NERC: Donetskoblenergo (DOON ? SELL) Must Pay 80% For Purchased Electricity

Ukraine’s National Energy Regulation Committee (NERC) has said Donetskobloenergo must pay for 85% of the electricity it purchases in April, or it will decrease the percentage of money transferred to DOON’s account. Concorde Capital: The requirement was introduced as DOON has extremely low payment discipline, usually only paying for 70-80% of electricity received. This has led to a USD 757 mn debt, as of February 1, 2005, or equal to 2.5-3 times annual revenue.