2009 to 169.0 bln kWh.  Yegor Samusenko: In 2010, we expect electricity production to grow 7%, mainly thanks to expected demand growth from metallurgy and households segments, each constitutes 25% of total demand in Ukraine. In 2009, GenCos posted the highest decline among electricity producers due to their balancing role in the electricity sector; similarly we expect them to post the highest growth in 2010, with a 12% rise in output.