Ukrenergo to conduct stocktaking of assets before March 2018

National energy company Ukrenergo is to conduct a stocktaking of its assets before February 26, 2018 and submit a report to the Energy and Coal Industry Ministry of Ukraine.

The date and the structure of the commission are outlined in ministry's decree No. 761 issued on December 21, 2017, a copy of which has been sent to Interfax-Ukraine.

As reported, the Cabinet of Ministers of Ukraine on November 22, 2017 approved the reorganization of state enterprise Ukrenergo into a private joint-stock company (PrJSC). All the property being on the balance sheet of the state enterprise, which ensures the integrity of the united energy system of Ukraine, dispatching management, trunk and interstate power grids, is assigned to the PrJSC and cannot be sold or transferred.

Head of Ukrenergo Vsevolod Kovalchuk said that as part of the reorganization the company is to conduct a stocktaking of its assets, appraise its property, issue shares and transfer them to ownership of the state. He said that the reorganization of the company into the PrJSC means that it is impossible to sell and purchase shares of the company on a stock exchange.

Ukrenergo operates trunk and interstate power grids, as well as performs the centralized dispatching of the united energy system in the country. The company is a state-owned enterprise, it is subordinate to the Ministry of Energy and Coal Industry.