Energy ministry signs new regulations of Ukrenergo with creation of independent supervisory board
Ukrainian Energy and Coal Industry Minister Ihor Nasalyk has signed the new regulations of national energy company Ukrenergo, which envisage the creation of an independent supervisory board.
"The new regulations of national energy company Ukrenergo have been signed by Energy Minister Ihor Nasalyk. The independent supervisory board will be created," Ukrenergo head Vsevolod Kovalchuk wrote on his Facebook page.
As reported, at the end of March 2017 the ministry instructed largest state-owned enterprises in the energy sphere to draw up new regulations with a possibility of creating independent supervisory boards. Ukrenergo earlier attracted Baker & McKenzie to design the new regulations of the enterprise.
It is planned that the independent supervisory board will draw up and approve the company's development strategy, appoint managers, appraise the company's operations and select an independent auditor.
Ukrenergo operates the trunk and interstate power grids, as well as the centralized dispatching of the country's united energy system. The company is state-owned and managed by the Energy and Coal Industry Ministry.