DAVOS, Jan 28 - DTEK, the largest private energy holding in Ukraine, actively supports the speedy transition to an auction system while encouraging the development of renewable energy sources and compete under these new conditions, Maksym Tymchenko, the director general of the energy holding, has told Interfax-Ukraine in Davos.

"We are not only not scared [by the transition to the auction system], but we actively support it and promote the relevant law at the expert level. The transition to auctions is what should happen in Ukraine in the near future, and we are ready to compete, however, as in other businesses," he said on the sidelines of the Davos Ukrainian Breakfast, organized by the Victor Pinchuk Foundation.