---
title: "Ukrenergo Balancing Market Debt Exceeds UAH 45 Billion: Growth Rate Reached UAH 1 Billion per Month"
description: "Debt owed by balancing market participants to NPC Ukrenergo has exceeded UAH 45 billion, growing by UAH 1 billion per month in winter. The government has modified heat utility revenue allocation and introduced special accounts to curb debt growth."
date: 2026-10-17T16:10:02.765Z
lang: en
url: https://xab.info/en/posts/ukrenergo-balancing-market-debt-45-billion
tags: [ukrenergo, balancing-market, energy-debt, ukraine-energy, power-grid, tke]
author: "Andrey Kosynko"
publisher: "XAB.info"
---

# Ukrenergo Balancing Market Debt Exceeds UAH 45 Billion: Growth Rate Reached UAH 1 Billion per Month

![High-voltage power transmission tower painted in Ukrainian flag colors against a blue sky with power lines](https://xab.info/media/2026/10/17/dolgi-balansiruyushchiy-rynok-ukrenergo-45-mlrd-grn/dolgi-balansiruyushchiy-rynok-ukrenergo-45-mlrd-grn-1.webp)

## Key Points

- Balancing market debt to Ukrenergo exceeds UAH 45 billion, with over 80% attributed to problem consumers
- Debt grew by UAH 1 billion per month in winter and UAH 400–600 million in summer
- The government redirected an additional 5% of heat utility revenues to Ukrenergo and introduced special accounts
- Debt stabilization will pave the way for grant and loan support from European partners

Debt owed by balancing market participants to NPC Ukrenergo has exceeded UAH 45 billion, according to company Supervisory Board member Yuriy Boyko in a commentary to RBC-Ukraine. He estimates that over 80% of this amount is concentrated among so-called problem consumers, the probability of recovery from whom is extremely low. Boyko emphasized that the problem has been accumulating for years and has become one of the key pressures on the financial stability of the country's energy system.

### Why Debts Cannot Be Collected

The primary driver of debt growth is consumers who do not pay for electricity but, for various reasons, cannot be disconnected from the grid. Energy Club Vice President Maksym Nemchynov previously pointed out that these consumers include water utilities and other critical infrastructure enterprises, as well as facilities whose disconnection is impossible due to technical or military circumstances. As a result, electricity is actually generated and consumed, but funds fail to reach Ukrenergo, which, in turn, cannot fully settle accounts with generators.

### Debt Accumulation Dynamics

According to Boyko, the growth rate of balancing market debt varied significantly by season: in winter months, debt increased by up to UAH 1 billion per month, while in the summer period it grew by UAH 400–600 million. For comparison, throughout 2025, total balancing market debt rose by 21% to a record UAH 42 billion. Simultaneously, Ukrenergo's own debt to market participants increased by 36% to UAH 22.9 billion. NPC Ukrenergo CEO Vitaliy Zaichenko previously estimated the current volume of balancing market participants' debt to the company at over UAH 46 billion, calling it one of the highest figures in the history of the market.

### Government Measures to Contain Growth

To slow down the accumulation of new defaults, the Ukrainian government changed the mechanism for distributing funds from heat utility companies: an additional 5% of their revenues are now channeled to Ukrenergo to repay balancing market debts. Furthermore, a special accounts mechanism is being introduced for certain protected consumers, ensuring more transparent payment tracking. Boyko expressed cautious optimism: he does not expect a complete halt to debt growth, but anticipates that the pace of accumulation will decrease "by an order of magnitude" — from a billion in winter months to significantly lower values.

### Prospects for European Support

Halting the rapid accumulation of new debts, according to Boyko, will be a necessary prerequisite for reaching agreements with European partners on grant and loan support to clear Ukrenergo's arrears to balancing market participants. Implementing such a mechanism would allow generating companies to receive funds for already produced electricity and direct them toward current operations and infrastructure restoration. Without stabilizing the situation on the balancing market, experts emphasize, attracting external financing remains unlikely.

## Fact-Check & Sources

- [До 1 млрд грн в месяц: Бойко назвал темпы роста долгов на балансирующем рынке](https://www.rbc.ua/ukr/news/1-mlrd-grn-misyats-boyko-nazvav-tempi-zrostannya-1792238996.html) - Primary source: Yu. Boyko's statement on UAH 45+ billion, growth rates of UAH 1 billion/month in winter and UAH 400–600 million in summer, government measures (5% heat utility funds, special accounts), prospects for European support.
- [До 1 млрд грн в месяц: Бойко назвал темпы роста задолженности на балансирующем рынке](https://www.obozrevatel.com/section-ekonomika-glavnaya/news-do-1-mlrd-hrn-na-misyats-boyko-nazvav-tempy-zrostannya-borhiv-na-balansuyuchomu-rynku-17-10-2026.html) - Confirms key figures: UAH 45+ billion, difficulty in recovering the majority of the amount, growth rates.

## FAQ

### What is the current debt volume on the balancing market owed to Ukrenergo?

According to NPC Ukrenergo Supervisory Board member Yuriy Boyko, the debt has exceeded UAH 45 billion. Company CEO Vitaliy Zaichenko previously estimated it at over UAH 46 billion.

### Why can't these debts be collected?

Over 80% of the debt belongs to problem consumers — critical infrastructure enterprises (such as water utilities) that cannot be disconnected due to technical, military, or legal reasons. The probability of collecting from them is extremely low.

### What measures has the government taken to address the issue?

The government altered the fund distribution mechanism for heat utilities, directing an additional 5% of their revenues to Ukrenergo. It is also implementing a special accounts mechanism for specific protected consumers.

### What prospects are being discussed for debt repayment?

Boyko indicated that halting the rapid growth of debts could pave the way for agreements with European partners on grant and loan support to clear Ukrenergo's debts to balancing market participants.