UE power stations generate electric power as well as central heating for residential areas and heating for its own needs. UE was incorporated in March 1995. The Board recognises the need to reduce staff numbers and there are 1000 planned redundancies. The five year development plan 1996-2000 projects a reduction in staff numbers to 10,000 by the year 2000. The Directors and management are all successful business people and are determined to improve the performance of UE and to develop it as a professionally managed and increasingly profitable company.
Electric power is supplied to the wholesale market of Ukraine.
Major competitors are other Ukrainian regional power utilities and neighboring Russian power utilities. The first stage has already started. All the shares will be sold unencumbered with existing liabilities. Responsibility for these will be taken over by Government. Stock will be included in the sale at cost on the date of purchase.