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LAW OF UKRAINE

of June 17, 2020 No. 719-IX

About the measures directed to debt repayment which was formed in the wholesale market of electrical energy

(as amended of the Law of Ukraine of 15.04.2021 No. 1396-IX)

This Law determines the legal, economic and organizational basis connected with debt repayment which was formed in the wholesale market of electrical energy of Ukraine.

The purpose of this Law is complete debt repayment which was formed in the wholesale market of electrical energy of Ukraine.

Article 1. Determination of terms

1. In this Law the stated below terms are used in such value:

1) algorithm of distribution of means - procedure for distribution by authorized bank of funds from current accounts with the special mode of use, additional current accounts with the special mode of use without payment orders which is set by the National commission performing state regulation in spheres of power and utilities (further - the Regulator), according to this Law;

2) additional current accounts with the special mode of use - the accounts opened in authorized bank and intended for ensuring carrying out settlement according to item 4 of part one of article 3 of this Law;

3) debt - the amount of means which arose till July 1, 2019 which is confirmed by participants and is subject to payment according to the signed agreements and judgments;

4) the wholesale supplier of electrical energy - the state company "Energorynok" created for ensuring functioning of the wholesale market of electrical energy of Ukraine;

5) confirmation of debt - process of establishment and refining of outstanding amounts by participants by results of which the statement of availability and the size of debt is drawn up;

6) current accounts with the special mode of use - the accounts opened in authorized bank by operators of system of distribution who are legal successors of power suppliers and performed economic activity on delivery of electrical energy in the fixed territory, regarding the rights and obligations arising from agreements with the wholesale supplier of electrical energy, judgments and the Agreements between members of the Wholesale market of electrical energy of Ukraine from November 15, 1996, electrosuppliers to whom accomplishment of functions of the supplier of universal services and the supplier of "the last hope" is assigned and intended only for accumulating of means and calculations for the electrical energy sold to consumers till July 1, 2019. The list of current accounts with the special mode of use affirms and will be promulgated by the Regulator;

7) current accounts with the special mode of use of the wholesale supplier - the accounts of the wholesale supplier of electrical energy opened in authorized bank and intended for calculations for electrical energy with participants (members) of the wholesale market of electrical energy of Ukraine on whom transactions cannot be suspended and on which collection according to the Law of Ukraine "About enforcement proceeding" cannot be turned;

8) the procedure of debt repayment - the complex of necessary actions directed to final settlement creditor and receivables in the wholesale market of electrical energy and also the termination of activities of the wholesale supplier of electrical energy;

9) authorized bank - the bank determined by the Cabinet of Ministers of Ukraine together with the National Bank of Ukraine in which authorized capital at least 75 percent of shares (shares) belong to the state and which services current accounts with the special mode of use and additional current accounts with the special mode of use of participants of the procedure of repayment according to this Law;

10) participants of the procedure of debt repayment (further - participants) - the participants (members) of the wholesale market of electrical energy of Ukraine, their creditors and debtors and other subjects of managing determined by this Law;

11) participants (members) of the wholesale market of electrical energy of Ukraine are subjects of managing which to effective date of the market of electrical energy were agreement party between members of the Wholesale market of electrical energy of Ukraine from November 15, 1996 and performed (perform) the economic activity connected with dispatching (operational and technology) management of the integrated power system of Ukraine, production of electrical energy, transfer, delivery, distribution, the wholesale supply of electrical energy and so forth.

2. Other terms are used in this Law in the values given in the laws of Ukraine "About the market of electrical energy", "About the National commission performing state regulation in spheres of power and utilities", "About features of state policy on ensuring the state sovereignty of Ukraine in temporarily occupied territories in the Donetsk and Luhansk regions" and other regulatory legal acts governing the relations connected with production, delivery and transfer of electrical energy.

Article 2. Actions for debt repayment in the wholesale market of electrical energy of Ukraine

1. Participants perform debt repayment in the way:

1) applications of the procedure of settlement with use of mechanisms, the stipulated in Article 3 presents of the Law;

2) repayment (write-off) of debt according to article 4 of this Law.

2. Operators of system of distribution, electrosuppliers to whom accomplishment of functions of the supplier of universal services and the supplier of "the last hope" is assigned perform debt repayment for the electric power, including from current accounts with the special mode of use on the current account with the special mode of use of the wholesale supplier of electrical energy, according to algorithm of distribution of means which affirms the Regulator.

The algorithm of distribution of funds from current accounts with the special mode of use of operators of system of distribution, electrosuppliers to whom accomplishment of functions of the supplier of universal services and the supplier of "the last hope" is assigned, provides:

1) in case of absence of debt for electrical energy before the wholesale supplier of electrical energy - transfer of all funds for the current account of operators of system of distribution, electrosuppliers to whom accomplishment of functions of the supplier of universal services and the supplier of "the last hope" is assigned;

2) in case of availability of debt for electrical energy to the wholesale supplier of electrical energy - transfer of all funds for the current account with the special mode of use of the wholesale supplier of electrical energy before complete repayment of such debt.

The algorithm of transfer of the means received by the wholesale supplier of electrical energy is established by the Regulator and provides distribution of these means in full between electric power producers and NEK Ukrenergo Ltd is pro rata to debt amounts, except electric power producers from alternative energy sources to which debt repayment is performed first of all.

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