Aliona Babak: If we do not restructure the debts of public utility companies, people will be the one to pay them off

Today in the first reading the Parliament supported a draft law on restructuring the debt of heat supply companies and water supply companies to Naftogaz of Ukraine and the electricity sector. According to people’s deputy of Samopomich Union faction, Aliona Babak, this is a civilized way out of the critical situation.

“Since 2010, after the establishment of the National Commission for State Regulation the tariffs have been artificially constrained, the difference in tariffs has not been compensated, so the debts have been accumulating, and today we need to restructure them, so that in the end they do not become the burden of the people,” says Aliona Babak.

Thus, the draft law stipulates that the state will pay for the debts incurred due to its fault, that is, because of the non-return of the difference in tariffs to heat and water supply companies. The rest of the money public utility companies owe to Naftogaz will be distributed into 5 years with the right to annul the fine which was assessed if a company pays the restructured debt timely.

“Today, neither the state, nor any of the local budgets have funds to repay this debt. Total debt of companies to Naftogaz amounts to 18 billion hryvnias, of which 4.6 billion hryvnias of fine. In addition, more than 1 billion hryvnias is the debt to the electric power industry,” said Aliona Babak. This step will prevent accumulation of new debts and bankruptcy of companies.

Alona Babak
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Utilities