How to recover debt from the Guaranteed Buyer under the feed-in tariff

Renewable energy producers have been facing systematic payment delays from the state-owned enterprise Guaranteed Buyer for several years. The issue of non-payment, which emerged even before 2020, has only intensified since the start of the full-scale war.

According to data published on the official Guaranteed Buyer website, as of January 18, 2024, only 55.3% of the debt for 2022 and 60.05% for 2023 had been paid, while the debt owed by NPC Ukrenergo to the enterprise exceeded 31.5 billion UAH (source).

The Fedotov & Partners team, drawing on years of experience in energy law, has prepared this article for renewable energy producers and investors. We have summarized the latest case law from the Supreme Court and appellate courts as of 2025 and shared practical tips on how to effectively recover debt from the Guaranteed Buyer.

Does the debt owed by NPC Ukrenergo exempt the Guaranteed Buyer from making payments?

One of the main arguments used by the Guaranteed Buyer in court is citing delayed transfers from NPC Ukrenergo. The logic is simple: if there are no incoming funds, there is no ability to fulfill obligations to producers.

However, the Supreme Court, in its ruling dated 01.09.2021 in case No. 910/13034/20 (https://reyestr.court.gov.ua/Review/99425774 ) rejected these arguments. The Court noted that the failure of NPC Ukrenergo to fulfill its duties cannot be grounds for exempting the Guaranteed Buyer from fulfilling contracts with producers. In other words, the existence of a debt chain does not absolve one of the obligation to fulfill a monetary commitment.

This legal position remains relevant in 2025, and courts continue to apply it in similar disputes.

Can the Guaranteed Buyer avoid final settlements under Procedure No. 641?

The key document regulating these relationships is the Procedure for Settlements in the Electricity Market, approved by NEURC Resolution No. 641 dated 26.04.2019. NEURC Resolution No. 641 dated 26.04.2019 approves the Procedure for purchasing electricity at the feed-in tariff, which defines the mechanism of interaction between the Guaranteed Buyer and renewable energy producers: the procedure for concluding contracts, submitting and approving purchase and sale acts, forming budgets, conducting advance and final settlements, as well as rules for adjusting volumes and payments.

During the period of martial law, the Guaranteed Buyer attempted to argue that Ministry of Energy orders No. 140 (28.03.2022) and No. 206 (15.06.2022) allowed for limiting payments by percentage. Lower courts supported these arguments for a time, but the Supreme Court put an end to it:

• The Supreme Court ruling of 21.03.2024 in case No. 910/6185/23 explicitly determined that these orders do not alter the obligation to conduct full settlement. (https://reyestr.court.gov.ua/Review/117847938) 
  In the ruling of 11.04.2024 in case No. 910/9100/22 (https://reyestr.court.gov.ua/Review/118393334) and in the decision of the Joint Chamber of the Commercial Cassation Court of the Supreme Court in case No. 910/4439/23 (https://reyestr.court.gov.ua/Review/120065336) the court reiterated this position, emphasizing that partial payments are merely a temporary tool, but final settlement remains mandatory.

Thus, as of 2025, judicial practice is unequivocal: Ministry of Energy orders do not waive the obligation of full payment.

Does martial law exempt the Guaranteed Buyer from making payments under the feed-in tariff?

Since the beginning of the war, the Guaranteed Buyer has regularly cited the letter from the Ukrainian Chamber of Commerce and Industry dated 28.02.2022 No. 2024/02.0-7.1, which generally confirmed that the Russian military aggression constitutes force majeure. However, this reference does not withstand judicial scrutiny.

The Supreme Court in its ruling dated 07.06.2023 in case No. 906/540/22 (https://reyestr.court.gov.ua/Review/111972413) emphasized that this letter is informational in nature and does not replace a certificate. And in case No. 912/750/22 (ruling dated 07.06.2023) (https://reyestr.court.gov.ua/Review/111457121) the court noted that only a Chamber of Commerce and Industry certificate, issued upon the request of a specific company, in conjunction with other evidence, can confirm the causal link between the war and the inability to fulfill a contract.

Therefore, a general letter is not grounds for exemption from monetary obligations. This means that producers can successfully counter such objections in court.

Is it possible to recover 3% per annum and inflationary losses from the Guaranteed Buyer?

After the start of the war, the NEURC adopted Resolution No. 332 dated 25.02.2022, (https://www.nerc.gov.ua/decisions/rishennya-nkrekp-za-25-lyutogo-2022-roku ) which suspended the accrual and collection of penalties for the period of martial law and 30 days after its conclusion. The document entered into force on 26.04.2022.

Supreme Court practice has distinguished between two periods:

• before 26.04.2022 — fines and penalties may be collected;
• after this date — a moratorium applies.

The Supreme Court confirmed this position in a number of cases in 2024 (in particular, No. 908/818/22, No. 908/815/22, No. 908/816/22, No. 908/817/22, No. 910/4264/22). Courts proceed from the premise that the effect of NEURC Resolution No. 332 dated 25.02.2022 applies exclusively to the period of martial law and 30 days after its termination, but does not cover defaults that occurred earlier. Consequently, producers have the right to collect penalties for "pre-war" violations, but cannot demand their accrual for the later period.

Step-by-step guide to recovering feed-in tariff debt

The first step is to conduct a debt inventory. You must gather all purchase and sale agreements and bank statements. This will allow you to accurately determine when the obligation to make the final payment arose.

The second stage involves formulating your claims: the principal debt amount should be increased by 3% per annum and inflation losses, and, if applicable, penalties and fines if the delay occurred before April 26, 2022.

The third step: pre-trial claim procedures. The producer must send a written demand to the Guaranteed Buyer specifying the grounds and exact amounts. In most cases, this stage does not yield results, but it is essential for demonstrating that pre-trial settlement efforts were made.

The fourth step: filing a lawsuit with the commercial court. The claim should emphasize the direct provisions of Procedure No. 641 and established Supreme Court practice.

The final stage is enforcing the judgment: initiating enforcement proceedings and freezing the debtor's accounts.

Judicial practice and key benchmarks in feed-in tariff disputes

In recent years, the Supreme Court and appellate courts have developed consistent approaches to resolving disputes between renewable energy producers and the Guaranteed Buyer. This concerns not only debt issues but also the application of Ministry of Energy orders, the possibility of collecting penalties during martial law, and compensation in the form of 3% per annum and inflation losses.

An analysis of judicial practice from 2023–2025 confirms that the Supreme Court's position is consistent and unambiguous. The Guaranteed Buyer has no legal grounds to refuse final settlements.

Debt owed by NPC Ukrenergo, Ministry of Energy orders, and even martial law are not valid excuses for payment delays. Renewable energy producers have the right to recover the principal debt, 3% per annum, inflation losses, and fines and penalties for periods prior to April 2022.

Therefore, going to court today is not just an option, but the only effective way to restore violated rights.

How does Fedotov & Partners assist in disputes with the Guaranteed Buyer regarding debt?

The Fedotov & Partners team specializes in energy disputes and has a successful track record of protecting the interests of renewable energy producers. We offer:

• a full audit of contracts and settlements with the Guaranteed Buyer;
• professional calculation of 3% per annum and inflation losses;
• preparing claims and lawsuits;
• representation in courts of all instances;
• organizing the enforcement of judgments and monitoring debt collection.

By choosing us, you gain not only legal support but also a practical tool for protecting your business in the renewable energy sector.