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KIEN To Make Money From Heat.

KIEN To Make Money From Heat.

18 August 2008

The National Electricity Regulation Commission (NERC) set new heat production tariffs for Kievenergo (KIEN: HOLD), with average profitability of 1.8% included in the tariff. Alexander Paraschiy: According to KIEN’s management, the company had about USD 14 mln losses due to low heating tariffs in 2005. As we expected (refer to our KIEN report on April 7 and news on April 13), this year KIEN managed to fight for economically reasonable tariffs, which will significantly increase the company’s profitability.

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