16.02.2009, 15:39
DTEK Announces Outstanding Operational Results for 2008
OREANDA-NEWS. February 16, 2009. DTEK, the fuel and energy leader in Ukraine, today announced that the company’s operational results for 2008 show the company maintaining its leadership in all areas of activity, from coal production and enrichment to electricity generation and distribution.
Coal production and enrichment
Reinforcing its position as the country’s largest coal producer, DTEK increased its share of Ukraine’s total coal production to 22.6%*. Coal output from DTEK enterprises rose by 11.4% year-on-year to a total 17,594.6 thousand tons. The extraction of thermal coal, principally used for power generation, increased by 10% to 14,539 thousand tons.
The acquisition of two coal enrichment plants at Dobropolskaya and Oktyabrskaya in October 2007 significantly increased the volume of run-of-mine (ROM) coal processing and the production of coal concentrate by a massive 80.0% and 80.7% respectively during 2008, in line with growing market demand.
DTEK also reported continued progress in the implementation of large-scale projects such as methane drainage and utilisation at its Komsomolets Donbassa mine and the installation of new equipment at Pavlogradugol.
Electricity generation
Vostokenergo, the energy generating division of DTEK, maintained its leadership of the Ukrainian thermal generation sector during 2008, producing 25.4% of the country’s thermal electricity**. Declining electricity consumption in Ukraine during the fourth quarter and the shutdown of two of the company’s units for a seven-month reconstruction saw the volume of electricity generation decline by 1,330 million kWh year-on-year to 16,789 million kWh in 2008. However, by year-end the installed capacity utilisation rate (ICUR) at Vostokenergo’s power plants reached 51.8%, the highest level in Ukrainian thermal generation.
Vostokenergo also implemented the first stage of its equipment modernisation programme during 2008, investing UAH305 million (approximately USD 40 million) upgrading power generating units at its Kurakhovskaya and Zuevskaya plants. The upgrade improved the units’ flexibility, boosted capacity by 11 and 15MW and slashed fuel consumption by 43,900 and 21,500 tons a year respectively.
Coal consumption at the Zuevskaya thermal power plant will be significantly reduced by 26,545 tons per year following a major overhaul of one of its cooling towers during 2008. The benefits of this major repair and work carried out two years ago on another cooling tower will see the cost of electricity production at Zuevskaya cut by UAH10 million (approximately USD 1.25 million) a year, reducing the cost of electricity supplied to the Ukraine energy market.
Electricity distribution
DTEK’s share of the wholesale electricity market in Ukraine rose by 1.1% during 2008 to 6.5%** of the total volume of marketable electricity supply. Reflecting lower electricity consumption by the Ukrainian steel-making and chemical industries during the fourth quarter, electricity transmission by DTEK’s energy supply companies, Service-Invest and PES-Energougol, decreased to 2.8 TWh, 1.0 TWh less than in the corresponding period of 2007. Total 2008 electricity transmission by DTEK increased to 13.5 TWh, exceeding the 2007 volume by 1.3 TWh.
Making the announcement, DTEK Chief Executive Officer Maxim Timchenko said: “I am delighted to report these very encouraging results. During 2008, we were able to maintain and improve upon our leadership position in all areas of activity, from coal production and enrichment to electricity generation and distribution. Realisation of our production strategy helped us build a solid foundation for the company to overcome the economic crisis with minimum losses.”
Mr Timchenko added: “We remain hopeful that the economic situation in Ukraine and the world will stabilise, but at the same time the company is very well prepared for all possible scenarios. During the coming year we will make every effort to maintain and improve our performance and profitability while further developing the potential of our people.”
Coal production and enrichment
Reinforcing its position as the country’s largest coal producer, DTEK increased its share of Ukraine’s total coal production to 22.6%*. Coal output from DTEK enterprises rose by 11.4% year-on-year to a total 17,594.6 thousand tons. The extraction of thermal coal, principally used for power generation, increased by 10% to 14,539 thousand tons.
The acquisition of two coal enrichment plants at Dobropolskaya and Oktyabrskaya in October 2007 significantly increased the volume of run-of-mine (ROM) coal processing and the production of coal concentrate by a massive 80.0% and 80.7% respectively during 2008, in line with growing market demand.
DTEK also reported continued progress in the implementation of large-scale projects such as methane drainage and utilisation at its Komsomolets Donbassa mine and the installation of new equipment at Pavlogradugol.
Electricity generation
Vostokenergo, the energy generating division of DTEK, maintained its leadership of the Ukrainian thermal generation sector during 2008, producing 25.4% of the country’s thermal electricity**. Declining electricity consumption in Ukraine during the fourth quarter and the shutdown of two of the company’s units for a seven-month reconstruction saw the volume of electricity generation decline by 1,330 million kWh year-on-year to 16,789 million kWh in 2008. However, by year-end the installed capacity utilisation rate (ICUR) at Vostokenergo’s power plants reached 51.8%, the highest level in Ukrainian thermal generation.
Vostokenergo also implemented the first stage of its equipment modernisation programme during 2008, investing UAH305 million (approximately USD 40 million) upgrading power generating units at its Kurakhovskaya and Zuevskaya plants. The upgrade improved the units’ flexibility, boosted capacity by 11 and 15MW and slashed fuel consumption by 43,900 and 21,500 tons a year respectively.
Coal consumption at the Zuevskaya thermal power plant will be significantly reduced by 26,545 tons per year following a major overhaul of one of its cooling towers during 2008. The benefits of this major repair and work carried out two years ago on another cooling tower will see the cost of electricity production at Zuevskaya cut by UAH10 million (approximately USD 1.25 million) a year, reducing the cost of electricity supplied to the Ukraine energy market.
Electricity distribution
DTEK’s share of the wholesale electricity market in Ukraine rose by 1.1% during 2008 to 6.5%** of the total volume of marketable electricity supply. Reflecting lower electricity consumption by the Ukrainian steel-making and chemical industries during the fourth quarter, electricity transmission by DTEK’s energy supply companies, Service-Invest and PES-Energougol, decreased to 2.8 TWh, 1.0 TWh less than in the corresponding period of 2007. Total 2008 electricity transmission by DTEK increased to 13.5 TWh, exceeding the 2007 volume by 1.3 TWh.
Making the announcement, DTEK Chief Executive Officer Maxim Timchenko said: “I am delighted to report these very encouraging results. During 2008, we were able to maintain and improve upon our leadership position in all areas of activity, from coal production and enrichment to electricity generation and distribution. Realisation of our production strategy helped us build a solid foundation for the company to overcome the economic crisis with minimum losses.”
Mr Timchenko added: “We remain hopeful that the economic situation in Ukraine and the world will stabilise, but at the same time the company is very well prepared for all possible scenarios. During the coming year we will make every effort to maintain and improve our performance and profitability while further developing the potential of our people.”
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