Naftogaz CEO: Naftogaz has accumulated UAH 95 billion in bad debts from district heating companies (DHCs)

Naftogaz CEO Oleksiy Chernyshov has stated that Naftogaz has accumulated UAH 95 billion in bad debts from district heating companies (DHCs). "This constitutes total outstanding debt and includes UAH 36 billion difference in tariffs of UAH 36 billion and other components," commented Chernyshov during a TV broadcast with Suspilne. Sprotyv (Suspilne. Resistance).

Chernyshov further noted that the government has yet to establish a compensation mechanism for losses incurred due to unfeasible tariffs for Naftogaz, but said efforts are underway to resolve this issue.

The challenge of debts in the energy sector emerges as a recurring issue prior to each heating season," said the head of Naftogaz Group. "To date, the compensation for price differences between sales tariffs and market price remains unrealized, but we acknowledge the problem. This is why Naftogaz is not insisting on the immediate repayment of the difference in tariffs, especially for communities and cities located in front line or recently liberated regions."

Naftogaz Group paid more than UAH 70 billion in taxes during the first 9 months of 2023.

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