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Tag: Prepares

Operating Energy Systems in a War-Torn Country: DTEK Prepares for Winter

August 19, 2022
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| Industry News

While much of the world lives life as usual, DTEK—the largest private investor in Ukraine’s energy sector—is focused on providing reliable service amidst war and uncertainty.

“Today, the major topic for us is to provide stability in durations of electricity sector in Ukraine and also do everything possible to prepare for winter season,” DTEK CEO Maxim Timchenko said during a press briefing on Aug. 18.

DTEK’s companies are involved in coal and natural gas extraction; electricity generation from wind, solar, and thermal power plants; energy resources trading in national and international markets; distributing and supplying electricity to consumers; providing energy efficiency services to customers; and developing high-speed charging station networks. It employs about 60,000 people, and has been recognized as one of Ukraine’s best employers by EY (the international auditing company) and Ukrainian business publications.

“Unfortunately, we pay a very high price to maintain electricity supply in the areas under control,” said Timchenko, referring to the 67 DTEK employees who have been killed as a result of the war while performing work for the company.…

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PG&E Files for Bankruptcy, Prepares to Reorganize

January 30, 2019
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| Industry News

California utility Pacific Gas and Electric (PG&E) filed for Chapter 11 bankruptcy on Jan. 29, as the company faces as much as $ 30 billion in potential liabilities for its role in a series of wildfires in the state. The filing was expected after the company notified its workers two weeks ago it was preparing a reorganization plan.

PG&E is working on a multibillion-dollar debtor-in-possession financing deal with several banks to provide the company funding to continue operations during its reorganization. The California Public Utilities Commission approved the company’s plans to tap up to $ 6 billion in financing to help it operate while under bankruptcy protection, and the company in a statement Tuesday said it will ask the bankruptcy court to approve $ 5.5 billion in financing.

John Simon, PGE’s interim CEO, said in a statement, “We are fully committed to enhancing our wildfire safety efforts, as well as helping restoration and rebuilding efforts across the communities impacted by the devastating Northern California wildfires.…

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