State strengthens its role in decision-making at Ukrenergo NPC

In the process of preparing a new version of the Charter of the Ukrenergo NPC, the Ministry of Energy was guided by the fact that state representatives should strengthen their role in the work of the transmission system operator.

This is stated in the message of the Ministry of Energy, the Ukrainian News agency reports.

"The Ministry of Energy is grateful to international partners for supporting the Ministry's position on legally strengthening the role of the state in making important strategic decisions," the message says.

It is noted that in particular this concerns the mandatory participation of a state representative in approving plans for the development of the transmission system for the next 10 years, approving investment programs of the licensee for the transmission of electricity, and appointing the chairman of the company's board.

The updated Charter also stipulates the obligation of the Supervisory Board to conduct a competitive selection of the chairman of the board within 90 days from the date of dismissal of the previous chairman.

Thus, a limitation on the term of stay of the temporarily acting chairman in this position has been established.

This will allow the Supervisory Board to ensure the selection of a full-fledged head of the Ukrenergo NPC and to restructure debt obligations.

As the Ukrainian News agency earlier reported, the European Bank for Reconstruction and Development called on the Ministry of Energy of Ukraine to completely remove the amendments made to weaken the independence of supervisory boards from the charters of both the Ukrenergo NPC and other state-owned companies (the GTS Operator of Ukraine and Ukrhydroenergo).