SPFU starts formation of supervisory board of Energy Company of Ukraine

The State Property Fund of Ukraine (SPFU), which is the governing body of the state energy trader Energy Company of Ukraine (JSC ECU), has announced a competitive selection for the positions of three independent members of the company's supervisory board.

This is stated in the company's message, the Ukrainian News agency reports.

According to the ECU statute, the supervisory board consists of five members: three independent and two state representatives.

It is expected that the process of formation of the ECU supervisory board will be completed by the end of July.

As the Ukrainian News agency earlier reported, in 2023 ECU received a net profit of UAH 148.9 million.

In August 2022, ECU started commercial activities.

On June 28, 2022, the Cabinet of Ministers transferred from the sphere of management of the Ministry of Energy to the sphere of management of the Ministry of Economy the authority to manage corporate rights belonging to the state in the authorized capital of the joint-stock company Energy Company of Ukraine.

ECU JSC is a multi-disciplinary energy supply enterprise that carries out operations of purchase, sale, supply and market optimization of energy consumption for commercial customers.

The company operates on the domestic and foreign markets of energy resources.

100% of the company's shares belong to the state.