REUTERS
The company's share in the segment of gas supplies to households was 100% over the period under review.
National Joint-Stock Company Naftogaz of Ukraine says the company in 2017 managed to raise the rate of households' payments for consumed gas from 69% to 92%.
The company's net profit in 2017 rose to UAH 39.3 billion (US$1.5 billion). The financial success was possible due to a 20% reduction in gas distribution costs amid unchanged prices and a 14% increase in gas transit shipments, according to the Naftogaz's financial statements for 2017, which are to be approved at a shareholders' meeting.
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Over the period under review, the company's share in the segment of gas supplies to households remained 100%, while that of gas supplies to heating companies declined slightly within the year, to 99%. Naftogaz's share on the commercial supply market shrank from 33% in 2016, to 30% in 2017.
In 2017, Naftogaz managed to increase the budget financing by 60% against 2016 due to additional subventions in the amount of UAH 19.1 billion ($728.2 million). The company's budget funding last year totaled UAH 51.1 billion ($1.9 billion).
A significant portion of the net profit posted by Naftogaz as a separate legal entity in 2017 (almost UAH 12.6 billion/$480.4 million) relates to Gas Sales and Gas Transit Arbitrations by the Arbitration Institute of the Stockholm Chamber of Commerce, despite the fact that Russia's gas monopoly Gazprom refuses to pay the sum and threatens to file an appeal.