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Energy Minister reiterates plans to sell GenCos in 2010

Energy Minister reiterates plans to sell GenCos in 2010

10 September 2010

Yuriy Boyko, Ukraine’s Minister of Fuel and Energy, yesterday confirmed plans to start privatizing power generation companies in 2010, according to Interfax. Boyko said two generation companies would be sold this year, but declined to name them. Earlier, State Property Fund officials said either Dniproenergo (UX: DNEN UK) or Zakhidenergo (UX: ZAEN UK) would be privatized this year. Yegor Samusenko: We view this announcement as a sign that the government is united behind the plans to privatize the generation companies. We think the government will first sell its stakes in Dniproenergo and Zakhidenergo as both have a clear potential local bidder. Though privatization has been discussed since March, we think minister’s announcement can be positively perceived by the market as they are the first statements of the government’s position about the GenCos since April.

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