Electricity Exports Grow 19.2% In 11M06

Ukraine raised exports to UCTE countries by 6% yoy to 4.55 TWh, and to CIS countries by 36% yoy to 4.75 TWh. The main importers of Ukrainian power were Hungary, Moldova and Belarus (combined these countries account for 83.6% of exports). The share of exports in internal electricity production increased 0.7 pp to 5.35%. Alexander Paraschiy: We re-iterate our 20% export growth forecast in 2006 (to 10.0 TWh). A slight increase of exports to UCTE countries and significant growth of exports to Russia is expected in 2007, however, it is not clear whether Belarus will continue importing electricity in 2007, making it difficult to predict exports for 2007.