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Kyivenergo Requests USD 72 mln from City to Compensate Heating Losses

Kyivenergo Requests USD 72 mln from City to Compensate Heating Losses

8 October 2008

According to a Kyivenergo (KIEN: BUY) press release, it has requested the Kyiv City Council compensate USD 71.9 mln in losses for delivering housing and utility services at regulated tariffs. The city compensated USD 24.2 mln in 1H07, and decided to compensate additional USD 8.6 mln in September. Total losses of Kyivenergo from heat supply in 2007, according to our estimates, will be USD 125 mln (see or report from September 28).  

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