From Financial Crisis to Growth: JSC «CHERKASYOBLENERGO» Enhances Process Efficiency

Despite emergency and rolling blackouts, a full-scale invasion, and damage to the power grid, the team at JSC «CHERKASYOBLENERGO» is overcoming the financial crisis and is ready to ramp up production and technological processes.

Vadym Yanenko, Acting CEO of JSC «CHERKASYOBLENERGO» spoke about these achievements during the company’s 2024-2025 operating period.

According to him, thanks to teamwork and the efforts of every employee, the company is currently paying taxes, and fees necessary for the functioning of the country’s economy and military, pays employees’ salaries on time – which increased by 40% in 2025 – and settles accounts with «NEC «Ukrenergo» and the budget not only for current payments but also for debts accumulated over previous years.

In 2024–2025, JSC «Cherkasyoblenergo» paid PJSC «NPC «Ukrenergo» UAH 1,296.5 million (including VAT) under contracts, which is UAH 818.4 million (including VAT), or 171.2%, more than during the 2022–2023 period.

In 2024–2025, the Company paid VAT and income tax totaling 1,362.7 million UAH (including 578.7 million UAH in arrears from previous periods), which is 947.2 million UAH, or 228%, more than during the 2022–2023 period.

JSC «CHERKASYOBLENERGO’s» debt to SE «Energorinok» for electricity purchased prior to June 1, 2019, and accrued penalties amounted to 463.0 million UAH as of the end of 2023 and was fully repaid by January 1, 2025.

As a result of the repayment of the debt to the budget, which took place over a period of ten years, the State Tax Service of Ukraine lifted the tax lien on the property of JSC «CHERKASYOBLENERGO».

In addition to revenue from its licensed activities, JSC «CHERKASYOBLENERGO» generates revenue from performing additional work and services thanks to the launch of a new Customer Service Center in the city of Cherkasy and its branches throughout Cherkasy Oblast. In 2024-2025, the Company received funds totaling 528.4 million UAH (including 366.2 million UAH for the service of connecting consumers’ electrical installations to power grids), which is 394.5 million UAH, or 294.6%, more compared to 2023-2024.

In 2024–2025, JSC «CHERKASYOBLENERGO» achieved a significant improvement in operational efficiency indicators through a systematic reduction in technical electricity losses (TEL). The reduction in TLE levels in 2024-2025 compared to 2022-2023 enabled the Company to cut the volume of electricity purchased to cover technical losses by more than 195 million kWh, demonstrating a sustainable long-term effect from the implemented measures.

At the same time, it should be noted that in 2025, the reduction in TBE relative to the standard level amounted to over 20 million kWh, which is the highest figure in the last 10 years.

The consistent implementation of a comprehensive set of organizational and technical measures to optimize losses enabled the Company in 2024-2025 to fully offset the negative financial impact accumulated in previous periods and ensure a sustainable positive economic outcome from the reduction in technical energy losses.These results were achieved thanks to a systematic approach: strengthening oversight of compliance with the Energy Efficiency and Energy Conservation Program, implementing modern digital solutions, and modernizing the networks. The reduction in the TBE indicator in 2024-2025 confirmed the effectiveness of the chosen strategy and tangible, qualitative changes in the company’s management.

- JSC «CHERKASYOBLENERGO» continues to pursue a path of increased efficiency, technological development, and responsible use of energy resources, laying the foundation for the stable and reliable operation of the region’s power grids today and in the future. We are proud that, despite all the challenges, we were able to preserve the company, its resources, and its team. We persevered and achieved positive growth across all key indicators – operational, financial, and commercial. This was made possible by our responsiveness, precision, professionalism, and ability to move forward with confidence, making well-considered decisions and achieving results even under difficult conditions,” noted Vadym Yanenko, Acting CEO of JSC «CHERKASYOBLENERGO».