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steeper drop than in 2009. Yesterday, in Golden Gate, Kyiv’s historic core, Air B’nB was listing apartments for as little as $18 a day.
InterContinental Kyiv, Fairmont Grand, Radisson Podil, Park Inn and CityHotel are closed for the duration of Kyiv’s coronavirus quarantine. Hilton Kyiv, Hyatt Regency Kyiv, Aloft, the two Ibis hotels, the Premier Palace and Radisson Blu on Yaroslaviv Val remain open, generally with reduced services. Kyiv Mayor Vitaliy Klitschko estimates the quarantine will cost the city budget $35mn.
Losses of Ukraine’s concert and theater industry amount to $20 million
during the first 10 days of quarantine measures, Dmitry Feliksov, co-owner of Concert.ua ticket service, said on the Freedom of Speech TV show. Predicting that losses will double if quarantine measures are extended through April, he said: “The concert and theater industry is not only about artists. These are tens of thousands of people involved -- from drivers, engineers, technical personnel to advertising agencies, ticket operators.”
9.1.9 ​Utilities sector news
Electricity consumption has decreased by 5% in Ukraine since the introduction of quarantine measures​, reports Ukrenergo National Power Company. In the week of March 24 saw the shutdown of the nation’s three city subway systems – all major power consumers.
Ukraine’s electricity consumption will fall by 8.2% in March y-o-y, UkrEnergo​ tells Montel, the Norway-based European energy data provider. Separately, Ukraine’s State Statistics Service reports these year-over-year reductions in February: coal - 4.7%; natural gas - 2.9%; and gasoline - 2%. Due to the mild winter, Ukraine starts this week to pump natural gas into its storage reservoirs. As of March 1, coal reserves were 4.23 million tons, 56% more than last year.
9.1.10 ​Renewables sector news
Foreign investors in wind and solar warn that Ukraine risks international arbitration and a souring of foreign investors on Ukraine​ if the government retroactively slashes ‘green tariffs,’ makes plant commissioning dependent on government hookup to the grid, and imposes half year long blackout periods on purchases of power from renewable plants. “Ukraine Unveils Plans for Retroactive FIT Cuts,” headlines an article in PV Magazine about cuts to feed-in tariffs. One Western solar investor tells the UBN the government’s proposed 25% cut in solar feed-in tariff coupled with the 200-day black out period could cut his revenues by 40%. “Ukraine is about to do something which will be perceived very negatively by the investment community, and is very dangerous for its efforts to attract FDI to boost its economy,” he emails from London. “The situation is very serious, and despite all the efforts of the industry, the government is not willing to find a compromise, and on the contrary is making its position harsher with each iteration.”
9.1.11 ​Metallurgy & mining sector news
In an early sign of a coronavirus recession, Metinvest, Ukraine’s largest steel producer, reports sharp drops in export prices of main export
56​ UKRAINE Country Report​ April 2018 ​ ​www.intellinews.com