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Uzbekenergo’s financial potential to be strengthened

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Uzbekenergo's financial potential to be strengthened

Particular attention at the meeting, devoted to in-depth analysis of the state of affairs in electric power industry, was paid to the fact that the share of networks with a usage period of more than 30 years is 62 percent, 57 percent of lines on distribution networks and 39,6 thousand transformer units need to be updated.

In accordance with the program, designed for 2017-2021, this year it is required to modernize 34 thousand kilometers of power lines and 7 thousand transformer units, in 2019 – 7 thousand kilometers of lines and 2 thousand transformers.

Uzbekistan Reconstruction and Development Fund, the Ministries of Finance and Economy, Uzbekenergo JSC were instructed to provide sources of stable financing defined in the program of measures.

Instructions were given on taking appropriate measures for strengthening financial capacity of Uzbekenergo JSC to fulfill its investment obligations. The issue of providing Uzbekenergo JSC the references in the form of a three-year extension of main debt payment to the Reconstruction and Development Fund in 2019-2021 was also considered.

The need for further improving the efficiency of debt collection for supplied electricity was noted. It was indicated that the Enforcement Bureau should further improve the effectiveness of measures taken on reducing debt for electricity.

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