Ukraine launches simultaneous selection of supervisory boards for eight state energy firms
Photo: Energoatom

The Cabinet of Ministers has launched a simultaneous selection process for supervisory boards of eight state-owned energy companies, Prime Minister Yuliia Svyrydenko said on Monday.

The companies involved include Energy Company of Ukraine, Energoatom, the Gas Transmission System Operator of Ukraine (GTSOU), Market Operator, Ukrainian Distribution Networks, Ukrhydroenergo, Ukrenergo, and Centrenergo.

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The government expects the new supervisory boards to be formed in January.

In addition, a competition to select four independent members of the supervisory board of NJSC Naftogaz of Ukraine was launched on Friday.

  • The decision to restart supervisory boards in state-owned energy companies follows the Energoatom scandal, in which the board failed to prevent unauthorized interference in the company’s management and the creation of kickback schemes in procurement.
  • At the same time, it was the government itself that left one seat on Energoatom’s supervisory board vacant, effectively preventing the board from functioning in full.