Electrification of Chernivtsi region began in 1896 with the start-up of the first general-use Chernivtsi diesel power plant, which produced DC electric current for the city centre.
The second diesel power plant installed in 1912 supplied the small factories and water pumping stations. In 1937 two diesel power plants were producing some 14.5 million kWh of electricity.
The power engineering development of Chernivtsi region started in the post-war period together with the development of industry, agriculture and housing sector. OJSC «Power Supply Company «Chernivtsioblenergo» was set up in 1998 on the basis of the Chernivtsi regional power grids. In essence, the company is the successor of the organisations it engulfed during the reorganization process. Such as regional rural electric grid company, the high-voltage grid company, regional electricity supply company.
The company is engaged in power distribution
and supply, as well as construction, reconstruction
and maintenance of power grids and transformer
substations 110/35/10/6/0.4 kV.
The company links together 12 local electric grids,
25 production services, workshops and departments
that provide maintenance and repair services for the
grids and power supply to some 338,000 industrial,
agricultural and private customers.
The company employs 1,717 staff.
The  company's   authorized   capital   makes UAH
14,195,170 with total of 56,780,680 shares.
In order to ensure provision of its core services, i.e.
supply and transmission of electricity to all categories
of region's consumers, PJSC «Chernivtsioblenergo» operates and provides maintenance of equipment, electricity transmission devices, operational premises, machines and mechanisms.
Assets of the company include:
- 17,130 km - overhead transmission lines, all voltages;
- 392.8 km - cable lines;
- 72 substations 35 - 110 kV;
- 3,505 - transformer substations 10 - 0.4 kV;
- 244 units - transportation means etc.
Dniester hydropower plant and «Chernivtsi-300» substation are the main sources of the region's power supply. The company's priority development fields are the following:
• construction, reconstruction and upgrading of electric power grids 0.4 - 110 kV;
• modernisation of electricity metering, switching to outdoor metering devices and installation of insulated feed lines;
• introduction of the automated system of commercial electricity metering (ASCEM);
• introduction of modern operational management and control of the company's power grids, upgrading the protection relays;
• implementation of the Automated Enterprise Management System.
Total demand for investments in all types of projects makes UAH 72.4 mln. in 2011 and UAH 75.0 mln. in
2012.