Ukraine distrains two power lines belonging to Moldelectrica

Ukraine has levied a distress on two power lines belonging to the Moldovan utility Moldelectrica to compel payment of debts, Economy Minister Valeriu Lazar announced at the latest meeting of the National Energy Security Commission, Info-Prim Neo reports. The move came after Moldelectrica lost a lawsuit initiated by a Ukrainian company, Energoalians, which claimed historic debts of $26 million, plus $36 in default interest. The lines under distress are located on Ukrainian soil but are owned by Moldelectrica. Valeriu Lazar noted that such disputes, which relate to electricity imports received 10 and more years ago, imperil Moldova's energy security. “Last year the same Ukrainian company, in a lawsuit against the utility RED-Nord over a debt of $40 million, seriously reduced the latter's available funds. Ultimately, it's not about RED-Nord but rather about the consumers serviced by that utility, because those expenses will surely translate into higher rates”, said Lazar. The Moldovan electrical companies are represented in the lawsuits initiated by Ukrainian exporters by the law firm “Ţurcanu & partenerii”, which was selected by the Ministry of Justice.