Page 63 - UKRRptNov20

the regulator – is high enough to try to continue the pressure.
9.1.10 ​Renewables sector news
Renewables – hydro, solar, wind and biomass – have nearly doubled their slice of Ukraine’s electricity production, ​the Energy Ministry reported on October 5. Through August, renewables accounted for 13.3% of electricity production, compared to 7.1% for the first eight months of last year. Due to the recession production of electricity from all sources dropped by 6.2% through August, compared to the same period last year.
With the government in breach of a law passed in July to pay overdue electricity bills to solar and wind producers, ​the American Chamber of Commerce in Ukraine is urging the Ministries of Finance and Energy to agree with the Rada on the size of a government bond to pay this debt. Despite the government’s commitments made last summer, the Guarantee Buyer paid only for only 28% of the electricity it received in September. With DTEK Renewables owed $100mn, the overall unpaid power bill could hit $1bn at the end of this year.
9.1.11 ​Metallurgy & mining sector news
Global crude steel production in September was up 3% y/y (0% MoM) ​as the sector continues to recover. The majority of crude steel-producing countries (excluding China) delivered positive MoM dynamics, with Russia, Germany and the US up 6% MoM, 7% MoM and 2% MoM, respectively. Crude steel production on a y/y basis remained mixed in September, with Germany (-10% y/y) and the US (-18% y/y) lagging as Turkey (+18% y/y) posted the largest gain, albeit against the low base of 2019. The Chinese steel industry continued to lead the way, with September crude steel production slightly easing 2% MoM but still well ahead of the entire market (+12% y/y). China remains the most dominant player within the global steel sector, accounting for 59% of global crude steel production in September, with India a distant second at 5%. Global crude steel production in September gained 3% y/y while 9M20 global crude steel production dropped 3% y/y. Despite China’s strong 9M20 performance (+5% y/y), the numbers for other primary steel-producing nations are well below 9M19, e.g. Germany, India and the US are all down 15% y/y, 20% y/y and 20% y/y, respectively.
63​ UKRAINE Country Report​ November 2020 ​ ​www.intellinews.com